Wyndham Hotels & Resorts is set to grow its U.S. footprint with the introduction of a new economy extended stay brand. Operating under the working moniker of Project ECHO—an acronym for Economy Hotel Opportunity—the brand will roll out 50 new construction projects based on a purpose-built prototype that accommodates 124 guestrooms across less than two acres of land.
Project ECHO was created in response to the increased popularity in the economy extended-stay segment, which saw U.S. revenue per available room (RevPAR) grow eight percent during the pandemic compared to a 17-percent decrease in 2019. The average U.S. occupancy for economy extended-stay hotels was also more than 20 points higher than all of U.S. segments combined at more than 78 percent.
“Over the last two years, economy extended-stay hotels outperformed all other segments, and in 2021, set new records for occupancy, ADR, and RevPAR,” says Wyndham president and CEO Geoff Ballotti. “Demand for these accommodations only continues to climb—both from guests and developers alike—making now the right time for Wyndham, the definitive leader in the economy segment, to bring our experience and expertise to this high-potential space.”
Totaling nearly 50,000 square feet—74 percent of which will be rentable—each Project ECHO property will feature accommodations that average 300 square feet and span single and two-queen studio suites equipped with in-room kitchenettes. Public spaces, from the lobby to the fitness center to the guest laundry room, will also be crafted to maximize efficiency and limit the need for labor.
The brand expects to open its first hotels in 2023.
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