Wyndham Hotels & Resorts' fastest growing extended-stay brand operating under the working title "Project ECHO" in the development pipeline has surpassed its year-end goal early with 100 hotels signed across the United States.
"An all-new-construction, extended-stay brand developed with leading hotel developers, hits the sweet spot with a design aimed to lower costs-to-build and operate while still capturing the demand for long-term stays. This brand has become Wyndham's fastest growing in the pipeline, already accomplishing our goal of 100 signed by year-end, and we expect to continue adding to that total," said Chip Ohlsson, executive vice president and chief development officer, Wyndham Hotels & Resorts.
Some of the most recent signings for developing new construction Project ECHO hotels include South Bend, Indiana-based Holladay Properties and Miami, Florida-based Gold Coast Premier Properties.
Currently, Holladay Properties has 25 Project ECHO hotels signed in the prime cities across the Midwest, as well as Tennessee, Georgia and Florida. Meanwhile, Gold Coast Premier Properties has signed ten hotels in South Florida and New Jersey.
The purpose-built, 124-room Project ECHO prototype occupies just under two acres of land and has a highly competitive cost per key. Coming in at approximately 50,000 square feet—nearly 74 percent of which is rentable—individual rooms average 300 square feet. The rooms comprise single- and two-queen studio suites with kitchenettes and efficiently-designed public spaces—a lobby, fitness centre and guest laundry—that help limit labour needs.
"We have extensive extended-stay development experience with established brands. Yet, we couldn't pass up the opportunity to be on the ground floor building a brand together with Wyndham," said Veronica Garcia, president and chief operating officer of Gold Coast Premier Properties. "Project ECHO's efficient design paired with access to Wyndham's negotiated discounts with suppliers will help us reduce costs and simplify operations of our hotels while introducing a new product to the extended-stay segment."
Earlier this month, the first Project ECHO property broke ground in Plano, Texas. Additional groundbreakings are scheduled for later this year. Wyndham anticipates opening its first Project ECHO hotels in 2023.
