Marriott International, Inc. will be adding to their extended stay market portfolio, currently being called Project MidX Studios — although it’s officially unnamed. With the launch, Marriott plans to expand their affordable midscale lodging segment.
According to Marriott, the affordable midscale extended stay brand is “intended to deliver reasonably priced modern comfort for guests seeking longer stay accommodations in the U.S. & Canada.”
“Marriott has long believed in having the right accommodations in compelling destinations at the right price point,” said Marriott International President and CEO Anthony Capuano. “Whether our guests are traveling for business, leisure or a mix of both, our portfolio of 31 brands offers something for everyone. As consumers look for new, flexible accommodation solutions, we are thrilled to announce our plans to launch an affordable midscale extended stay offering to meet the needs of guests seeking long-term comforts at a moderate price point.”
Marriott already has a number of extended stay brands, including Residence Inn by Marriott, Element by Westin, TownePlace Suites by Marriott, Marriott Executive Apartments and Apartments by Marriott Bonvoy. Project MidX Studios will be a new brand that will be built by reducing building and operating costs for owners and franchisees.
“Based on everything we’ve seen and heard, our team is excited about Marriott’s entry into the affordable midscale segment, where Concord has been engaged for many years,” said Mark Laport, president and chief executive officer, Concord Hospitality. “In collaboration with Whitman Peterson, we expect to break ground on three Project MidX Studios this year, with anticipated openings in late 2024 or early 2025. Marriott’s track record in extended stay and strong owner value proposition are compelling and driving our interest in growing this brand within our portfolio.”
Photo credit: Marriott