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Marriott is launching its 32nd brand, which is a more budget-friendly option that will provide extended-stay guests with a comfortable bed and a mini kitchen, giving us the illusion that we’re adulting by cooking our own meals (even though we secretly rely on takeout most of the time).
On Monday, Marriott International announced its expansion into the North American “affordable midscale” hotel category with a new brand, unofficially named, Project Mid-X Studios. As the largest hotel company globally, Marriott aims to attract guests to this hotel who are looking for extended stays ranging from 7 to 30 days.
Hyatt also introduced its own affordable brand called Hyatt Studios earlier this year, specifically targeting extended stays, and seemingly following a trend, Marriott is taking pointers. The company shared, “The prototype model targets a build cost of $13 million to $14 million, requiring approximately 54,000 square feet of total building area for 124 studios.” The move to expand the extended-stay side of the business makes sense given how popular bleisure and slow travel have become post-pandemic.
Construction on three properties for the new brand will take place this year, and the hotels are expected to open in late 2024 or early 2025, serving as their most affordable option for hotel rooms in the US and Canada. Marriott already offers other brands that cater to long-stay guests, and in November, they announced Apartments by Marriott Bonvoy, targeting the premium and luxury segments.
by your friends at The Daily Navigator
