IHG Hotels & Resorts has reported a surge in the extended stay sector across Canada.
The company has achieved 3 openings in 2023 and anticipates 16 more in the pipeline.
The strategic move reflects the heightened demand for cost-effective, long-term accommodation among both business and leisure travellers.
Strategic portfolio expansion
In response to this rising popularity, IHG is strategically expanding its portfolio within the Suites Collection, featuring brands such as Candlewood Suites and Staybridge Suites.
Such extended-stay hotels aim to provide guests with a comprehensive experience, ensuring they have all the essentials for living, working and relaxing during extended stays.
Recent property openings
IHG’s recent extended stay openings showcase the diverse offerings within this segment:
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Candlewood Suites Collingwood, Ontario: this 51-room property in Collingwood caters to guests with full kitchens, fifty-inch flat-screen TVs, onsite housekeeping, and a 24-hour “Candlewood cupboard” for essential food items and snacks.
Staybridge Suites Port Elgin, Ontario: set on Lake Huron, this pet-friendly property offers apartment-style suites, an indoor pool, a 24-hour fitness centre, an outdoor patio with a fire pit and complimentary daily breakfast. Guests also enjoy evening receptions with food and drinks.
Staybridge Suites Dawson Creek, British Columbia: this property offers river views and convenient access to local activities. Amenities include a daily breakfast buffet, complimentary happy hour experiences, onsite laundry facilities, a pool, a hot tub and a spacious gym.
Developer appeal and future outlook
Jonathan Lund, regional vice-president of operations for company-managed premium hotels and head of Canada, IHG Hotels & Resorts, emphasised the growing attractiveness of extended stay hotels to developers in a statement:
“Extended stay hotels not only are gaining traction among travellers, but also are becoming more attractive to developers due to their lower operational costs and high operational margins. The hotels in our Suites Collection present an exciting opportunity for developers, who can re-imagine the hotel business model and diversify the suites experience to align with the needs of Canadian travellers.”
IHG’s success in this segment presents a promising opportunity for developers, with a robust pipeline of extended-stay hotels across varying stages of development in Aurora, Burlington, Chatham and St Catharines in the province of Ontario, Trois-Rivières in Quebec, and St John’s in Newfoundland and Labrador.