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Asian Hospitality December 1, 2024 – Report: Extended-stay hotels post record gains in October. “October was a very good month for extended-stay hotels with four record-high performance metrics compared to the last 30 months,” said Mark Skinner, partner at The Highland Group
Hotel Investment News November 19, 2024 – Success drivers to help with extended-stay profitability. Investors more interested in the real-time picture can refer to a Q3 2024 study by The Highland Group that revealed record-setting demand, ADR and RevPAR for extended-stay hotels while the overall industry was shouldering its third consecutive quarter of shrinking occupancy.
Hotel News Now September 30, 2024 – 5 Things To Know for September 30: Extended-stay hotel supply grows more than 3%. [Mark Skinner said], “The average increase in demand for extended-stay hotels in the last four months is 4.9%, nearly equal with the long-term average over 23 years.”
Asian Hospitality September 28, 2024 – Report: U.S. extended-stay supply grew 3.3 percent in August. “Extended-stay hotels saw a 5.7 percent revenue increase in August, marking the fifth consecutive monthly gain of 4 percent or more and the largest growth in 15 months,” The Highland Group reported.
Hotel Investment Today September 27, 2024 – Latest news: extended-stay strength. [Mark Skinner said], “In August extended-stay hotels reported a fifth consecutive month in which occupancy, average rate and RevPAR were all higher than the corresponding months in 2023.”
Asian Hospitality September 7, 2024 – Report: Extended-Stay Supply Grows 3.1 Percent In July, Tops Two-Year Average.
Hotel News Now September 6, 2024 – 5 Things To Know for September 6:Extended-stay hotels in US carry performance in July. Mark Skinner,added, “July was an exceptionally good month for extended-stay hotels which outperformed the overall industry and the economy segment reported a monthly RevPAR gain for the first time in more than one year.”
Hotel Management August 30, 2024 – Highland Group: Boutiques report increased performance. “Despite headline-grabbing large increases in extended-stay rooms under construction, the annualized increase in room nights available over the next year should be well below the long-term average, and the near-term risk of oversupply nationally is very low,” said Mark Skinner, partner at The Highland Group.
Hotel Investment Today August 5, 2024 – Extended-stay rooms under construction way up. “Boutique hotels are doing very well,” Kim Bardoul, partner at The Highland Group, said in a statement. “Continued awareness of this product type as an option is shown through strong increases in performance.
Hotel Management July 31, 2024 – Extended-Stay Supply Growth Can’t Keep Up With Demand. “June was another good month for extended-stay hotels with demand growth exceeding the change in supply for the third consecutive month,” Mark Skinner, partner at The Highland Group, said in a statement.
Skift July 5, 2024 – Extended-Stay Hotel Boom Gets a Reality Check. “When you have lots of changes of ownership, you have changes in reservation systems and marketing,” [Mark] Skinner said. “That causes temporary drops in occupancy.”
Hotel News Now July 1, 2024 – 5 Things To Know for July 1: Performance Picks Up for Extended-Stay Hotels. “May was another good month for extended-stay hotels with demand growth achieving one of its largest increases in more than two years,” said Mark Skinner, partner at The Highland Group.
Asian Hospitality June 1, 2024 – Report: Extended-Stay Hotels Strong in April After Challenging Q1. “The performance of extended-stay hotels in April re-established the segment’s long-term trend of increasing its market share of total hotel supply, demand and room revenues,” said Mark Skinner, partner at The Highland Group.
Serviced Apartment News May 7, 2024 – US extended stay RevPAR declines for first time in three years. “If most forecasts for overall hotel industry performance are realised, extended-stay hotels are likely to reverse the trend of declining occupancy in the near future because demand has increased for 13 consecutive quarters and supply growth is very low,” said Mark Skinner, partner at The Highland Group.
Hotel Investment Today May 6, 2024 – Latest news: Extended-stay takes hit. “A 1.6% year-over-year decline in extended-stay hotel RevPAR in 1Q24 was the first contraction since RevPAR started rising in April 2021”, according to the Highland Group.
Hotel Management April 8, 2024 – Extended-stay: How are brands adapting to market changes?“The very intense investment focus in the extended-stay market has narrowed into upper-economy/lower-midscale positioning”, said Mark Skinner, partner at the Highland Group.
Hotel Management April 8, 2024 – Extended-stay market: Will supply exceed demand? “The average annual increase in supply since the late 1990s has been 6 percent,” said Mark Skinner, partner at the Highland Group. “For the last two years, it’s been less than 2 percent.”
Hotel Management April 2, 2024 – Mixed results for extended-stay hotels in February. “Strong demand growth and an increase in occupancy are good signs in this year’s difficult start for extended-stay hotels,” Mark Skinner, partner at The Highland Group, said in a statement.
Hotel Investment Today April 1, 2024 – US boutique hotels hit higher RevPAR than counterparts. “A well-done boutique hotel, while serving a town with unique accommodation, offers a sense of place if [skillfully] immersed into the vibe and history of the local community, and provides an appealing location for guests and locals to gather,” said Kim Bardoul, partner at The Highland Group and author of the report.
Hotel Management March 27, 2024 – Boutique hotels achieve higher RevPAR than most comparable U.S. hotels in 2023. “The significance of the boutique hotel is recently seen through the number of small, suburban town centers exploring adding this product type to entice vibrancy and curiosity for their immediate area,” Kim Bardoul, partner at The Highland Group, said in a statement. “A well-done boutique hotel, while serving a town with unique accommodation, offers a sense of place if adeptly immersed into the vibe and history of the local community, and provides an appealing location for guests and locals to gather.”
Asian Hospitality March 4, 2024 – Report: U.S. Extended-Stay Hotel Occupancy Dips, While ADR and RevPar Surge in 2033. “Extended-stay room supply is projected to [gain] 10 percent or more in 19 MSAs in 2024, with the most significant increases observed in smaller markets, according to The Highland Group.
Business Travel News February 9, 2024 – Report: U.S. Ext.-Stay 2023 Rates Rise Amid Record-Low Supply Growth. “the near-term risk of extended-stay hotel over supply is very low nationally … and plenty of excess extended-stay demand remains,” Skinner said in a statement.
Hotel Investment Today February 9, 2024 – Latest news: Kimpton grows in Texas; extended-stay growth slows; Seibu Prince NYC debuts. Mark Skinner, partner at The Highland Group, said extended-stay demand has increased yearly for 25 years (except in 2020), and there is still plenty of extended-stay demand [in non extended-stay hotels].
Hotel News Now December 1, 2023 – 5 Things To Know for Dec. 1: Extended-Stay Hotels Outperform Rest of Industry. “The long-term correlation coefficient between the annual change in RevPAR for extended-stay hotels and the overall hotel industry is very high, and we expect that to continue during the near term,” said Mark Skinner, partner at The Highland Group.
CoStar November 10, 2023 – Extended-Stay Hotel Success Depends on Location, Travel Segment and Discipline. “The last time supply growth was this low was following the 2008-09 recession, and supply increases stayed well below the long-term trend for four years,” [Mark Skinner] said. “We are two years into the current era of low supply growth, and the federal funds rate is 10 times higher than it was the last time this occurred. Excluding the late 1990s, the highest annual gain in extended-stay supply was in 2009 when rooms increased 9%. If that level of supply increase was to occur now, rooms under construction would have to double from the current level and all would need to open within one year. Accordingly, the near-term risk of extended-stay hotel oversupply nationally is very low.”
Lodging Magazine October 19, 2023 – Four New Sonesta Simply Suites Locations Open. The Highland Group, [Mark Skinner said], “Extended-stay hotels saw a 3.2 percent increase in RevPAR in Q2 year over year compared to a 2.7 percent increase in RevPAR for the overall industry.”
Bisnow October 9, 2023 – In Battle With Airbnb And Vrbo, Hotel Giants Deploy New Tactic: ‘Full Attack’. “So there is plenty more extended-stay business housed in nonextended-stay hotels,” [Mark] Skinner said. “That is potentially available for extended-stay hotels to capture.”
Hotel News Now October 5, 2023 – 5 Things To Know for Oct. 5: Extended-Stay Hotel Performance Sustains Growth. “Extended-stay hotel’s 12.7 percentage point occupancy premium above the overall hotel industry in August is within the long-term annual average range over the last 25 years,” Mark Skinner, Partner at The Highland Group.
Service Apartment News October 3, 2023 – Traditional hotels drive more extended stay revenues, report shows.
Business Travel Executive October 2, 2023 – Extended Stay Revenues in “Traditional Hotels Are 21% Higher Than in Extended Stay Hotels, Says Report. Mark Skinner, partner at the Highland Group, said “traditional hotels are still accommodating more extended stay demand than extended stay hotels, despite the latter’s substantial gains in market share over the last 25 years.”
Hotel Investment Today September 1, 2023 – Boutique outpacing other hotels, with lifestyle leading the way. “Through the first six months of 2023, demand remains strong for all boutique hotels with the lifestyle categories pulling ahead of its soft brand and independent boutique competitors in terms of performance.” Kim Bardoul, partner at The Highland Group.
Hotel News Now August 23, 2023 – 5 Things To Know for Aug. 23: Boutique Hotel Performance Increases. “The lifestyle segment averaged the largest increases in performance, while soft brands reported a 5-percentage point premium in RevPar recovery compared to the same class of U.S. hotels,” Kim Bardoul, partner at The Highland Group.
Skift August 22, 2023 – Boutique Hotel Pipeline Is Growing Fast but Forecasts May Be Too High. “A segment of consumers wants more than a bed for the night,” [Kim] Bardoul said. “Some guests want to feel immersed in a community or a storyline. A piece of local artwork, for example, or staff uniforms or even a menu item, could help create a sense of place.”
Serviced Apartment News August 4, 2023 – US extended stay continues to outperform hotel industry. “The 3.2 per cent RevPar gain in Q2 was the smallest quarterly increase in more than three years but it was better than the 2.7 per cent increase STR reported for the overall hotel industry.”
WMRE Midyear Outlook August, 2023 – Investors See Opportunity as Strong Fundamentals Continue for Extended Stay. “Further, according to the Highland Group’s 2023 report, extended stay hotel room revenues increased $3.2 billion last year, the second highest annual increase in 25 years.”
Hotel Investment Today July 21, 2023 – Performance, value and profits: The fundamentals driving extended-stay’s dominance. In summary, [Mark] Skinner said, “One year from now looking back to today, I think the one statement will be extended stay hotels once again, increase their market share.”
Axios May 30, 2023 – Extended-stay hotels enjoy boom as travelers look for bargains. “Extended-stay hotels were particularly resilient during the pandemic because they did not rely as much on transient travelers as traditional hotels”, The Highland Group partner Mark Skinner tells Axios.
Hotel News Now May 16, 2023 – 5 Things To Know for May 16: Extended-Stay Segment Reaches New Records. “Rising interest rates and construction costs, as well as tightening loan underwriting, means extended-stay supply growth should be relatively low nationally for two to three years. Assuming the overall hotel industry does not endure a correction, extended-stay hotels should set more new performance records during the near term at least,” Mark Skinner, partner at The Highland Group.
Skift May 15, 2023 – Extended Stay Brand: Why Every Hotel Company Wants One. “The new [extended-stay hotel] brands are not likely to have any material impact on national ES supply until 2025 at the earliest,” said Mark Skinner, a partner at the Highland Group.
Skift April 20, 2023 – Extended Stay America Bets Comeback on Adding Franchise Brands. “The risk of oversupply in extended stay [nationally] is very low in the next couple of years,” [Mark] Skinner said.
Hotel News Now March 31, 2023 – 5 Things To Know for March 31: Extended-Stay Hotels Could Benefit From Trade-Down Effect. “Fundamentally, extended-stay hotels are a price buy compared to the overall hotel industry, which history demonstrates is not immune to the trade-down effect currently underway in the broader economy. February’s performance metrics indicate this could benefit extended-stay hotels especially at lower price points,” Mark Skinner, partner at The Highland Group, said in the report.
Boutique Hotel News March 24, 2023 – Boutique Hotel Report shows strong US RevPAR recovery. Kim Bardoul, partner at The Highland Group, said: “The boutique hotel that combines overnight accommodation with the intrigue of design, story, local relevancy, and interesting amenities tends to attract loyalty and a good rate premium. Continued popularity and strong rate increases position this product very well for future growth.”
Hotel News Now March 14, 2023 – 5 Things To Know for March 14:Extended-Stay Secures Occupancy 19% Higher Than Overall Hotel Industry. “Consistent with the overall hotel industry, lower-priced extended-stay hotels continued to report markedly lower revenue per available room gains than higher-rated properties in January 2023,” said Mark Skinner, a partner at [The] Highland Group.
Asian Hospitality November 15, 2022 – Report: New Records Set for Extended-Stay Hotels in the Third Quarter; Rate Resistance Grows. “The slowdown in ADR growth is greatest at higher price points although mid-price and upscale extended-stay ADR is still increasing faster than the economy segment.” [said Mark Skinner, partner at The Highland Group].
Hotel News Now October 12, 2022 – Boutique Hotels Leading US Hotel Industry in Many Metrics. “Soft Brand Collection and Independent Luxury Class boutique hotels reported the strongest RevPAR increases through June 2022, compared to the same time period in 2019, largely due to notable spikes in average rate,” said Kim Bardoul, partner at The Highland Group.
Hotel News Now September 14, 2022 – 5 Things To Know for Sept. 14:Demand Falls for US Extended-Stay Hotels. “The long-term trend of generally similar monthly changes in RevPAR between extended-stay hotels and the overall hotel industry has resumed for the first time since the pandemic began,” said Mark Skinner, partner at The Highland Group.
Business Travel News August 12, 2022 – Report: Extended-Stay Q2 Recovery Continues, Supply Growth Stalls. “the overall hotel industry recovery caught up with extended-stay hotels in Q2 after lagging for 18 months,” according to Highland, [partner Mark Skinner].
Skift July 25, 2022 – Why Extended Stay Hotels Aren’t in Just a Hype Cycle. [Mark] Skinner said “the phenomenon isn’t confined to the budget segment. It’s creeping up the rate scale,” Skinner said. “It’s been a long time since I’ve seen so many 30-plus-consecutive-night stays in upscale extended-stay hotel brands.”
Boutique Hotel News July 15, 2022 – Strong recovery for boutique hotels, report shows. Kim Bardoul, partner at The Highland Group, said: “Although complete recovery has been hindered for some by location and supply growth, overall segment performance is expected to reach pre-pandemic levels soon; once again positioning the boutique hotel product as one of the most popular lodging types.”
Smart Meetings July 14, 2022 – The Continued Rise of the Extended Stay Hotel. “The investment returns [of extended stays] tend to be higher than traditional hotels of comparable price,” said Mark Skinner, partner at The Highland Group.
Hotel Management July 14, 2022 – Behind the success of extended-stay hotels. “According to [The Highland Group’s] research, economy extended-stay hotels lost a tenth of the revenue that economy hotels in general did during 2020.”
Hotel Business July 8, 2022 – Extended-stay hotels staying the course. “The 1.9% increase in extended-stay room supply in May is the second successive month supply growth was below 2% since 2013 (excluding some of 2020 which was impacted by temporary closings of some hotels) and the eighth consecutive month of 4% or lower supply growth.” Mark Skinner, partner at The Highland Group, said.
Bloomberg June 23, 2022 – Atlanta’s Real Estate Boom Forces Locals to Live in Extended-Stay Hotels. At these budget [extended-stay] hotels, “you’ve just got to have enough money for your first week’s rent,” Highland Group partner Mark Skinner said. “And you don’t have to sign a lease.”
Hospitalitynet May 24, 2022 – Kim Bardoul has been appointed President at Atlanta Hospitality Alliance (AHA) in Atlanta.
Hotel News Now April 29, 2022 – 5 things to know for April 29: Extended-Stay Rates Grow as Supply Growth Drops. “Extended-stay hotel growth in demand and ADR are expected to moderate over the near term but with supply increases at an eight-year low, the outlook for strong gains in RevPAR remains very good” Mark Skinner, partner at The Highland Group, said.
Serviced Apartment News November 15, 2021 – Record breaking Q3 for US extended stay market. “It is highly likely that extended stay hotels will continue to set new performance records during the near term,” said Mark Skinner, partner at The Highland Group.
Lodging Magazine September 21, 2021 – Extended Stay Remains Resilient Amid Continued Uncertainty. “According to a new report from the Highland Group, the [extended-stay] segment recorded 10.5 percent more revenue in July of 2021 than the same period in 2019.”
Hotel Management September 20, 2021 – Extended-stay leverages strengths for continued staying power. “According to a report from the Highland Group, overall extended-stay hotel demand rose 8.6 percent in Q1 of 2021, while overall U.S. hotel demand decreased 11.9 percent,” [said Mark Skinner]
Hotel News Now September 2, 2021 – 5 things to know for September 2: Extended-Stay Segment Outperformance Continues. “Economy, mid-price and upscale extended-stay hotels all posted higher revenues in July 2021 compared to two years ago,” [said Mark Skinner]
Hotel News Now August 17, 2021 – 5 things to know for August 17: Demand for Extended-Stay Hotels Hit Record High. “Record high demand, rapidly increasing [average daily rate] and a large decline in the supply pipeline indicate continued acceleration of the extended-stay hotel recovery in the near term,” said Mark Skinner, partner at the Highland Group.
Business Travel News August 16, 2021 – Report: Q2 U.S. Extended-Stay Demand at Record High. “The economy [extended-stay] segment posted record-high quarterly levels for each of the three key performance indicators.”[said Mark Skinner]
Serviced Apartment News August 11, 2021 – US extended stay sector continues strong recovery. “For all extended stay [hotels], the recovery index for occupancy is 99.3 per cent, for ADR is 91.1 per cent, for RevPar is 90.5 per cent, and for revenue is 101.8 per cent.” [said Mark Skinner]
Biznow News Now July 22, 2021 – Boutique Properties Stand To Bounce Back Best Of All In Hotel Sector. “Many boutiques also showed [revenue per available room] improvements in the latter part of the year as they began pulling back on rate discounts, placing them in a better position to recapture rate in the recovery years.”[said Kim Bardoul].
Hotel News Now July 12, 2021 – Independent-Focused Hotel Managers Add More Soft Brands as Segment Grows. “Whenever these types of properties get together under a management umbrella, it provides them with a larger platform for customized marketing, reservation tools and that identity that makes you different and unique from the traditional product,” [Kim Bardoul] said.
Hotel News Now July 9, 2021 – Economy Extended-Stay Hotels Recover Faster Than Higher Tiers Within Segment. “This time around, extended-stay hotels did not discount rate as deeply as the rest of the hotel industry, making it easier to build back rate, Skinner said. Economy extended-stay hotels have been seeing monthly rate increases since December 2020.”
Hotel News Now June 29, 2021 – 5 things to know for June 29: Extended-Stay Hotels’ Recovering Faster Than Past Downturns. “A new report from The Highland Group shows that in April 2021, extended-stay hotels’ revenue per available room reached 90% of its nominal value in April 2019.” [said Mark Skinner]
Business Travel News June 28, 2021 – Report: U.S. Extended-Stay Occupancy Nearly Reaches ’19 Level. “Occupancy at U.S. extended-stay hotels in April returned almost entirely to April 2019 levels, recovering from the effects of the Covid-19 pandemic, according to a new report from The Highland Group.”
Hotel News Now June 3, 2021 – Extended-Stay Hoteliers Pay to Strengths, Step Up Growth. “U.S. extended-stay hotel room supply grew 3.9% in 2020, even as overall hotel supply decreased about 3.6%,” said moderator Mark Skinner, partner at The Highland Group.
Hotel News Now June 3, 2021 – 5 things to know for June 3: Mid-Price, Upscale Hotels ‘Powered’ Extended-Stay Segment. “According to The Highland Group’s latest data, mid-price and upscale extended-stay hotels “powered extended-stay hotel occupancy to 75.5% in April 2021,” [said Mark Skinner.]
Hotel News Now May 28, 2021 – A Look at Boutique, Soft-Brand Hotel Supply and Performance. “Compared to branded hotels in the industry, independent boutique hotels and soft brands fared somewhat better throughout the COVID-19 pandemic,” according to The Highland Group’s Boutique Hotel Report 2021.
Asian Hospitality May 9, 2021 – Report: Boutique Hotels Recovering Quickly From Pandemic. “Many boutiques also showed RevPar improvements in the latter part of the year, as they began pulling back on rate discounts placing them in a better position to recapture rate in the recovery years. This yield management strategy, most widely seen in the upper upscale/luxury class of independent boutique and soft brand collections, positions these boutique hotels in a stronger position to recapture rate in the recovery years,” said Kim Bardoul, partner at The Highland Group.
Hotel News Now March 16, 2021 – Extended Stay America Acquisition Is a Sign of ‘Bottom-Up’ Recovery. In the past, some have thought the economy extended-stay segment to be more risky than, for example, limited-service hotels, Skinner said, adding that “the truth of the matter is, it is not.”
Hotel News Now January 25, 2021 – Resilient Extended-Stay Segment Poised for More Growth. Mark Skinner, partner at The Highland Group, said it’s no secret that extended-stay hotels have been “the best performing segment in the hotel industry right now.” He anticipates more brands will look to convert traditional hotel rooms into an extended-stay offering or launch extended-stay conversion brands.
Serviced Apartment News November 30, 2020 – Serviced apartment and extended stay industry trends for 2021.”Across all metrics extended stay hotels continue to perform better than the overall hotel industry six months following the start of the pandemic,” said Mark Skinner, partner at The Highland Group.
Serviced Apartment News November 12, 2020 – US extended stay continues to outperform wider hotel sector. “Occupancy is now higher than during the low points in 2009 and is rapidly approaching parity with quarterly occupancy during the last recession,” [said Mark Skinner, partner at The Highland Group.]
Serviced Apartment News November 6, 2020 – Biden presidency could benefit extended stay and wider travel markets. “While many large scale infrastructure projects are not shovel ready and, therefore, their expected boost to travel will take time, once they start they can provide significant extended stay lodging demand for several years, [Mark Skinner] added.”
Business Travel News October 26, 2020 – Extended Stay Proves Resilient Amid the Pandemic. “For the month of August, the average occupancy level for upscale extended stay properties in the U.S. was 50.8 percent; for midscale extended stay, it was 63.1 percent, according to The Highland Group.”
Serviced Apartment News October 6, 2020 – US economy extended stay demand grows for second month. “Economy extended-stay hotels have consistently reported declining RevPar losses over the last five months. The 4.3 per cent fall in August 2020 was less than 10% of the decline in overall hotel RevPar†said Mark Skinner, partner at The Highland Group.
Hotel Community Forum October 1, 2020 – Taking An ‘Extended’ Look. “Historic data on both the extended-stay and overall hotel market is essential to consider. The trend lines for both are closely correlated. We are in a very unusual period now statistically, but gradually extended-stay hotel and overall hotel performance will become closer,” [Mark Skinner] said.
Hotel Management Magazine September 2020 – Extended-stay continues to outperform wider hotel industry. “Extended-stay hotels are widening their occupancy premium despite smaller reductions in ADR compared to the overall hotel industry,” said Mark Skinner, partner at The Highland Group.
Headline News Now Apartment News September 1, 2020 – 5 things to know: 1 September 2020. “Economy extended-stay hotel demand in July grew 1.2% compared to 2019,”the first such gain in demand reported by any segment of the hotel industry in the last six months,” [said Mark Skinner.]
Hotel Business August 20, 2020 – The Highland Group: Extended-Stay Hotel Occupancy Premium at Record Level. “Extended-stay hotels are widening their occupancy premium despite smaller reductions in ADR compared to the overall hotel industry,” said Mark Skinner, partner at The Highland Group.
Asian Hospitality August 19, 2020 – Report: Extended-Stay Hotels On Top In First Half Of 2020. [Mark Skinner] said “Economy and mid-price extended-stay demand in June was almost back up to March levels.”
Asian Hospitality July 10, 2020 – Short-Term Rentals Outpacing Hotels During Pandemic. [Mark Skinner] says “This is partly because staying in the units, which are mainly one and two-bedroom apartments, requires minimal physical contact with guest service personnel and other guests compared to a hotel.”
Short Term Rentalz July 9, 2020 – The Highland Group and AllTheRooms partner for US rental report. [Mark] Skinner added: “Airbnb’s recommendation that its landlords pivot to longer-term guests was a good one given the relatively strong performance of short-term rentals and extended-stay hotels.”
Headline News Now Apartment News July 8, 2020 – 5 things to know: 8 July 2020. “Focusing on longer-term guests and minimal physical contact with renters are key factors resulting in relatively strong performance for the short-term rental sector,” said Mark Skinner, partner at The Highland Group.
Serviced Apartment News June 3, 2020 – US economy extended stay RevPAR is double that of luxury sector in April. “The latest figures from The Highland Group show that the economy extended stay hotels reported average RevPAR of $29.78 in April, around double that of the luxury sector.”
Hotel News Now June 2, 2020 – 5 things to know: 2 June 2020. “Extended-stay hotels, especially the economy segment, should continue to demonstrate RevPAR loss resilience during the foreseeable future,” Mark Skinner, partner at The Highland Group, said in an email.
Asian Hospitality May 14, 2020 – Extended-Stay Hotels End First Quarter Better Than Most. “The re-opening of mid-price and upscale extended-stay hotels will increase competition within the sector but should limit falls in overall extended-stay hotel ADR and help keep RevPar declines lower than the overall hotel industry,” said Mark Skinner, a partner at the Highland Group.
Business Insider April 28, 2020 – Airbnb says it’s going to focus on longer-term stays, but analysts worry its short-term rental roots will make it hard to grab a piece of the $18 billion market. “Regardless, the longer-term stay market is not only sizeable, it’s one that no company has yet dominated. And because the types of properties listed on Airbnb – apartments, houses, rooms inside homes – are well-suited for longer-term stays, the company could become a significant player in the space,” [Mark] Skinner said.
BISNOW April 21, 2020 – Blackstone, Starwood Bet On The Long-Term Stay Segment’s Resilience “There is a significant residential guest component in economy extended stay hotels,” Mark Skinner, a partner at hotel consultancy Highland Group.
Hotel News Now April 21, 2020 – Extended-stay hotels poised to weather drop in travel “The segment that will be affected by the coronavirus (COVID-19) pandemic the least will be the extended-stay product, particularly those in the economy chain-scale segment,” said Mark Skinner, partner at The Highland Group.
Hotel Business April 8, 2020 – The Highland Group: Economy Extended-Stay Shows Resilience “Economy extended-stay hotels have demonstrated resilience against previous crises. Early data indicates the segment is suffering far less RevPAR decline than the overall hotel industry amidst COVID-19,” said Mark Skinner, partner at The Highland Group.
Skift April 7, 2020 – Economy Extended Stay Is the Strongest of the Weak “I think the economy extended stay segment in particular will suffer less of a RevPAR decline relative to the rest of the hotel industry for the duration of this crisis,” [Mark] Skinner said.
Hotel News Now March 25, 2020 – A roundup of independent hotel news “Lifestyle hotels and soft-brand collections, specifically, have been two of the hotel industry’s fastest-growing segments over the past seven years, increasing rooms by 14% and 21% respectively,” Kim Bardoul, partner at The Highland Group, said in the report.
Hotel Business March 9, 2020 – Extended-Stay RevPAR Rises in Most Markets, But Declines Increase “Supply growth and the effect from the coronavirus will have the largest impacts on extended-stay hotel RevPAR in 2020,” Mark Skinner, partner at The Highland Group, said in a statement. “The list of MSAs with lower extended-stay hotel RevPAR in 2020 compared to 2019 is expected to be longer than those reporting it last year.”
Asian Hospitality March 9, 2020 – Report: Independent Boutiques Maintaining Growth “Major franchise companies recognize the strong performance of this lodging type and continue to debut new lifestyle hotel and soft brand collections at differing price points.” said Kim Bardoul, partner at The Highland Group.
Hotel Management March 9, 2020 – Highland Group: Extended-stay market up but decelerating “Supply growth and the effect from the coronavirus will have the largest impacts on extended-stay hotel RevPAR in 2020,” Mark Skinner, partner at The Highland Group, said in a statement. “The list of MSAs with lower extended-stay hotel RevPAR in 2020 compared to 2019 is expected to be longer than those reporting it last year.”
Hotel Business March 5, 2020 – Report: Boutique Hotels Outperform Traditional Hotel Supply “Lifestyle hotels and soft brand collections, specifically, have been two of the hotel industry’s fastest-growing segments over the past seven years, increasing rooms by 14% and 21%, respectively”, reported Kim Bardoul, partner at The Highland Group. “Major franchise companies recognize the strong performance of this lodging type and continue to debut new lifestyle hotel and soft brand collections at differing price points.”
Hotel Business March 3, 2020 – Despite Supply Growth, Extended-Stay Occupancy Remains High “Fundamentally, the extended-stay segment is very well placed to handle the expected slowdown in RevPAR growth and the potential impacts of the coronavirus,” said Mark Skinner, partner at The Highland Group.”
Hotel Management January 28, 2020 – Choice adds extended-stay brand “The demand for hotel stays of seven-plus nights is nearly 20 percent of all room nights sold, yet only 9 percent is in the extended-stay segment,” according to data from The Highland Group and Kalibri Labs.
Benzinga January 27, 2020 – Choice Hotels Introduces Everhome Suites To Help Developers Build A Strong Portfolio And Empower Guests’ Success On The Road. “The demand for hotel stays of seven-plus nights is nearly 20% of all room nights sold, yet only 9% of the supply is in the extended-stay segment,” according to data from The Highland Group and Kalibri Labs.
Serviced Apartment News January 2020 – US extended stay: still strong with opportunities aplenty. US extended stay sector in “great shape”. “Despite slowing overall hotel demand growth, extended-stay hotel demand accelerated over the last five quarters.” said Highland Group partner Mark Skinner.
Serviced Apartment News November 19, 2019 – US extended stay sector in “great shape”. “The extended-stay hotel segment is in great shape to perform well during the cyclical slowdown which is widely forecast over the near term,” said Highland Group partner Mark Skinner.
Asian Hospitality November 5, 2019 – Report: Extended-Stay Bookings Still High, But Traditional Hotels Are Seeing Most Of Them. “Non-extended-stay hotels accommodated 71.15 million room nights from guests staying seven nights or longer in the year ending June 2019, whereas the corresponding figure for the extended-stay hotels were 50.23 million,” according to The Highland Group.
Hotel Management October 18, 2019 – Highland Group: Extended-stay market ‘far larger’ than expected. “For the first time we have reliable empirical data on the size of the extended-stay market in hotels and it is far larger than we expected,” stated Mark Skinner, partner at The Highland Group.
Hotel Business October 17, 2019 – Report: Extended-Stay Demand in Traditional Hotels is 40% More Than in Extended-Stay Hotels. “For the first time, we have reliable empirical data on the size of the extended-stay market in hotels, and it is far larger than we expected,” said Mark Skinner, partner at The Highland Group.
Hotel Management September, 2019 – Extended-Stay development booms as demand grows. “As of the first quarter of 2019, supply in the extended-stay segment of the U.S. hotel industry was up 6.1 percent, according to The Highland Group.”
Serviced Apartment News August 15, 2019 – US extended-stay occupancy reaches Q2 record level. “The [Highland] Group reported extended-stay hotels saw the strongest quarterly demand growth in a year.”
Hotel Business August 15, 2019 – Report: Extended-Stay Room Construction is Down, Occupancy Rises, “The deceleration in supply growth coupled with the strongest quarterly demand increase in a year moved occupancy to 79.9%, the highest second quarter level ever reported.”
Hotel Management August 13, 2019 – Highland Group: Q2 extended-stay occupancy reaches record level, “The Highland Group pointed to rising construction costs and lengthening development timelines as two factors slowing supply growth.”
Business Travel News August 12, 2019 – U.S. Extended-Stay Occupancy Set a Record in Q2, “Only the economy extended-stay segment saw a boost, as rooms under construction jumped 89 percent, from 2,380 to 4,501.”
Hotel Business August 7, 2019 – Evolving guests, tech define extended-stay, “While RevPAR in Q1 2019 increased by .7%, it was the slowest quarterly gain in the segment in nine years, according to The Highland Group’s Q1 2019 report on the extended stay market.”
Hotel Management July 18, 2019 – Soft-brand collections: The new norm?, “At the end of 2018, hotel guestroom supply for the total U.S. rose 2 percent, while soft brands increased their room count 31.6 percent, according to the [Highland Group].”
My Place Hotels Blog April 29, 2019 – My Place Hotels Unveils Key Developments at its 2019 Convention, “My Place’s all new construction product, relatively low per hotel development costs, and strong brand support are key competitive strengths in making My Place one of the fastest growing extended-stay hotel brands in the country,” [Mark] Skinner said.
Hotel News Now April 1, 2019 – Extended-stay hotels fight cost, amenity, bias barriers. “Extended-stay demand growth continued to outpace supply growth by 0.4 percentage points in 2018, which yielded $13.3 billion in room revenue for the year”, according to numbers presented by Mark Skinner, partner at The Highland Group.
Hotel Business March 13, 2019 – The Highland Group: Extended-Stay Construction Declines, “Despite the decline in supply growth, the timing of the 47,000 extended-stay rooms under construction will still be a major factor in the segment’s performance in 2019,” said Mark Skinner, partner at The Highland Group.
Hotel Business March 13, 2019 – The Highland Group: Room to Grow for Boutique, “Supply has increased 14% and 21% for lifestyle and soft-brand collections, respectively, through 2018; however, over 50 MSAs are underrepresented with boutique hotel product. There is opportunity to develop in this segment,” said Kim Bardoul, partner at The Highland Group.
USA Today March 8, 2019 – Should you ditch your vacation rental for an extended-stay hotel? “Extended-stay hotels are the fastest growing industry segment in the United States,” says Mark Skinner, a partner at Highland Group.
Atlanta Business Chronicle February 8, 2019 – Boutique hotels a rising market in metro area “A shift toward the boutique hotel product for a different-than-typical experience has increased in popularity,” according to the 2018 Boutique report.
Hotel News Now February 4, 2019 – Niche luxury extended stay find ways to stand out “As a result of legislation in cities such as New York and San Francisco which restrict Airbnb from renting out properties for less than 30 consecutive nights, those properties “become less competitive with traditional hotels and more competitive with serviced apartments,” [Mark] Skinner said.
San Diego Union Tribune November 15, 2018 – Would your employer rent you a furnished apartment? “Nationally, the biggest reason for corporate housing in 2017 was work relocation (33 percent),” said The Highland Group.
Asian Hospitality November 2018 – Building Long-Term Profit. “The sector is posting some of the largest gains in supply, demand and room revenue growth that have ever occurred,” said Mark Skinner of The Highland Group.
Hotel Business November 12,2018 – Extended-Stay Occupancy Stays Near Record High Despite Signs of Cyclical Slowdown. “Despite the deceleration in performance metrics, Q3 average occupancy stayed above 80% for the fifth straight year,” said Mark Skinner at The Highland Group.
Hotel Business August 7,2018 – Staying power: Ex-stay is hot. “The economic fundamentals are driving demand: employment growth, capital spending, lots of construction, relocation of people,” said Mark Skinner at The Highland Group.
The Wall Street Journal July 16,2018 – Demand Rises for Furnished Rental Apartments. “Last year, [room] revenue in the corporate-housing market -where apartments are typically leased for at least 30 days – rose 13% to $3.62 billion, according to [Mark Skinner of] the Highland Group, a [partner of the] hotel consulting firm that studied the market for the Corporate Housing Providers Association, a trade group.”
Atlanta Business Chronicle July 6,2018 – New hotels, venues increase North Fulton convention business.
Atlanta Business Chronicle June 8,2018 – Marriott boutique hotel planned in West Midtown. “The very nature of boutique lodging is like that of the many revived neighborhoods of Atlanta – unique, experiential and interesting,” said boutique hotel expert Kim Bardoul, partner at The Highland Group.
Hotel News Now April 24,2018 – Lower costs and higher margins drive extended stay. “[Mark Skinner] called that acceleration “contrary to what’s typical at this stage of the cycle.”
Business in Vancouver April 18,2018 – Corporate housing market strong. Highland Group’s report identified the entertainment sector as the biggest identifiable source of demand in terms of industry sectors, at 12%.
Hotel Business March 6,2018 – Report: National Extended-Stay RevPar Rises. “The fundamentals for continued demand growth are solid in most markets. However, the list of MSAs with lower extended-stay hotel RevPAR in 2018 compared to 2017 is expected to be a lot longer than the 24 reporting it last year,” said Mark Skinner, partner at The Highland Group.
Asian Hospitality March 6,2018 – Extended-Stay Revenue Reached All-Time High in 2017. “Extended-stay hotel revenues in 2017 reached an all-time high of $12.4 billion.”
Services Apartment News February 2,2018 – The economy sector rises to the top. According to Mark Skinner “There’s a lot of older product out there, which in some cases has become obsolete. Not only is there a good opportunity for new development of new hotels, but also for replacement of existing assets.”
Today’s Hotelier February 1,2018 – The great extended-stay BOOM. “The full-year 2017 was a great time for extended-stay hotels and provided the fundamentals for the industry to absorb a large number of new openings happening in 2018, according to research from The Highland Group.
Skift January 22,2018 – Marriott’s Revamp of Aloft and Element Points to the Future of Select Service Hotels. “The perception with Element was that it cost too much to build. Aloft was initially aimed at urban locations, which is limiting, and has subsequently moved into suburban locations.” Skinner said.
Skift January 16,2018 – Yotel Expands Into Branded Residences With an Extended Stay Element. “It’s easier to manage if they keep branded residences and extended stay separate and also, from a zoning standpoint, you could probably develop that on residential land if you only do branded residences,” Skinner said.
Hotel News Now January 9,2018 – Soft-brand growth hinges on push into more segments. With demand for experiential and authentic travel experiences continuing to grow, Wyndham, Choice, Marriott and Hilton are all predicting robust growth for their soft-brand offerings in 2018 and beyond. Kim Bardoul, hotel analyst at The Highland Group, said the question is whether the brands with lower price points can recreate the level of success the sector’s higher-end concepts are continuing to enjoy.
Asian Hospitality November 14, 2017 – A Good Year for Extended Stay. “The full year 2017 will be very good for extended-stay hotels and provide solid fundamentals to start absorbing the large number of new rooms opening in 2018,”said the report.
Asian Hospitality October 11, 2017 – Hurricane clouds have silver lining for some hotels. “Empirical evidence from the post Hurricane Katrina period strongly indicates the recent severe weather will significantly increase extended-stay hotel revenue per available room in markets closest to where Hurricanes Harvey and Irma landed,” [Mark] Skinner said.
Serviced Apartment News October 4, 2017 – Interview: Mark Skinner, The Highland Group. Mark Skinner talks to SAN about the US extended stay hotel market performance and prospects.
My Place Newsletter September 20, 2017 – My Place Convention Takes Attendees Behind The Scenes and Beyond Borders! “With fewer rooms, My Place can enter markets other brands can’t,” Skinner said.
Atlanta Business Chronicle September 8, 2017 – West Elm scouts Atlanta for possible hotel. Atlanta boutique hotel expert Kim Bardoul, partner of The Highland Group, said “boutique hotels are not heavily represented in the downtown, Midtown or Buckhead markets, making up only about 15 percent of the total hotel supply.”
Hotel News Now August 23, 2017 – How independent hoteliers adapt to the changing cycle. Kim Bardoul moderates the “cycle dynamics for independent hotels” panel contributing with her industry insight supported by the Boutique Hotel Report.
Asian Hospitality August 22, 2017 – Extended Stay Hotel Supply Keeps Pace with Demand, says Highland Group. “Extended-stay hotels continue to absorb record levels of new rooms while maintaining occupancy above their long-term average,” says The Highland Group.
Hotel News Resource August 22, 2017 – Softscribe Inc. Names Top 10 Quotes From Industry Leaders at Hotel Data Conference 2017. “There are 20K indie rooms under construction.” -Kim Bardoul, Partner, ISHC – The Highland Group Hotel Investment Advisors Inc.
Hotel Management August 15, 2017 – Multibrand push, innovations fuel extended-stay growth. “The extended-stay sector continues to thrive” Mark Skinner, partner at The Highland Group, told Hotel Management in June that “this year’s supply increases are slated to reach 7 percent to 8 percent.”
Serviced Apartment News August 16, 2017 – More strong numbers from US extended stay sector. “Very high supply growth has limited ADR increases in the upscale segment but the 2.5 per cent Q2 gain was a big improvement on the 1.1 per cent growth in Q1 2017,” [says Mark Skinner, Partner at The Highland Group].
Hotel News Now June 28, 2017 – Extended-stay hotels making headway into Europe. “It’s a real possibility that Brexit could have an effect on the market in London,” said Mark Skinner, who follows the European industry as a partner at U.S.-based Highland Group Hotel Investment Advisors.
Hotel News Now June 26, 2017 – US extended-stay hotels thrive in face of supply growth. “Although we’re having strong increases in supply, demand is close to catching up. Occupancies this year were projected to show a slight decline, but based on the first quarter, they’re not – although there is a record number of rooms under construction: more than 40,000,” [says Mark Skinner, Partner at The Highland Group].
Hotel Management June 13, 2017 – Extended-stay hotel segment continues to find quiet success. [Mark] “Skinner’s [, Partner at The Highland Group] biggest concern for the segment comes not from Airbnb but from the forecasted 7-percent to 8-percent supply increase taking place in 2017.”
Hotel New Now May 17, 2017 – US extended-stay hotels see occupancy rise in Q1. “Extended-stay hotel occupancy above its long-term average and the strongest trend in demand growth in a dozen years provides a solid foundation to absorb the record number of new rooms under construction,” says Mark Skinner, Partner at The Highland Group.
Skift April 19, 2017 – How Extended Stay Hotels Are Pivoting Towards a New Generation of Travelers. “Demand is at a record high,” said Mark Skinner, partner at The Highland Group. “More people are staying at extended stay hotels in the U.S. today than there were as ever before but what’s also true of the overall hotel industry is that these extended stay hotels are seeing record revenues.”
Hotel News Now April 5, 2017 – What sets indies and lifestyle hotels apart? Kim Bardoul, partner at The Highland Group, shared U.S. performance data on the boutique segment. “Compound average supply growth for independent, lifestyle and soft brand collection boutiques has risen since 2016, and annual revenue per available room exceeds U.S. averages for industry wide performance.”
Asian Hospitality April 4, 2017 – Long Run for Extended Stay. “By far, the largest increases in supply are forecast in 2017 and 2018,” said [Mark Skinner of] The Highland Group.
Hotel News Now March 31, 2017 – Supply growth concerns inch into extended-stay segment. “Demand for all extended-stay properties last year was up about 5% (year over year), and unless there’s an uptick in demand, you’re going to see occupancy decline,” [said Mark Skinner, a partner at The Highland Group.]
HRS Group Press Release February 23, 2017 – HRS Adds 2,000 Extended-Stay Units for Corporate Hotel Programs. “After six consecutive years of annual room revenue growth ranging from 6 to 13 percent, we project extended-stay room revenues to increase five to seven percent in 2017,” said Mark Skinner, a partner at The Highland Group.
Hotel News Now December 2, 2016 – Demand for extended-stay keeps pace with supply growth. “You can expect (RevPAR growth) to persist through 2017, but expect RevPAR gains lower than 2016, which is going to be 3% to 4%,” [said Mark Skinner, a partner at The Highland Group.]
Hotel News Now November 15, 2016 – Extended-stay demand boosts occupancy, report shows. “Extended-stay occupancy should finish 2016 above its long-term average of 73.8%.” [said Mark Skinner, a partner at The Highland Group.]
The Houston Chronicle November 15, 2016 – Building boom brings new hotel to northwest Houston. “Houston was one of the first markets to rebound from the recession, and a lot of new office and hotels followed it.” [said Mark Skinner, a partner at The Highland Group.]
Hotel Management October 3, 2016 – Extended-stay supply beginning to outpace demand. “Extended-stay hotel companies know that new room construction is at an all-time high and therefore, they expect a slowdown to build up occupancy,” said Mark Skinner, a partner at The Highland Group.
Travel Market Report September 23, 2016 – Sonesta Burnishes Extended Stay Brand. “Consumers spent nearly $10 billion at U.S. extended-stay hotels in 2015”, said Mark Skinner, partner at The Highland Group.
Hotel News Now August 25, 2016 – Supply boom could hurt extended-stay RevPar growth. “At midyear 2016 there were more than 40,000 extended-stay hotels rooms under construction in the US.” [Mark Skinner reported].
Hotel Business August 7, 2016 – Positive signs ahead for this growing segment of the industry. “So what you’re likely to see over the next year or year and a half is that supply growth will exceed demand growth and occupancy will start to decline from what was record-high levels,” [Mark Skinner] explained.
Tulsa World May 1, 2016 – Stay a (long, long) while: Hotel guests stay for long haul, like it. “With two small children and two small dogs in the room, it was actually bloody awful,” [Mark Skinner] says. “But it was a lot better than staying in a (regular) hotel room.”
Hotel News Now April 2016 – Investors target growing US serviced-apartment industry. Mark Skinner said, “The variability in the performance of serviced apartments is far less volatile than hotel or extended stay because operators can vary supply depending on demand.”
Asian Hospitality Magazine March 2016 – Extended Stay Enjoys Long-Term Recovery. “At almost 35,000 extended-stay hotel rooms under construction are at the highest ever reported.”
North America Hotel Investment News November 25, 2015 – Strong demand pushes extended-stay development “According to The Highland Group, the rate of increase in supply of extended-stay properties in the United States has accelerated for six consecutive quarters.”
Hotel News Now November 13, 2015 – 5 things to know: 13 November 2015. “Study author, [Mark Skinner], says accelerating supply growth will likely continue and could put pressure on occupancy.”
Lodging Magazine October 19, 2015 – Investors Bet on Boutique and Lifestyle Hotels. “The independent boutique has remained steady in growth, but the soft brand and lifestyle segments have clearly grown stronger in the past two years,” [Kim] Bardoul says.
Business Travel Executive September 2015 – The Stay After Tomorrow. “According to Mark Skinner, a partner with [The] Highland Group, supply should finally meet demand in the next year or two at which point rates might stabilize. However, he says, rate increases should remain well above inflation before starting to moderate in 2016.”
North America Tourism & Hospitality Investment Conference July 29, 2015 – Extended-stay supply/demand imbalance creates development opportunities. “According to The Highland Group extended-stay hotel room revenues are increasing by more than $1 billion a year.”
Hotel News Now July 9, 2015 – What’s driving economy extended-stay hotels – by Stephanie Ricca. “There’s just not a lot of new construction in economy extended-stay product,” [Mark] Skinner said.
Hotel Management Magazine June 17, 2015 – Extended-Stay Operating metrics remain strong in Q1 – by HM Staff. “Hotel demand is rising overall,” said Mark Skinner.
Los Angeles Business Journal May 4, 2015 – Checking In – by Hannah Miet. However, [Mark] Skinner said that “as their stay lengthens, they tend to migrate to the more residential corporate apartments.”
Vancouver Business Journal April 21, 2015 – Real Estate Roundup – by Peter Mitham. “Vancouver is expecting a record year in 2014” The Corporate Housing [Industry Report] forecast for last year.
Hotel News Now April 7, 2015 – 5 trends in the boutique business – by Patrick Mayock. Highlights from the boutique hotel panel discussion from the recent Hunter Hotel Conference in which The Highland Group’s Kim Bardoul moderated.
Philadelphia Inquirer March 27, 2015 – The latest in extended stay: curated, boutique-like – by Samantha Melamed. “Both the boutique hotel segment and extended-stay hotel segment are growing faster than the overall hotel industry. So to combine it makes sense in many ways,” The Highland Group’s Mark Skinner said.
Hotel News Now March 26, 2015 – Report defines boutique, lifestyle, soft brand – by Stephanie Ricca. As traveler sentiment and preferences change, the industry has responded over the years with new hotel product to address guest needs, said Kim Bardoul, consultant with The Highland Group and co-author of the report. Along the way, the need for better definitions arose to help owners, investors and even brand companies to clearly define their niche.
Asian Hospitality March 11, 2015 – Extended-stay hotels had “exceptionally” good year – by Judy Maxwell. “As previous peak years approached, extended-stay room supply growth was much faster than the change in demand,” Mark Skinner of the Highland Group notes.
GlobeSt.com October 30 2014 – DeBoer Launches Fifth National Brand – by Brian J. Rogal. “The option for short stays is a fundamental difference that sets the brand apart in the corporate apartment sector,” says Mark Skinner of the Highland Group.
Hotel Management October 20 2014 – Urban and dual-branded projects keep extended-stay going strong – by Bruce Serlin. “New supply is coming beyond the 30,000 [room level], but it’s taking a long time to get there.” [Mark] Skinner said.
Hotel News Now August 15 2014 – 5 things to know: highlights from the Hotel Data Conference – by Ed Watkins. “RevPAR for the extended-stay segment of the U.S. hotel industry will increase above inflation rates until new supply additions in 2016 and 2017 put the brakes on growth,” according to a report from The Highland Group.
Serviced Apartment News August 13 2014 – Number of US extended stay rooms under construction reaches six-year high – by George Sell. The Highland Group says, “the number of US extended-stay rooms under construction has increased almost threefold in the last four years and, at more than 20,000 rooms, it has reached a six year high.”
Atlanta Business Chronicle June 13 2014 – Downtown Office Building Could Become Hotel – by Amy Wenk and Douglas Sams. Kim Bardoul with The Highland Group said, “an independent boutique fits really well into a converted product. It makes it unique and kind of an experience.”
Prairie Business Magazine May 27 2014 – Extended-stay hotels find demand in Grand Forks – by John Hageman. “Demand increased faster than supply despite a net gain of more than 10,000 rooms (in 2013), which was the largest annual increase since 2009,” the Highland Group report stated.
Hotel Business May 7 2014 – Extended-Stay: Outlook for segment is Mixed – by Stefani C. O’Connor. “The Highland Group data shows extended-stay RevPar exceeded its 2007 nominal high in 70% of those 100 largest markets.”
Asian Hospitality April 29 2014 – Welcome to My Place – by Judy Maxwell. “When an investment bank makes that large of a play it drives interest, said Skinner.”
Serviced Apartment News March 13, 2014 – US sees record extended stay RevPar in most major markets – by George Sell. “The Highland Group says room supply is expected to increase by about four per cent in 2014 but in more than half of the 100 largest markets no new rooms are under construction.”
New York Times March 11, 2014 – Extended-stay hotels climb in Manhattan – by C.J. Hughes. “In Manhattan, the number of non-hotel units has fluctuated between 3,200 and 4,000 units in the last several years, though this year it is expected to be higher, according to Mark Skinner, a partner with the Highland Group.”
Hotel News Now January 29, 2014 – Extended-stay hotel sector evolving in Europe – by Benjamin Jones. “I think it’s a given that Europe is underserved by the product compared to the United States where there are already an estimated 350,000 extended-stay rooms,” said Mark Skinner, partner at Highland Group Hotel Investment Advisors.
SF Gate December 28, 2013 – Firms make themselves at home in Bay Area housing – by Carolyn Said. “A hotel room can get claustrophobic in 30 days,” said Mark Skinner, a partner at The Highland Group.
Serviced Apartment News (London based) November 20, 2013 – US sees slight decline in extended-stay RevPar growth but outlook is positive – by George Sell. Mark Skinner said: “As new room supply is not a concern nationally until well into 2014, real RevPar increases should continue during the near term.”
Business Travel News October 15, 2013 – BTN’s 2013 Hotel Chain Survey: Homewood, TownePlace Earn Top Extended-Stay Tier Scores – by Michael B. Baker. Extended-stay rates have been rising at a pace “better than the overall hotel industry but not as strong as most people had thought it would be,” [Mark] Skinner said.
Hotel News Now September 12, 2013 – Brand or independent? Weighing risks, rewards – by Patrick Mayock. “Tapping into a brand reservation system can generate demand that easily outweighs the cost of franchise fees”, said Kim Bardoul, a consultant with the Highland Group.
Atlanta Business Chronicle April 19, 2013 – Clermont to be reborn as upscale, boutique hotel – by Amy Wenk. “That’s going to be huge for [the Clermont] development,” said boutique hotel consultant Kim Bardoul with The Highland Group. “You’ll be able to walk to the Ponce City development. That will certainly support it.”
Hotel News Now March 27, 2013 – 5 things to know: 27 March 2013 – by Ed Watkins. In 2012, extended stay nominal revenue per available room was above its 2007 level in more than half of the 100 largest metropolitan statistical areas in the U.S., according to a new study from The Highland Group.
National Real Estate Investor March 13, 2013 – Hotel Buyers Have No Reservations About Extended-Stay Segment – by Beth Mattson-Teig. “I think, nationally, it is going to be another good year with an increase in demand and increasing average rate and RevPAR,” says [Mark] Skinner.
Lodging Hospitality Online September 3, 2012 – Extended Stay Hotel Lead the Industry – by Ed Watkins. Mark Skinner, partner with The Highland Group [said]; “I think, nationally, it is going to be another good year with an increase in demand and increasing average rate and RevPAR,” says Skinner.
Hotel News Now August 28, 2012 – Very Good Timing for ES Sonesta Launch by John Buchanan. And by converting existing assets, Mark Skinner said, Sonesta has chosen “a good way to kick off a new brand.”
Hotel Management.net August 10, 2012 – Growth in rates fuels extended-stay segment increases by Elaine Yetzer Simon. Mark Skinner, of The Highland Group, said “They’re getting close to their previous peaks. When that happens, with low supply growth, we should get greater increases in room rate.”
Wall Street Journal July 8, 2012 – Long-Stay Hotels Settle In by Alessia Pirolo. According to the consulting firm The Highland Group, only 2.7% of all U.S. extended-stay hotel rooms are in the New York state and northern New Jersey area. “There would be opportunity to develop the product,” says Mark Skinner, a Highland partner.
Lodging Hospitality July 6, 2012 – Evolving Extended-Stay Lodging Continues to Thrive in U.S. by Eric Stoessel. “Typically the percent of transient business goes up over expansionary times, but there’s been an increase in extended-stay business overall,” says Highland Group Partner Mark Skinner.
Lodging Hospitality July 5, 2012 – Extended-Stay Lodging Goes Global by Ed Watkins. “There’s definitely a market in Europe for extended stay. The segment is critically under served on a pan-European basis,” says Mark Skinner.
Atlanta Business Chronicle June 15, 2012 – Loudermilk seeks boutique hotel in Buckhead Village by Douglas Sams. “With stylish condos, luxury shopping and trendy restaurants, Buckhead is similar to the Uptown district in Dallas, which has several boutique hotels, including Hotel ZaZa. Buckhead has nothing like that”, said Kim Bardoul, a consultant with The Highland Group.
Lodging Hospitality May 9, 2012 – Extended Stay Takes Lead in Rate Growth by Ed Watkins. “If you look at last year’s extended-stay numbers, each quarter the rate of [ADR] increase was bigger than the previous quarter, and by the middle of the year it was rising faster than the overall hotel industry,” says Highland Group Partner Mark Skinner.
Hotel Business May 7, 2012 – Hotel Chains Look to Expand Extended-Stay Brands Internationally by Bruce Serlin. Mark Skinner, a partner in the Atlanta-based Highland Group, discourages people from assuming that the major brands are taking their upscale, extended-stay products to Europe, the Middle East and Asia because the U.S. market is somehow saturated.
Atlanta Business Chronicle March 2012 – Mandarin Oriental gives new identity to The Mansion by Amy Wenk. Mandarin’s move into the South, “reflects Atlanta’s growth as an international destination as Mandarin Oriental hotels are exclusively located in international gateway cities in the Americas.” said Kim Bardoul, a hotel consultant with The Highland Group.
New York Times February 9, 2012 – Luxury Long-Term Lodging Begins to Feel Like Home by Elizabeth Olson. The big hotel chains “are recognizing that there is an under-served niche in the market,” said Mark Skinner, a partner with The Highland Group.
Asian Hospitality December 2011 – Close to Home – New Extended-Stay Hotels Reshape the Market by Judy Maxwell. The last time occupancy was in the upper 70% range was from 2005 through 2007.
Green Lodging News September 30, 2011 – Another Book on Sustainability to Add to Your Collection by Glenn Hasek. The primary news source for sustainability issues. The lead story by Glenn is supportive of the book recently published on Sustainable Development. Peggy Berg of The Highland Group contributed a chapter in this book.
The New York Times September 19, 2011 – Putting the Staff Up in Style by Julie Weed. Over the last few years, corporate apartment rentals have been moving up the amenity spectrum, according to Mark Skinner, a partner with the Highland Group. “Travelers are starting to ask for the executive experience in an apartment setting,” he said.
Lodging Hospitality September 19, 2011 – MLIS 2011: Extended Stay Roars Back. Video – Mark Skinner moderates a panel with Gary DeLapp, Bill Duncan, Kevin Lewis and Liz Perkins.
Lodging Hospitality September 1, 2011 – MLIS Speakers Show Optimism for a Timely Recovery by Ed Watkins. “Extended stay hotels need to raise their rates,” moderator Mark Skinner declared.
Hotel News Now July 19, 2011 – MLIS: Extended Stay needs aggressive rate play by Jeff Higley. Skinner said; “The average length of stay at extended-stay hotels increased by two nights from 2008 to 2010 – another reason operators should feel comfortable about raising rates.”
Hotel and Motel Management May 2, 2011 – Extended-stay: Report shows segment primed to perform by Ed Lieber. “The decline to lower levels of supply growth will continue this year and next year,” said Mark Skinner, partner at The Highland Group. He said extended-stay hotels still make up less than 7 percent of total rooms in the U.S. “It’s still a niche, but growing,” he said. “Supply has always grown more rapidly in extended-stay than in the overall hotel industry due to the smaller base of units,” he said. “But this segment is rife with new sources of demand,” he said. “For example, not all travelers understand the benefits of extended-stay, such as the kitchenette in the room or suite, which can save money on meals,” Skinner said. “And, the longer you stay, the lower the rate,” he said.
SavannahNow.com February 3, 2011 – Hotel Owners Advised to Raise Rates by J.J. Rigsby. “We’ve got a good few years of significant increases in average rate if we want to take advantage of them,” Skinner told about 70 members of the Savannah Area Tourism Leadership Council on Wednesday at the Hilton Garden Inn in midtown.
National Public Radio February 3, 2011 “Hotel Rates Rising Audio – Mark Skinner discusses the hotel market recovery with Georgia Public Broadcast News.
Lodging Hospitality August 21, 2010 – Extended Stay Shines in First Half – by Ed Watkins. Another factor favoring the segment is the sharp decline in new room openings; in fact, says Skinner, the number of extended-stay rooms under construction is the lowest since 1995. “And it will get lower,” he says. “The cycle will repeat itself and construction will start again but not until financing becomes easier.”
The Atlanta Business Chronicle August 16, 2010 – Spanish Hotel Giant Lands Downtown by Lisa R. Schoolcraft. “They’ve been around a long time and are very well known in Europe,” said Mark Skinner, partner at The Highland Group Hotel Investment Advisors Inc., a hotel consulting group in Atlanta. Sol Meli’s entrance in the United States is also a way to capture the European travelers visiting here, Skinner said. “Look at what has happened in the other direction,” he said. “Marriott has a much greater presence in Europe than they did 15 years ago.” InterContinental Hotel Group Plc (NYSE: IHG), with its North American headquarters in Atlanta, is based in London, but its presence in Europe and globally has been predominately on the Holiday Inn brand, Skinner said. IHG’s StayBridge Suites and Holiday Inn Express have also been a growth engine for them in Europe, too,” he said.
The New York Times May 7, 2008 – Debt Worries Arrive for a Hotel and Mall Operator by Terry Pristin. Mark Skinner, a partner in The Highland Group, a hospitality research and consulting firm based in Atlanta, said the company’s strategy is promising. “If you can get your message across to the right audience, there’s no reason why that shouldn’t result in an increase in business,” he said. “People are looking to economize.”
The Wall Street Journal June 1, 2006 – Extended-Stay Westin Planned by Peter Sanders. “The extended-stay market, with about 260,700 rooms nationwide, is growing at roughly 5% to 6% a year, compared with growth of 1% to 2% across the entire industry,” said Mark Skinner, partner at The Highland Group, a hotel consulting and research firm in Atlanta.
The New York Times April 21, 2004 – Blackstone Expands Holdings in Long-Term Lodging by Terry Pristin. In recent years, as investment capital has become less available, the pace of construction has slowed. Last year, there were 3,303 lower-priced extended stay hotels under construction, compared with 4,299 in 2002, according to the Highland Group, a hotel consulting, research and appraisal company in Atlanta. As of December, Extended Stay America said it had 11 hotels in the pipeline. Industry specialists also said that unlike most hotel chains, which give individual managers discretion in setting rates, rates at Extended Stay America are centrally controlled and uniform for all customers, whether corporate or individual. “That will change under Blackstone,” predicted Mark A. Skinner, a partner in the Highland Group, the Atlanta hotel consulting company. “It’s a good area to grow revenue.”
Hotel and Motel Management April 5, 2004 – Blackstone to acquire ESA’s portfolio by Jeff Higley. “Obviously, there is some fat that could be trimmed off by Blackstone,” said Mark Skinner, partner with The Highland Group, an Atlanta-based consulting firm. “On the operations side duplicate job functions could be eliminated. On the real estate side underperforming properties or sites that have been purchased for future development could be sold,” Skinner said. “Once the deal is complete, Blackstone will control 68 percent of the mid-price segment’s 92,000 rooms,” he said. “There’s no doubt there’s going to be some competition between the two main brands [Homestead and ESA],” he said. “But there’s some differentiation based on the distribution of the brands, and that will open up new opportunities down the road. For example, the ESA brand has a heavy concentration of properties in Southern California and Chicago where Homestead is under represented,” Skinner said.
Hotel and Motel Management June 2, 2003 – Corporate Housing sector takes note from hotel industry by Patricia Alisau. “Corporate housing is a good fit for a hotel portfolio,” according to Mark Skinner, a consultant with The Highland Group, a hospitality research firm in Atlanta. “It blends very well because it is a different slice of the market,” Skinner said. It’s another alternative.”
The Wall Street Journal October 30, 2002 – Corporate Apartments Are Going Upscale by Ray A. Smith. Rates have come down. Average monthly rents for corporate apartments fell 1% nationwide in 2001, to $2,568, according to The Highland Group, an Atlanta-based hospitality consulting firm. Some of the biggest drops were in Philadelphia, where rents fell 17% on average, to $2,313 from $2,784, in Seattle, where the average slid 14% to $2,662, and in Phoenix, down 10% to $2,243 from $2,499. Meanwhile, as corporate-housing providers are spending more on marketing and upgrades, they have slashed their holdings because of decreased demand. the number of corporate-housing units in the US declined 14% in 2001, to 73,523 units from 85,553 in 2000, and is forecast to decline 3% this year, says The Highland Group.
The Wall Street Journal September 12, 2002 – Hotels Fare Better Than Expected Partly Due to Low Interest Rates by Stephanie Paterik. “An increasing number of small hotels and motels, typically classified as having fewer than 100 rooms, are relying on such loans to stay afloat,” according to Peggy Berg, president of The Highland Group, an Atlanta-based hotel-research firm.
The New York Times August 19, 2001 – Between Hotel and Home by Janet Piorko. “The project – the first such venture associated with Ritz Carlton – is one of the more luxurious examples of extended-stay accommodations, which make up the fastest growing segment in the lodging business,” according to Mark Skinner, a partner with The Highland Group, a consulting and research firm specializing in the field. “Their number has grown from 52,000 such units in the United States in 1995 to 212,000 last year,” Mr. Skinner said. Although around a third are what he calls upscale, such as Residence Inn by Marriott, only a few are deluxe.
The Dallas Morning News December 9, 2000 – Home suite home – Extended-stay hotels flourish in area by Kim Horner. “The strong economy, especially in the high-tech industry, has created a growing population of mobile workers,” according to a study by The Highland Group Hotel Investment Advisors Inc. in Atlanta.
Hotel and Motel Management October 16, 2000 – Figure reinforce segment’s strength by Jeff Higley. “You’ve really got a situation in which all of the fundamental performance measures took a step ahead even though there was a 15 percent increase in supply,” said Mark Skinner, principal with The Highland Group an Atlanta based consulting company that authored the study.
The Atlanta Business Chronicle October 26, 1998 – Resort Town by Shade Elam. “In fact, Atlanta has experienced tremendous growth in the extended-stay and limited-service hotels. But full-service hotels have not kept up with demand,” according to Mark Skinner, of The Highland Group Hotel Investment Advisors. “Room rates have risen to a point where new construction makes sense,” he said.
The Atlanta Business Chronicle September 21, 1998 – Barnes Growing Business by Shade Elam. “Efficiency Lodges are on the low end of the economy extended-stay hotel segment,” according to Mark Skinner of The Highland Group, an Atlanta company that researches the hotel market. “You don’t find much below $150 now,” Skinner said. “At that low price, many customers will be semi permanent residents, as well as people on temporary assignment”, he said.
The Atlanta Business Chronicle December 8, 1997 – Hotel Room Boom is Driving Down Rates Report Says by Shade Elam. According to Mark Skinner of The Highland Group Investment adviser in Atlanta, “the Olympics may have thrust Atlanta into the limited-service market faster than other cities. Atlanta may have gotten a jump on the current development cycle,” he said. “Areas outside the Perimeter are targeted for much of the growth,” according to Skinner. “Those include Gwinnett County near Interstate 85’s Exit 40, where Extended Stay America, AmeriSuites and Summerfield Suites all have locations. The Peachtree Corners-Norcross and Gwinnett Place North areas have also seen growth. Town Center in Cobb County and Southlake, south of I-285 in Clayton County, have also had significant growth in hotel supply. Capital is easier to get for limited-service hotels than for full-service hotels,” Skinner said. “Developers can often open a hotel with as little as 10 percent down with U.S. Small Business Administration funding.”
Real Estate Forum November 1995 – A Formula for Hotel Capital Reserves. “Since very few hotels have been built in recent years and funds for new construction are not widely available, buyers and investors are left with full-service hotels that may require considerably more CapEx than was previously thought, conclude the study’s authors, Mark Skinner, a consultant with The Highland Group in Atlanta and Henry B. Staley, a partner with Atlantic Hospitality Advisors, also in Atlanta.
Commercial Property News June 16, 1991 – Investment & Asset Management Hotel Properties by Robert Cummings. “We not overbuilt; we’re under demolished,” said Peggy Berg, President of The Highland Group in Atlanta.
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