Windsor Hospitality Group of Los Angeles has opened the $18 million,. 150-suite Embassy Suites Atlanta-Alpharetta, 30 miles north of Downtown in a fast-emerging commercial/residential/entertainment market.
Extended Stay America Inc. of Spartanburg, SC is introducing a 104-room, three-story efficiency studios hotel built at an estimated hard construction cost of $12.5 million in Savannah, GA, 200 miles southeast of Downtown.
Extended Stay's rate structure illustrates how mid-sized hospitality properties survive in one of the hospitality industry's worst occupancy and revenue years. Extended Stay's daily rates begin at $59; weekly rates are $279 to $309.
"The extended-stay lodging market is the fastest growing segment of the hotel industry, and is quickly catching the interest of business professionals, people relocating and those on extended work assignments," Extended Stay's CEO George D. Johnson Jr. says in a prepared statement.
The Embassy Suites Atlanta-Alpharetta, built at an estimated cost of $120,000 per suite, has 3,000 sf of meeting space and a 2,400-sf ballroom. Windsor Hospitality Group is a division of Windsor Capital Group which operates 17 Embassy Suites throughout the United States.
The group claims to produce one of the highest net operating income margins in the Embassy Suites system but its prepared statement offered no financials or a daily room rate range.
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