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market , Hyatt Hotels Corp . saw an opportunity to do more than just provide guests an affordable hotel experience . The new format afforded an opportunity to reach new locations and segments of the population that previously had felt inaccessible . When it opens in 2024 , Hyatt Studios will offer a casual , costeffective option in a multitude of new areas .
“ Through research , we learned that when our World of Hyatt members chose to stay with another brand , it was often because they couldn ’ t find a Hyatt hotel nearby , or were looking for a different price point ,” said Dan Hansen , global head of Hyatt Studios and former CEO of real estate investment trust Summit Hotel Properties . “ For our developers ,
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they wanted a brand that was easily scalable , flexible , and adaptable across markets , and could accommodate both extended and shorter stays . By entering the upper-midscale segment , and extending into markets where we currently
A Hyatt Studios guestroom .
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Hyatt Hotels Corp .’ s new Hyatt Studios brand will start making its first appearances in 2024 .
don ’ t have a presence , we are filling a need for both developers and guests .”
Hyatt is not alone in recognizing the potential to activate a new market . In creating Project H3 , Hilton envisioned a chance to plug
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in properties near military bases , hospitals , and even natural disaster-stricken regions . In instances where renting an apartment would be impractical , an affordable extended-stay hotel would satisfy a crucial need for temporary housing . Project H3 will allow guests to stay for weeks , or even months at a time , if necessary .
“ There are quite a few instances where you do extend your stay for even longer because circumstances have changed ,” said Matt Schuyler , chief brand officer for Hilton . “ That ' s why [ Project H3 is ] priced daily , but paid for based on your length of stay every week . The longer you stay , the lower your rate .”
Hilton already has extended stay brands Home2 Suites and Homewood Suites , but envisions Project H3 tapping into locations where those brands don ’ t make sense , said Schuyler . With a focus on the service industry or economy market segments , Hilton
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September 2023 hotelsmag . com 61 |