Affordable $80 Per Night Extended Stay Lodging - Marriott Plans New Offering In US & Canada
Portfolio Pulse from Shivani Kumaresan
Marriott International plans to expand in the affordable midscale lodging segment with a new extended stay brand, Project MidX Studios, targeting the US and Canada. The brand aims to offer modern comfort for guests seeking longer stays at around $80 per night. Marriott reported a Q1 revenue growth of 34% YoY to $5.62 billion.
June 05, 2023 | 12:55 pm
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Marriott's new affordable extended stay brand, Project MidX Studios, targets the US and Canada, offering modern comfort at $80 per night. Q1 revenue grew 34% YoY to $5.62 billion.
Marriott's expansion into the affordable midscale lodging segment with Project MidX Studios is likely to attract a growing customer base seeking longer stays at reasonable prices. This, combined with their strong Q1 revenue growth, indicates a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100