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Extended-stay: How are brands adapting to market changes?

The very intense investment focus in the extended-stay market has narrowed into upper-economy/lower-midscale positioning, said Mark Skinner, partner at the Highland Group. “That’s where most of the growth is centered where previously it was more broad-based,” he said. “The fastest growing brands are all in squarely in the mid-price select. … If you look at 2016 to 2019, the highest growth in supply was in the mid-price select but now it has shifted more towards lower-midscale and upper-economy. And the reason for that is the performance of those segments during 2020 and 2021.”

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