GlobeSt.com recently spoke with Gina-Lynne Smith, president ofValue Place Franchise Services about the extended-stay forecast, aforecast that continues to be cautiously optimistic. Smith'scompany, Value Place, is an economy extended-stay lodging andshort-term residential property brand that features affordablerates. The Value Place brand comes from the management team thatcreated developed lodging brands such as Residence Inn (now ownedby Marriott), Summerfield Suites (Hyatt) and Candlewood Suites(Intercontinental).
GlobeSt.com: How did the extended stay industry fare in2009 and what your forecast for 2010?
Smith:The extended stay industry simply hasn'tseen the declines in occupancy and RevPAR that traditional hotelshave during 2009. I expect that extended stay hotels, particularlythose in the economy segment, will continue to outperformconventional hotels. We are cautiously optimistic for 2010. Webelieve Value Place has proven to be a recession-resistant product.With 164 all new construction properties from coast-to-coast,results vary by property, but since January, average systemoccupancy is up 10 points over the same time last year. We areworking strategically to maintain and further increase thisgrowth.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
