1、Research United States|January 2024U.S.Select-Service and Extended-Stay Hotel Trends and Outlook 2024The evolution of select-service and extended-stay hotels has driven the sectors investment appeal to new heights,fueled by a growing consumer demand base and increased geographical 265513379855010020
2、0300400500600700800900$0$5$10$15$20$252008-20112012-20152016-20192020-YTD Q3 2023Total number of first-time buyersTotal investment volume of first-time buyers(in billions)Total first-time buyer investment volumeTotal number of first-time buyersU.S.Select-Service and Extended-Stay Hotel Trends and Ou
3、tlook 2024U.S.Select-Service and Extended-Stay Hotel Trends and Outlook 202423In the early 2000s,select-service and extended-stay hotels operated as more clearly defined sectors,differentiated by their target market and length of stays.During this period,individual owners dominated the market with o
4、nly a handful of prominent brands available.However,in recent years,the distinctions between select-service and extended-stay hotels have become increasingly blurred.Select-service hotels now incorporate extended-stay amenities including in-room kitchenettes and flexible workspaces,while extended-st
5、ay hotels have added business centers with more of its brands incorporating 24/7 self-service marketplaces as seen in Everhome Suites.Today,the select-service and extended-stay hotel sectors have converged into one,boasting more than 200 brands(existing and in the pipeline)and gaining notable market
6、 share by expanding into primary,urban,and resort locations.As a result of this evolution and growth,investor interest has accelerated to its highest level ever.In the period between 2020 and Q3 2023,the number of first-time buyers*of select-service and extended-stay hotels hit a record-high at 855