From Hotel News Now:
Data repeatedly shows that the extended-stay segment weathers downturns and other challenges to the hotel industry better than other segments, and the coronavirus pandemic is no exception.
HENDERSONVILLE, Tennessee—The partial shutdown of the American economy has hit the U.S. hotel industry hard, and as many hotels closed temporarily, tens of thousands of service workers were furloughed or laid off. But one segment seemed to have weathered the ongoing storm better than many others: the extended-stay segment.
STR defines the extended-stay segment by grouping similar chains (so no independent properties) into an upper and a lower segment, delineated by year-end average daily rate. The sum of these two sub-segments then makes the Total U.S. Extended Stay segment. Because the brands cross chain scales, STR never separated the extended-stay segment out as its own scale by itself. The segment is part of our regular reporting and has, as of late, come into the spotlight. STR is the parent company of Hotel News Now.
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