The fastest growing sector of the hotel market: longer-stays.
The extended-stay supply of the hotel market is growing at three to four times the rate of supply in the overall hotel industry, said a report by The Highland Group.
Mark Skinner, a partner with the consulting firm, said it represents the fastest-growing segment of the hotel industry.
The group reported there were 16,921 extended-stay rooms under construction at the end of the second quarter of this year, which represented a 71% increase over the same period for last year.
“When people are leaving their homes for any length of time, they still want to feel like they’re home,” said the Asbury Park Press.
Report by David Wilkening
