The Hotel Segment Worthy of Attention
JUNE 2024
I recently had the opportunity to take my teenage daughter on a college visit. Aside from seeing the evolution of higher education since my graduation, I got to experience firsthand the current state of the select-service hotel segment. As a real estate capital adviser and investor, I tend to look at hotels through a different lens than most travelers. From my perspective, the select-service and extended-stay segment of the hospitality business has seen substantial growth and promising financial performance, particularly since the end of the COVID-19 pandemic. Investors who entered the market before the post-COVID-19 resurgence have likely benefited substantially. However, during my stays at various select-service/extended-stay hotels in the southeastern United States, the question I pondered was this: Will the segment’s performance continue?
The college road trip is emblematic of a lot of family leisure travel in the United States today, where families often occupy their time mostly with entertainment and activities outside of the hotel. Though many select-service hotels have amenities such as pools or small gyms, the extensive luxury of full-service hotels isn’t a requirement for the guests’ enjoyment of the hotel. Rather, the lodging serves as a point of departure for local excursions, shopping and sight-seeing.
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