Extended-stay Hotels Facing Recession Relatively Well
Despite Large Drop in RevPar
MAY 13, 2009 - Extended-stay hotel RevPar declined 14.4% in the first quarter of 2009 compared to the same period in 2008. However, performance measures indicate that the segment is experiencing smaller declines than the overall US hotel industry.
Despite a 6.6% increase in supply compared to a year ago, extended-stay hotels did not discount rates as heavily as during the last hotel downturn, but the decline in occupancy was greater. At 61.3% average occupancy was the lowest ever reported in the first quarter.
The US Extended-Stay Lodging Report: First Quarter 2009 is the most current report available on the extended-stay lodging industry. The retail price of the report is $195. Complimentary copies are available to the press. The Highland Group is a hospitality consulting and research firm best known for its extensive research and publications on extended-stay lodging. For more information, please call Mark Skinner at (404) 872 4631.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
