The Highland Group and Kalibri Labs Release New Report on Extended-Stay Hotels

Extended-stay room revenues in traditional hotels are 21% higher than in extended-stay hotels, indicating considerable potential for additional extended-stay hotel development.

September 29, 2023 -- For the 12-month period ending June 2023, Guest Paid room revenue from guests staying 7 consecutive nights or longer was $8.97 billion at traditional hotels compared to $7.39 billion at extended-stay hotels. Corresponding room nights accommodated were 74.3 million and 72.2 million. Nationally, the share of extended-stay demand (ESOC) in extended-stay hotels is 53%. In traditional hotels ESOC is 13% but there are 10 times as many rooms compared to extended-stay hotels. 

“Traditional hotels are still accommodating more extended-stay demand than extended-stay hotels despite the latter’s substantial gains in market share over the last 25 years” says Mark Skinner, Partner at The Highland Group.

“Despite the growth in extended stay during the pandemic, in the current lodging environment we expect continued expansion of this segment for the foreseeable future,” said Mark Kren, Director of Real Estate & Investment Reporting at Kalibri Labs. The 50 Largest Markets: ALOS, ESOC and More Report 2019-2023 is the most comprehensive information available on extended-stay demand, revenues, length of stay, booking lead time and reservation costs. 

The report is available for sale at: https://highland-group.net/reports. Complimentary copies of the report are available to the press at catkinson@highland-group.net.

About The Highland Group, Hotel Investment Advisors, Inc.

The Highland Group provides consulting services to developers, franchisors, investors, lenders, and others with interests in the lodging industry. For more information see www.highland-group.net.

Contact
The Highland Group, Hotel Investment Advisors, Inc.
Conni Atkinson
404.872.4631 catkinson@highland-group.net

About Kalibri Labs LLC

Kalibri Labs is a next-generation hotel data analytics company providing the most granular metrics available, giving owners and operators visibility into underlying dynamics of the digital market for more accurate underwriting. For more information visit www.kalibrilabs.com.
 
Contact
Mark Kren, CHIA, Director of Sales - Hotel Real Estate & Investment Reporting
Kalibri Labs LLC
301-346-1461