Orlando based Wyndham Hotels & Resorts has awarded contracts to develop 50 properties for its brand new economy extended-stay hotel brand, currently known as Project Echo.
Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,000 hotels across nearly 95 countries, has unveiled details about its upcoming economy extended-stay hotel brand. Among them, newly awarded contracts to develop 50 new construction projects with its first two partners: Richmond, Va.-based Sandpiper Hospitality and Dallas-based Gulf Coast Hotel Management. Wyndham Hotels & Resorts has signed agreements with the first two developers of its new economy extended-stay brand, seeding the brand with an initial pipeline of 50 hotels over the next five years.
The purpose-built, 124-room Project ECHO prototype requires just under two acres of land, has a highly competitive cost per key, and features multiple characteristics that intentionally separate it from traditional economy brands.
Coming in at just over 50,000 square-feet—nearly 74% of which is rentable—individual rooms average 300 square-feet and consist of single and two-queen studio suites with in-suite kitchenettes while efficiently-designed public spaces—a lobby, fitness center and guest laundry—help to limit labor needs.
With 50 hotels already in the initial pipeline—25 each from Sandpiper and Gulf Coast over the next five years—Wyndham is now eyeing additional growth opportunities. The brand expects to open its first hotel in 2023 and is actively talking to additional, multi-unit operators with experience in the segment, a key part of the brand's growth strategy.
About Wyndham Hotels & Resorts
Wyndham Hotels & Resorts is the world's largest hotel franchising company by the number of properties, with approximately 9,000 hotels across approximately 95 countries on six continents. Through its network of over 810,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 22 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. Wyndham Hotels & Resorts is also a leading provider of hotel management services. The Company's award-winning Wyndham Rewards loyalty program offers over 92 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit www.wyndhamhotels.com.
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