Extended Stay Hotels Operating in a Slower Demand Environment

After remarkable performance results throughout the pandemic that often bucked national trends, extended-stay performance results are moderating. In the first quarter, demand growth for branded extended-stay hotels slowed to 0.1% for lower-end brands and 1.2% for higher-end brands. Revenue per available room, or RevPAR, declined 0.8% for upper-level brands and 3.3% for the more inexpensive brands.