Wyndham Hotels & Resorts is planning to bring it’s newly announced extended stay brand to Europe with the company working on a “localised” version.
The extended stay sector was one of the few hospitality winners during and after the Covid-19 pandemic, achieving the highest performance results of any segment.
On an earnings call earlier this year Wyndham’s CEO Geoff Ballotti said that “extended stay demand has proven to be just absolutely recession and pandemic-proof.”
This resilience is probably what prompted Wyndham to launch a new brand in the space. “Project ECHO” — an acronym for Economy Hotel Opportunity — has been in the works since summer 2021 and already has 50 construction projects in the works.
The main focus will understand be in Wyndham’s US home market, where 60% of its rooms are located, but the plan is to take it overseas.
“We’re going to bring it to Europe eventually and we’re working on a localised version,” Dimitris Manikis, president EMEA, Wyndham Hotels & Resorts, said at an event hosted by Bisnow.
He added: “We are extremely bullish about the extended stay market and economy and budget.”