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LivSmart Studios by Hilton is aimed at the lower mid-tier , competing with brands like Marriott ’ s StudioRes . |
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their extended-stay offerings . ESA ’ s Premier Suites , for example , is a bump above its baseline ESA brand , new or fully renovated and offering an elevated experience with amenities like upgraded bedding and a free breakfast . Laport calls them a “ unique business model that allows us to reach business and corporate extended-stay travelers looking for a higher level of amenities .”
Hilton is not allergic to mixing it up in the extendedstay segment , long committed to it with brands including Homewood Suites and Home2 Suites by Hilton . The former upscale , the latter midscale , Hilton decided to climb farther down the extended-stay chain
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scale with LivSmart Studios by Hilton , aimed at the lower midtier , competing with brands like Marriott ’ s StudioRes .
Hilton calls its latest addition to the Hilton portfolio “ a lower midscale , long-stay hotel brand offering simplicity , consistency and convenience to guests who may be traveling for weeks or months at a time .”
LivSmart , which for an extended time worked under the working title Project H3 , includes a retail market , guest laundry room , fitness center , outdoor communal space and rooms with full kitchens , including dishwashers and twoburner cooktops .
Concord likes the model , an almost facsimile of other new
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entrants into the space , though with some distinction . It is working with Hilton with plans to develop 20 to 30 LivSmart properties .
In the case of LivSmart , Laport said the brand was poised to charge an even higher ADR than Marriott ’ s StudioRes , but there is some concern that it could get so high as to potentially cannibalize a brand like Home2 . “ It ’ s getting up there [ in price ],” said Laport .
Other entrants into the space include Wyndham Hotels & Resorts ’ ECHO Suites Extended Stay by Wyndham , launched in 2022 , with a pipeline of more than 120 . “ Simple , minimal , modern ” is how Wyndham describes it .
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Hyatt Hotels Corp . launched Hyatt Studios last year in the upper-midscale space . Concord ’ s track record goes far back with Hyatt , with Hyatt House and Hyatt Centric , to name two brands it has developed . Concord doesn ’ t have imminent plans to develop Hyatt Studios , but for a fair reason : “ We just don ’ t have the bandwidth ,” Laport said . You can ’ t do everything .
You can love everything that these new extended-stay entrants promise . Namely , an ideal operating model that is lean on labor and high on margin . In sum , Concord is doing around $ 1.8 billion in development with its extendedstay brand partners .
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46 hotelsmag . com Mar / Apr 2024 |