Marriott International has launched a new extended stay brand under the project name MIDX Studios. The brand will tap into the growing mid range extended stay market. Over 250 new development opportunities are in discussion with owners across Canada and the United States according to Marriott. For ownership groups, the brand aims to have a build cost as low as $14 Million for new properties. This will bring Marriott to 31 brands including extended stay brands; Element by Westin, TownPlace Suites by Marriott, Marriott Executive Apartments and Apartments by Marriott Bonvoy.
A Growing Hotel Segment
Mid range extended stay hotel brands are a fast growing segment among major hotel companies. Hyatt recently launched Hyatt Studios, Hilton launched Project H3 and Wyndham with Echo Suites. As with other mid range extended stay brands affordability will be at the forefront with MIDX Studios. Prices will average around $80 a night. Accommodations will include mobile check-in and room key, pay and go retail as well as onsite laundry facilities. Rooms will consist of either single or double bed suites equipped with kitchens and an onsite gym. Pets are welcome to stay on property with pet friendly facilities incorporated into the properties. Mid range extended stay properties are emerging in the post pandemic market. It will be exciting to see what’s in store for these new brands.
