Extend Stay: the quickest ascending business model in hospitality
Dec. 4, 2023
In the ever-evolving world of hospitality, 2023 has brought forth a significant transformation—the surge in popularity of extended stay accommodations. This trend reflects a fundamental shift in traveler preferences, with an increasing demand for prolonged comfort, flexibility, and a home-away-from-home experience. In this blog post, we’ll explore the factors driving the rise of extended stay hotels and how they are reshaping the hospitality landscape.
Adapting to Evolving Travel Dynamics
The travel landscape is undergoing a notable change, marked by a growing preference for longer stays. Factors such as remote work, extended vacations, and temporary relocations are driving travelers to seek accommodations that go beyond the traditional short-term model. Extended stay hotels are responding by providing fully-equipped suites, kitchen facilities, and a range of amenities tailored to the unique needs of long-term guests.
Catering to Remote Work and Digital Nomadism
The surge in remote work and the increasing number of digital nomads have become pivotal factors in the rising popularity of extended stay hotels. Professionals embracing flexible work arrangements are seeking accommodations that seamlessly blend comfort and functionality. Extended stay hotels are now offering spacious suites with dedicated workspaces, high-speed internet, and amenities tailored to the specific needs of remote workers.
Prioritizing Home-Like Comfort and Convenience
Designed to replicate the comforts of home, extended stay hotels offer fully equipped kitchens, separate living and sleeping areas, and a sense of spaciousness beyond the typical hotel room. This design philosophy resonates with travelers who prioritize the convenience and flexibility of a home-like environment, especially during extended stays.
Offering Cost-Effective Solutions
In an era where budget-conscious travel is paramount, extended stay hotels present cost-effective solutions for long-term accommodation. Many properties now provide weekly or monthly rates that encompass utilities and other amenities, enabling guests to enjoy extended stays without straining their budgets. This affordability factor appeals to both leisure and business travelers seeking extended periods of accommodation.
Emphasizing Health and Safety Considerations
The global pandemic has underscored the importance of health and safety in the travel industry. Extended stay hotels, with a focus on spacious accommodations and self-contained facilities, align with the preferences of travelers prioritizing a controlled and secure environment. Private kitchens and reduced reliance on shared spaces contribute to the appeal of extended stay hotels in a post-pandemic world.
The ascendancy of extended stay hotels in 2023 signifies a fundamental shift in the approach to travel and accommodation. Whether accommodating the rise of remote work, adapting to changing travel dynamics, or meeting the desire for home-like comforts, extended stay hotels are at the forefront of reshaping the hospitality landscape. As the industry progresses, it’s evident that the extended stay model is a compelling alternative for modern travelers seeking more than a transient experience on the road.