Dive Brief:
- Marriott International has opened the inaugural hotel for its midscale extended stay StudioRes brand in Fort Myers, Florida, the hotel company announced Monday as the NYU International Hospitality Industry Investment Forum kicked off in New York City.
- The 124-key, all-studios hotel opened more than a year after developers broke ground on the property in January 2024 and almost two years to the day since Marriott first unveiled the concept at NYU’s 2023 conference. The hotel was built in collaboration with developer Concord Hospitality and private equity firm Whitman Peterson.
- The hotel is the first to open in a long line of StudioRes properties in Marriott’s pipeline. The opening comes as Marriott prioritizes growth in the midscale segment, including with a newly launched collection brand.
Dive Insight:
Marriott forayed into the midscale segment in the U.S. and Canada with the launch of StudioRes roughly two years ago. Now, the extended stay hotel’s inaugural opening marks a milestone in Marriott’s growth in the chain scale.
The extended stay brand was designed to “cater to a wide variety of travelers, including those on long-term work trips and assignments, construction projects, relocations, and more,” according to Marriott.
StudioRes Fort Myers offers studio rooms with one or two beds, a designated lounge area and a fully equipped kitchen. The property also has casual workspaces, an outdoor patio and a fitness center.
As extended stay remains a stable category for hotel players during rockier economic times, Marriott anticipates strong growth for StudioRes in the coming years.
Currently, StudioRes has more than 40 properties across the U.S. and Canada anticipated to open by the end of 2027, Marriott detailed. One such property is slated to open in Moses Lake, Washington, in 2026. CEO Anthony Capuano said in November 2023 that Marriott was in talks for StudioRes deals in more than 300 U.S. markets.
Concord Hospitality, specifically, plans to develop more than 40 StudioRes properties, spanning several dozen submarkets in major U.S. cities, according to Marriott.
Since the brand’s launch, Marriott has “been thrilled by the reception among owners and franchisees” for the product, CFO Leeny Oberg said in a Monday statement.
Beyond StudioRes, Marriott has made other recent moves in the midscale segment in the U.S. and Canada, including expanding its conversion-friendly transient midscale brand City Express to the region. The first U.S. City Express property opened in March.
Marriott Global Development Officer for the U.S. and Canada Noah Silverman told Hotel Dive last month that City Express caters to a growing owner demand for transient midscale products.
Additionally, last week, Marriott launched Series by Marriott, a global collection brand targeting the midscale and upscale segments. The new brand will bolster Marriott’s growth globally, bringing “strong, regionally relevant brands and hotels into the Marriott portfolio,” according to the company.
