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09 May 2024

The Growing Appeal of Extended Stay Hotels

Six years at Choice Hotels, Extended Hotel Stay enthusiast - Matt McElhare explains the growing buzz behind extended stay hotels - what it is, what's to come, and why it's increasingly popular.

"Why we're why we're having a conference to focus on it in a couple of weeks is it's its own asset class. in a lot of ways. It's a hybrid between a multi-family and a hotel and from an investor perspective. It provides a high floor on performance and the resiliency that you get with a multifamily investment. But you also have the ability to take advantage of a higher ceiling by marking to market your rates on a daily weekly basis, to take advantage of things like seasonality and compression. Opportunities like when Taylor swifts in town, and you, if you have a hotel nearby and things like that, that you can't with a multifamily investment. And so the combination really, presents a unique risk return profile."