PHOENIX A Lodging Conference 2000 panel here examining the success so far enjoyed by extended-stay properties did little to allay fears held by some in the industry that the model could conceivably cannibalize entire segments of the lodging market.
Indeed, James Roos of Candlewood Hotel Co. as one of the featured experts in this field observed that it is already creating [a degree of]obsolescence among limited-service brands. And there was little refuting of this observation by his session counterparts, which included James Anhut of Bass Hotels & Resorts, Jim Holthouser of Homewood Suites By Hilton, Greg Plank of Suburban Lodges of America, and Timothy Sheldon of Marriott International.
Roos perspective was reinforced by Plank, who added extended stay has succeeded in moving business away from other areas [of the lodging market].
As session moderator and Publisher of Hotel Journal Stacy Horowitz pointd out and the panelists affirmed just 7% of the hotel-consumer population has sampled the extended-stay product. Accordingly, it would seem there is still considerable opportunity open to this lodging sector. (9/14/00) Michael Billig