Brand #20 Coming soon: LivSmart Studios by Hilton
Apr 26, 2023, 11:47 am
#1
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Brand #20 Coming soon: LivSmart Studios by Hilton
Another day, another brand: this time, an extended-stay entrant positioned below Home2 consisting of 'cost-efficient' [in other words: formulaic personality-free] new builds on the lower end of midscale. Appears to be Hilton's response to Hyatt Studios and TownePlace Suites; we can't seem to get a proper competitor to EDITION/W/Andaz, but clearly the real money is on the side of highways rather than in city centers.
If this comes to fruition, we'll hear more about this in the next month or two. FYI: pulled this from LinkedIn.
khabah
If this comes to fruition, we'll hear more about this in the next month or two. FYI: pulled this from LinkedIn.
khabah
Apr 26, 2023, 12:32 pm
#2
Join Date: Feb 2013
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Posts: 7,769
Not surprising. Everything I've read says that there is huge anticipated demand in the extended-stay space due to all of the major capital projects associated with chips act, infrastructure act, repatriation of manufacturing, etc. Contractors and skilled tradespeople needing to stay in specific, often exurban or remote, places for a long time. Obviously the question is how quickly the hoteliers can stand up the properties in time to catch this wave.
Apr 26, 2023, 12:50 pm
#3
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Not really a rumor when the CEO announces it himself
Its amazing how the cost of financing, labor, construction, etc is really squeezing development on the higher end.
I agree that Hilton is underrrepresented in the lifestyle segment, but Marriott has been at Edition for 10 years and just has 15 hotels. It seems very hard to do
Its amazing how the cost of financing, labor, construction, etc is really squeezing development on the higher end.
I agree that Hilton is underrrepresented in the lifestyle segment, but Marriott has been at Edition for 10 years and just has 15 hotels. It seems very hard to do
Apr 26, 2023, 3:46 pm
#4
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this was exactly what I was hoping to see in this post. Its Still so surprising with how well these brands do and the blatant gap Hilton hasnt done anything in this category after so long. Still room for improvement in the luxury space. Surprised LXR has so few properties after so long, and it looks like most of them could be Curios anyways judging from reviews and the one (oceana) I stayed at.
Apr 26, 2023, 3:53 pm
#5
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And not just the luxury sector- sadly the US development pipeline for all the big chains is mostly full of select service and below properties these days. It seems like a big deal to just see a regular new build Hilton or Hyatt or Marriott open these days.
Apr 26, 2023, 4:11 pm
#6
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New build is a big deal for me as it keeps the conversions from BW and Wyndham away.
if they can pull off 250 sf with a good queen size bed, a full size refrigerator, and a microwave and keep the prices under $100/night after tax, that is my market for driving trips.
if they can pull off 250 sf with a good queen size bed, a full size refrigerator, and a microwave and keep the prices under $100/night after tax, that is my market for driving trips.
Apr 26, 2023, 4:14 pm
#8
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Apr 27, 2023, 1:53 am
#10
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Apr 27, 2023, 4:45 am
#11
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Home 2 - "Upper Midscale" Extended Stay (competitor: Townplace Suites, Hyatt Studio?)
This new brand - "Midscale" Extended Stay (competitor: ?)
Apr 27, 2023, 6:38 am
#12
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Not really a rumor when the CEO announces it himself
Its amazing how the cost of financing, labor, construction, etc is really squeezing development on the higher end.
I agree that Hilton is underrrepresented in the lifestyle segment, but Marriott has been at Edition for 10 years and just has 15 hotels. It seems very hard to do
Its amazing how the cost of financing, labor, construction, etc is really squeezing development on the higher end.
I agree that Hilton is underrrepresented in the lifestyle segment, but Marriott has been at Edition for 10 years and just has 15 hotels. It seems very hard to do
Apr 27, 2023, 7:03 am
#13
Join Date: Feb 2013
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Posts: 7,769
If you can come up with a business case that will convince the folks who actually put skin in the game (REITs, etc.) to go all-in on big construction projects in the current economic climate and with the current cost of capital, by all means go for it.
I'm kind of chuckling at all of the table-pounding posts above about "Oh, we need more luxury properties, this property, that property". The developers and management companies have access to capital. They have financial analysts and planners. They have strategy folks. All of these people are pretty smart and, more than anything, they really, really like making money. So if they're not jumping at something, it's probably for a good reason, regardless of whether it suits the whims of a few people on the Internet.
I'm kind of chuckling at all of the table-pounding posts above about "Oh, we need more luxury properties, this property, that property". The developers and management companies have access to capital. They have financial analysts and planners. They have strategy folks. All of these people are pretty smart and, more than anything, they really, really like making money. So if they're not jumping at something, it's probably for a good reason, regardless of whether it suits the whims of a few people on the Internet.
Apr 27, 2023, 7:39 am
#14
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If you can come up with a business case that will convince the folks who actually put skin in the game (REITs, etc.) to go all-in on big construction projects in the current economic climate and with the current cost of capital, by all means go for it.
I'm kind of chuckling at all of the table-pounding posts above about "Oh, we need more luxury properties, this property, that property". The developers and management companies have access to capital. They have financial analysts and planners. They have strategy folks. All of these people are pretty smart and, more than anything, they really, really like making money. So if they're not jumping at something, it's probably for a good reason, regardless of whether it suits the whims of a few people on the Internet.
I'm kind of chuckling at all of the table-pounding posts above about "Oh, we need more luxury properties, this property, that property". The developers and management companies have access to capital. They have financial analysts and planners. They have strategy folks. All of these people are pretty smart and, more than anything, they really, really like making money. So if they're not jumping at something, it's probably for a good reason, regardless of whether it suits the whims of a few people on the Internet.
Apr 27, 2023, 7:48 am
#15
Join Date: Feb 2013
Location: DCA
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Eh, I don't think anyone is "table pounding" - all I'm saying is that in my mind as someone who stays at full-service and luxury, I'll continue to prioritize Bonvoy 95% of the time as they have the full service and luxury portfolio across large and mid-size cities I'm looking for.