Choice Hotels International is updating its Suburban Extended Stay Hotel brand with a new name: Suburban Studios.
"When we added Suburban, one of the first extended-stay brands on the market, to our portfolio nearly two decades ago, we did so with the intent of fulfilling an emerging need in the industry for hotel owners and longer-staying guests. Today, the travel landscape has evolved with demand for extended-stay products at an all-time high, and our commitment to innovating new ways to drive value for our franchisees and guests remains," said Patrick Pacious, Choice's president and CEO. "The modernization of Suburban signals that the brand is poised for growth and that Choice is dedicated to expanding its foothold in the extended-stay segment with the best investment opportunity for franchisees and experience for guests."
"Economy extended-stay has always been a developer favorite because of the category's demonstrated resiliency and returns, but the fact remains: There is a significant imbalance between demand and current market supply. So, when our development community asked for another product to capitalize on this industry white space more efficiently, we listened," said David Pepper, chief development officer. "The refreshed Suburban Studios offers an industry-first opportunity for owners to transform existing assets in transient markets into an extended-stay property backed by the segment leader in Choice Hotels, while also providing exactly what guests want during longer stays."
Choice Hotels currently has more than 70 Suburban Extended Stay properties in its portfolio, with plans to open the first Suburban Studios hotel in Chicago later this year. More than 27 Suburban Studio hotels are in the development pipeline.