Meyer Jabara Hotels will host its first Extended-Stay Development Seminar to educate people wanting to build, own or supply hotels in this thriving market segment. The event will be held at. on April 20 at The Fountains at Gateway (pictured above) in Murfreesboro, TN, a suburb of Nashville and home to the company’s new development office.
“If you want to get a deal done in the extended-stay market, this seminar is for you,” said Richard Sprecher, VP, development, Meyer Jabara Hotels. “Already more than 50 people have signed up to discuss the state of the hotel industry and investigate why now is the perfect time to invest in extended-stay hotels. The short answer is that this segment has compelling returns. The reason for that is a lean labor model. Most have eliminated a 24-hour front desk, and housekeeping service is provided once a week or even once a month. With an apartment-like setting, guests cook their own meals and do their own laundry. It’s the best possible scenario as the hotel industry continues to struggle with a labor shortage.”
He continued, “We encourage anyone looking to invest in extended-stay—developers, financiers, construction teams, feasibility experts, FF&E providers, asset managers, etc.—to join us next week,” he said. “Not only will we provide an overview of segment demand, but eight experts will lead a discussion on how to maximize investment returns specifically in middle Tennessee. Attendees will leave with every tool they need to be successful.”
Leading the discussion with Sprecher at the seminar are:
- Greg Burgett, regional VP, development, Extended Stay America
- Mike McGaughey, regional VP, development, Extended Stay America
- Scott McGaughy, president/COO, Greenrise Technologies
- Nicole Robben, VP, business development, Petros Pace
- Michael Hindman of Hindman Architects
- Jason Clouet, VP, Bayview Asset Management
“The world has been tied up in Zoom calls and webinars for the last two years,” Sprecher said. “It’s time to gather face-to-face again and discuss financing options available for new-construction hotels, the advantages of using energy-efficiency financing, methods of construction (from wood frame to modular), the benefits of creating usable green spaces and finding the right management company to operate these hotels. In addition, executives from Extended Stay America will discuss their secret to brand success.”
Meyer Jabara Hotels currently operates 30 hotels in 12 states, of which 17 hotels are fully or partially owned. Its portfolio of hotels includes Marriott (including Residence Inn), Hilton (including Home2Suites), Choice, Hyatt, InterContinental (including Candlewood Suites) and Wyndham brands, as well as several independents. Development projects will soon be underway with Extended Stay America and Choice Hotels’ WoodSpring Suites and Everhome Suites extended-stay brands.
For more on Meyer Jabara Hotels and its president, Justin Jabara, look out for the cover story in the May issue of Hotel Business.