The Highland Group Reports

Description

Key highlights of the report include:

• Traditional hotels accommodate two million more extended-stay rooms nights than extended-stay hotels
• Room revenues from extended-stay guests were 21% higher in traditional hotels compared to extended-stay hotels
• National average extended-stay demand share (ESOC) is 53% in extended-stay hotels and 13% in traditional hotels
• National average length of stay (ALOS) for extended-stay guests is 25 nights in extended-stay hotels and 14 nights in traditional hotels
• Extended-stay hotels report an overall 22% rate discount compared to traditional hotels for guests staying 7 consecutive nights or longer
• Booking lead time for extended-stays in traditional hotels averages 18 nights compared to 17 nights in extended-stay hotels
• Average reservation (booking) costs for extended-stays are 20% lower for extended-stay hotels than for traditional hotels

The report contains approximately 29,000 statistics across the 50 largest US hotel markets(1).For the years 2019 – 2022 and TTM June 2023 v TTM June 2022, segmented into 7+, 7-29 and 30+ night lengths of stay in both extended-stay and traditional hotels, the report includes:

• Extended-stay room revenues
• Extended-stay room night demand
• Extended-stay room night demand ratios
• Extended-stay demand share (ESOC)
• Extended-stay average length of stay (ALOS)
• Extended-stay ADR by length of stay
• Extended-stay booking leading time
• Extended-stay booking (reservation) costs

Note: (1) Based on total hotel rooms excluding Atlantic City, Honolulu, Las Vegas, Myrtle Beach and Orlando

Please note the report is copyright protected and distribution of the report outside of your company in electronic or printed form is prohibited.

©2023 The Highland Group. ©2023 Kalibri Labs. All rights reserved. Confidential and proprietary subject to license – do not reproduce or disclose. This report is intended for viewing by clients only and may not be distributed to or viewed by others or reproduced for distribution in any form.