The first property in Marriott International's new midscale extended-stay brand StudioRes has opened in Fort Myers, Fla., the company announced Monday.
The new-build property, which opened nearly two years to the day from Marriott's initial announcement that it would enter the midscale extended-stay tier, has 124 studio-style rooms, each with a kitchen, stovetop and refrigerator, according to Marriott. The company said it expects daily rates at the property to be about $100.
The hotel company in a statement said it planned to have 40 StudioRes properties open in the United States and Canada by the end of 2027, adding it expected the brand "to become Marriott's most affordable cost-per-key product to develop and build."
Developer Concord Hospitality will operate the Fort Myers property and plans to develop more than 40 StudioRes properties "spanning several dozen submarkets in major U.S. cities," according to Marriott.
StudioRes joins other Marriott extended-stay brands including Residence Inn, Element by Westin, TownePlace Suites and Apartments by Marriott Bonvoy.
Several large hotel chains in recent years have launched or planned new extended-stay hotel brands in an effort to capture additional share of what has proven a relatively resilient sector of the market.
• Hyatt Hotels Corp. in February opened in Tillmans Corner, Ala., its first Hyatt Studios property after announcing the upper-midscale extended-stay brand in 2023.
• Wyndham Hotels & Resorts in July opened the first property under its new Echo economy-tier extended-stay brand in Spartanburg, S.C., after announcing it in 2022.
• Choice Hotels International last week announced it had reached 14 open Everhome Suites properties in the U.S. after the midprice extended-stay brand debuted in 2022. There are 19 more Everhome properties under construction and "more than 60" in the pipeline, according to Choice.
• Hilton Worldwide plans to open its first lower-midscale extended-stay LivSmart Suites in Kokomo, Ind., in October, after announcing the brand in 2023.