An Insight on Extended Hotels
By Korosh Farazad, Founder & Chairman of Farazad Group of Companies and Member of Board for Trinity Hospitality Group
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In a global bad economy during the COVID-19, it was challenging time for all the different hotel businesses. However, one segment that outperforms the rest of the hospitality industry is extended stay hotels. They tend to have bigger rooms containing well-equipped kitchens and are priced for the budgeted guests. They offer long term accommodation for people who need to stay; for a week, a month, six months, multiple years or longer, such as businessmen on extended trips, families on long holidays, and/or people who are seeking more permanent places to stay. This means these hotels can almost count on always being profitable and remaining stable in the market despite unstable conditions of the world economy. Extended stay bounces back despite the pandemic crisis and it has reached a record high in recent years.
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Baird/STR Hotel Stock Index rose 3.2% in April
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HENDERSONVILLE, Tennessee, and MILWAUKEE - The Baird/STR Hotel Stock Index rose 3.2% in April to a level of 5,297. Year to date through the first four months of 2021, the stock index was up 15.8%. Advertisements Hotel stock prices increased in April, but they were relative underperformers on a monthly basis for the third time this year, said Michael Bellisario, senior hotel research analyst and director at Baird. The broader reopening trade has lost some momentum recently as investors continue to rotate into more defensive and value-oriented sectors despite the progress that is being made on the vaccination front and the sequential monthly improvement in hotel fundamentals being realized. The Hotel REITs have outperformed the Hotel Brand stocks each month this year.
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