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296 | Flexible Business Model: Apartment-hotels are an emerging trend in an industry in crisis
Like the extended-stay hotel sector, the short-term rental business has held its own since the coronavirus pandemic struck the U.S. in mid-March.
Longer stays have buoyed the short-term rental sector, which experienced an average 5 percent decline in demand from April 2019 to April 2020 while transient hotel demand dropped by an average 29 percent in the same time period, according to a joint report by The Highland Group and All The Rooms.
Such demand is also supporting apartment-hotels. The category includes serviced apartments; lodging accommodations with a mix of hotel rooms and serviced apartments; and privately owned condominiums that are part of a hotel complex’s short-term rental inventory.
In this episode, Lodging Leaders explores the emerging trend of apartment-hotels and how COVID-19 has given the sector a new shine as travelers seek safety and their own place to live, work and play, whether it’s for a few days or a few months. We feature Brian Quinn, chief development officer at Domio, a technology-driven apartment-hotel brand; Mimi Oliver, CEO at WaterWalk International, a serviced-apartment franchise; and Larry Spelts, president of lodging at The Indigo Road Hospitality Group, which is involved in a condominium-hotel development project in Naples, Florida.
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By Jon Albano and Judy Maxwell
4.8
7474 ratings
Like the extended-stay hotel sector, the short-term rental business has held its own since the coronavirus pandemic struck the U.S. in mid-March.
Longer stays have buoyed the short-term rental sector, which experienced an average 5 percent decline in demand from April 2019 to April 2020 while transient hotel demand dropped by an average 29 percent in the same time period, according to a joint report by The Highland Group and All The Rooms.
Such demand is also supporting apartment-hotels. The category includes serviced apartments; lodging accommodations with a mix of hotel rooms and serviced apartments; and privately owned condominiums that are part of a hotel complex’s short-term rental inventory.
In this episode, Lodging Leaders explores the emerging trend of apartment-hotels and how COVID-19 has given the sector a new shine as travelers seek safety and their own place to live, work and play, whether it’s for a few days or a few months. We feature Brian Quinn, chief development officer at Domio, a technology-driven apartment-hotel brand; Mimi Oliver, CEO at WaterWalk International, a serviced-apartment franchise; and Larry Spelts, president of lodging at The Indigo Road Hospitality Group, which is involved in a condominium-hotel development project in Naples, Florida.