YOUR BUSINESS AUTHORITY
Springfield, MO
Business travelers can be credited with creating a new type of hotel accommodation across the country. The hospitality industry, always looking for new ways to care for its clients, has come up with a new category of business accommodations, the extended-stay hotel.
When businesspeople need to stay at an out-of-town location for more than the usual one- to five-day stay, they prefer to stay in accommodations that offer more than the customary hotel room. Meeting this demand, extended-stay accommodations have sprung up, and the number of these has increased rapidly since 1977.
The enhanced technology that enables travelers to work anywhere 24 hours a day, coupled with increased outsourcing of jobs, long-term and temporary assignments, and prolonged training programs has suggested a clear trend: Business travelers want an environment that is practical for both relaxing and working
In the forefront of this new trend is the Marriott chain. In this hospitality company, the extended-stay product has developed at a faster pace than any other company in the hotel industry and they have branched off into more than simply all-suite hotels.
Marriott has developed three different levels, the best-known is Residence Inns. Another Marriott brand is TownPlace suites and a third is ExecuStay. Although this may sound like a commercial for Marriott, we have used this brand as an example because of its preeminence in the field.
Residence Inn is the oldest and largest operator of extended-stay hotels with 309 properties in the United States, Canada and Mexico. This brand is said to have accidentally pioneered the concept in 1974 by providing the business customer what they wanted but didn't know they needed.
Business demand has continued to skyrocket for Residence Inns, which feature studio and one- and two-bedroom suites that are as much as 500 percent larger than traditional hotel rooms with fully equipped kitchens and ample workspace. Two-line phones, desks and voicemail round out the business amenities.
Since the average length of stay at these properties is 14 nights, compared with 2.6 nights for a typical business traveler, each property also offers a breakfast buffet, fitness room, grocery shopping service and, at most locations, a pool. Marriott plans to have 450 Residence Inns properties by 2003.
TownPlace Suites, Marriott's entry into the moderately priced extended-stay category, was launched in 1977, and there are now 36 TownPlace prop-erties.
TownPlace gave Marriott the opportunity to enter a market to serve those clients who either couldn't get into a Residence Inn because of occupancies, or wanted something even more affordable.
TownPlace's goal is to attract younger, price-sensitive business travelers who need space to work during their average 10- to 18-day stay. Built in a townhouse-like setting with two buildings separated by a "Main Street" walkway, pool area and parking lots, the accommodations are geared toward do-it-yourselfers rather than those seeking full service.
Whereas Residence Inns rates range from $90 to $120 per night, TownPlace Suites range from $60 to $75 per night. In TownPlace Suites there are no on-site restaurants or bars, although delivery service can be arranged. Twice-weekly housekeeping service is also available. Each TownPlace Suite also has a pool, small exercise room and a self-service laundry room.
In March of this year, Marriott acquired ExecuStay, a leading provider of leased corporate apartments, and renamed it ExecuStay by Marriott. There are more than 6,000 ExecuStay units in four states.
ExecuStay can provide a furnished, corporate apartment within 24 hours' notice. It is an ideal choice for clients who are suddenly relocated or sent on a temporary project and would prefer a home-away-from-home setting. A one-month lease is required, and rates per month average $2,200.
Each of these levels of properties offer the business traveler the comfort, convenience and space desired with the amenities necessary to also serve as an office. It is apparent that this is Marriott's goal for all of its extended-stay categories. Competition among companies for a piece of this growing market is fierce, but for the moment, Marriott leads the field.
If you're going on a long assignment or meeting, you might consider trying an extended-stay hotel. Your travel agent can determine which level of extended-stay accommodations will serve you best and book them for you, even on short notice, in most cases.
(Linda and Dr. Don Overend are co-owners of Ozark World Travel, a full-service travel agency serving the Springfield area since 1976.)
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