Marriott, Radisson Build Long-Stay Apartments

Budapest - International hotel chains are targeting the growing market of long-stay business travelers by building luxury apartments and brushing up their corporate services.

Marriott International will open 108 apartments in Budapest this summer, and Radisson SAS will enter the market with 157 units in Abu Dhabi later this month. Both companies hope to develop the concept further.

Hoteliers say increasing numbers of corporate clients are spending a month or more in developing markets in eastern Europe and Asia. With extended-stay properties, clients have the advantage of a secluded private apartment combined with the facilities of a neighboring hotel.

The new Marriott Executive Residences are aimed at travelers who often have difficulty getting information about apartments on the other side of the world, said Ed Fuller, Marriott International Lodging executive vice president and managing director.

"When you are starting what may be the career assignment of a lifetime, the last thing you want to be thinking about are details like personal housing," Fuller said. "Travelers can expect high-quality accommodation, and reservations will be easy to make through any of our reservations offices or on-site."

The apartments will feature several bedrooms, a kitchen and a study. Each development will be built next to an existing Marriott hotel, where residents will be able to use facilities such as restaurants. Prices will be comparable at five-star rates with a discount for those staying more than 30 nights.

Marriott hopes to open 25 Residences over the next five years.

Radisson SAS is targeting similar markets. "There is a growing demand for long stay in developing markets," said Ferederik Korallus, vice president of sales.