Marriott Chases Lower Price Points With $100-a-Night Rooms
Marriott has realized it has been been leaving money on the table by primarily catering to expense-account travelers and vacationers in the luxury and upscale segments.
Marriott opened its first mid-market extended stay hotel last week, a milestone in its bid to capture budget-conscious travelers seeking apartment-style accommodations.
It also pits the company against established players like Extended Stay America and Choice Hotels, as well as newer entrants like Hilton.
The 124-room StudioRes property in Fort Myers, Florida was developed by Concord Hospitality for approximately $13 million with help from private equity firm Whitman Peterson. It offers studio-style rooms, full kitchens, and designated work areas.
"We just feel really good about the momentum that should build off of this opening in less than a year from announcing the brand and from the others that are already under construction," Noah Silverman, Marriott's global development officer for the U.S. and Canada, told Skift.
Marriott plans 40 more StudioRes properties through 2027, and said it is in talks for hundreds of potential deals across 150 U.S. markets.
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