Wyndham Signs 60 New Extended Stay Hotels in North America
New York, NY
Wyndham Signs 60 New Extended Stay Hotels in North America
New York, NY
Skift:
Wyndham Hotels & Resorts said on Tuesday it had signed 60 more hotels for its Echo Suites Extended Stay by Wyndham brand in the U.S. and Canada.
That brings the extended-stay brand’s pipeline to 265 hotels, with about 33,000 rooms. It's the fastest-growing brand in Wyndham's development pipeline.
The growth is remarkable. Wyndham only formally announced the brand last November, and it doesn't expect to have its first Echo Suites hotel open until 2024.
Few other brands introduced in the past few years have gained such rapid traction with developers.
Wyndham partly credits its success to having worked closely with developers when inventing its prototype — obtaining earlier design buy-in than has been customary. The franchisor also has a commercial strategy of signing multi-unit deals with veteran developers, such as MasterBUILT Hotels in Canada.
"From day one, Wyndham made a point of seeking the input of experienced developers and then actioning on their insights," said David Donaldson, president and CEO, MasterBUILT Hotels.
About Sandpiper
Based in Richmond, Va., Sandpiper, LLC is a nationally-focused real-estate investment organization recognized as one of the leading companies specializing in extended stay lodging properties. The company continues to develop its portfolio through ground-up development and selective acquisition of performing and non-performing properties. Sandpiper owns a total of 39 hotels under the Candlewood Suites (IHG), Courtyard (Marriott), ECHO Suites (Wyndham), Premier Suites (Extended Stay America), Residence Inn (Marriott), RiseWell Kitchen Suites (Sandpiper), Suburban Studios (Choice), and WoodSpring Suites (Choice) brands.
Sandpiper Hospitality ("SH"), an affiliated hotel management company, manages the entire Sandpiper portfolio and manages 30+ more hotels for unaffiliated third parties. SH has earned its position as the leading operator in the extended stay hotel segment of hospitality by combining the spirit of genuine, welcoming hospitality with superior financial returns, fueling the growth and prosperity of its various stakeholders – from associates to guests to owners and investors. For more information, visit www.sandpiperhospitality.com.
