WoodSpring Hotels, operators of the WoodSpring Suites and Value Place brands, launched a new prototype brand extension targeted to mid-priced, extended-stay travelers who typically stay for weeks at a time and want higher service levels. WoodSpring Suites Signature will provide amenities and services not found in the current WoodSpring Suites offerings.
According to Bruce Haase, CEO of WoodSpring Hotels, rates for WoodSpring Suites Signature will be roughly 20 percent higher than at stanard WoodSpring Suites properties, reaching roughly $300 to $400 per week depending on the market the hotel is located in.
"We are targeting mid-price extended stay travelers and business travelers, who typically have greater needs than what is seen in our existing portfolio," Haase said. “Our commitment to the extended stay segment remains as high as ever, evidenced by the fact that we continue to franchise as well as aggressively develop new properties on our own behalf. We expect to break ground on over 40 hotels in 2016, a quarter of which will be corporate owned and managed. In addition, we expect to break ground on more than 50 hotels in 2017, bringing us to nearly 100 newly-built hotels in two years.”
The new Signature prototype incorporates a residential-style exterior design with a larger lobby. Additional amenities include a convenience store, fitness center, 24-hour laundry facilities, staff training room and optional meeting space. Guestrooms offer amenities not found in WoodSpring Suites and Value Place hotels, including in-room dishwashers, quartz countertops in the kitchen and bathroom, upgraded drapery with sheers, more comfortable bedding with more pillows and stand-up showers with glass doors. Signature hotels also provide weekly housekeeping for longer-staying guests and daily light touch service for shorter stays.
According to Mike Varner, EVP of brand strategy and management at WoodSpring Hotels, attention was paid to expand on areas of the extended-stay experience, such as installing cubbyholes in guestrooms for increased storage.
"Our target guest stays with us for weeks at a time, and they need storage that isn't obscured," Varner said. "Open cubbies are a big part of the design. Guestrooms also have an inset rug on luxury vinyl tile flooring, which helps with sound in the room and creates a homelike experience."
Construction cost for the new prototype ranges from $50,000 to $55,000 per key, excluding land. The company currently has WoodSpring Suites Signature projects under development in Cranberry (Pittsburgh), Pa. (fourth quarter 2016 opening date), and Saugus (Boston), Mass. (spring 2017 opening date), as well as three projects underway in both the greater Houston and Seattle markets, for a total of eight Signature hotels in the pipeline.
The company is also on track to rebrand the majority of their portfolio of 200 hotels from Value Place to WoodSpring Suites by year’s end 2016.