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Wyndham Launches ECHO Suites Extended Stay
Source: Wyndham
Wyndham has unveiled the name of its 24th brand – ECHO Suites Extended Stay by Wyndham – officially the fastest-growing brand in the company’s development pipeline.
ECHO Suites Extended Stay by Wyndham already has 120 new-build properties in development in the US, well ahead of the company’s previously shared end-of-year goal.
The 124-room ECHO Suites prototype requires just under two acres of land to build. Coming in at approximately 50,000 square feet—nearly 74 percent of which is rentable—individual rooms average 300 square feet. The rooms consist of single- and two-queen studio suites with kitchens and efficiently-designed public spaces—a lobby, fitness center, and 24/7 guest laundry—that help limit labor needs.
ECHO Suites aims to give guests that special “home away from home” feel, which is crucial for longer-term stays.
“In six short months, ECHO Suites Extended Stay by Wyndham has secured its place as the fastest growing brand in our development pipeline, highlighting continued, robust demand from both travelers and developers for budget-friendly, extended stay offerings,” said Geoff Ballotti, president and CEO Wyndham Hotels & Resorts, in a press release. “Imagined and designed from day one with the constant input, review and oversight of many of our nation’s most experienced extended-stay developers, Echo Suites was engineered with one specific goal in mind: creating an ROI-driven prototype that is as cost-efficient to build as it is to operate.”
According to a press release from Wyndham, extended-stay hotels have been an industry leader for growth and recovery with no signs of slowing down. Q3 2022 industry data from STR shows guests checking into economy and midscale extended stay hotels at a higher rate (76%) than that of traditional economy and midscale hotels (62%).
“More than ever, travelers today are looking for value, especially long-term guests booking extended stays. At the same time, they want a space that looks and feels like them,” Ballotti added. “We believe if you can give them that, they will come back, night after night, stay after stay. That’s what ECHO Suites is all about: giving guests a great extended stay experience, at a great price, so that, like an echo, they repeat it, over and over again.”
Wyndham expects to open its first ECHO Suites hotel in 2023.
