Economy extended-stay hotel brand LivAway Suites has broken ground on a new location in New York as part of its plan to open 10 additional properties in 2024.
The new property in Dewitt will reap the benefits of a stimulated local and regional US economy due to two recent national spending bills: the $1.2tn Infrastructure Investment and Jobs Act and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act.
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As a result of this legislation, semiconductor company Micron Technology has announced plans to develop a $100bn semiconductor factory minutes from the new LivAway Suites location. This is estimated to bring 50,000 new jobs to the surrounding community, along with more demand for extended-stay properties.
Onondaga County executive Ryan McMahon commented: “As a growing community, the need for more hotels is greater than ever. Just as important is the diversity in hotel options.
“Thanks to the investment being made by LivAway, Onondaga County will be able to continue offering visitors, business professionals and others the high-quality, budget-friendly options they are seeking.”
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Based in Salt Lake City, Utah, LivAway Suites is built on the concept of “for developers, by developers”. It aims to disrupt the traditional hotel franchise model through transparent pricing and an improved return on investment.
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