Drop in for an Extended Stay
NJBIZ, Nov 21, 2005
Industry Report
THEY ARE HOMES away from home and they are slowly finding a place in the plans of cost-conscious corporate travelers. Popularly known as extended-stay hotels, the big names in the field include Extended Stay America, Residence Inn by Marriott, Wellesley Inn & Suites, Candlewood Suites and Embassy Suites.
These facilities are cheaper than regular five- and four-star hotels for the growing ranks of travelers who need services and accommodations designed for business trips that last more than five days.
The Residence Inn by Marriott in Somers Point, which has 120 suites, follows a policy of "the longer one stays, the less one pays," says Evan Quarton, general manager. "For example, the normal rate on a weekday is $139 per night; for five nights it is $129; [it's] $119 for 12 and, say, $99 for 30 nights."
Extended Stay America, operated by HVM of South Carolina, and Residence Inn by Marriott say they largely target corporate customers, government officials and training teams that need lodgings for longer time periods at multiple locations. For example, the Residence Inn in Somers Point was a home to Bank of America officials during the period when their company was digesting Fleet's operations in New Jersey.
Residence Inns and other brands offer studio suites with separate living, dining and sleeping areas, plenty of work space and fully equipped kitchens. They include conveniences such as free voice mail and computer-data ports, as well as leisure facilities including pools and exercise rooms.
While extended-stay hotels are growing their business, at least one local hotelkeeper says they have not muscled into the territory of regular hotels. Bill Andreorio, general manager of the Hyatt Regency Princeton, "They are not a threat to us. They are mainly for relocation-type business residents. They offer opportunities to enhance family life."
However, they are not restricted to just the corporate traveler. Says Quartern, "We have a woman living here since April 2004; she has the money, she doesn't have to pay parking fees, she gets complementary wireless, breakfast and even free grocery shopping."
E-mail to varsha@njbiz.com
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