Bethesda-based Marriott International, which hinted about a new brand in development for long-term guests in its first quarter earnings call last month, has now announced some details for what is currently code-named “Project MidX Studios.”
The brand is being developed for travelers, mostly business traveling road warriors, who are planning stays of 20 nights or more. Offering reasonable room rates, the brand also aims to appeal to budget-conscious travelers, who are mixing business travel with vacation time on longer trips.
But guests will have to do their own laundry.
The brand’s rooms include kitchens and separate work and sleep spaces, large closets, pay-as-you-go retail options and nightly rates at around $80, depending on the market. The hotels will also have on-site guest-laundry, gyms and pet-friendly facilities.
Marriott says it has two companies — Concord Hospitality and real estate private equity company Whitman Peterson — on board for the first of the new extended-stay hotels. It did not announce locations but said openings will be in late 2024 or early 2025.
Marriott already operates several extended-stay hotel brands, including Residence Inn, Element by Westin, TownePlace Suites, Marriott Executive Apartments and Apartments by Marriott Bonvoy. The new addition will be Marriott’s 32nd hotel brand.
Marriott follows McLean, Virginia-based Hilton Worldwide in announcing a new, affordable extended-stay brand. Hilton’s, currently called Project H3, will also be designed for travelers staying 20 nights or more with apartment-like amenities including kitchens. It will be Hilton’s 22nd brand.
The extended-stay occupancy rate last year was 74.7%, according to hotel data tracker STR, significantly more than the overall hotel occupancy rate in the U.S. of 62.6% last year.
