Mandeep Singh joins Wyndham to oversee the future development and successful rollout of ECHO Suites as openings follow in Texas and Virginia in the coming months
SPARTANBURG, S.C. (July 11, 2024) – Construction workers hitting the road for month-long projects, traveling nurses visiting a new city for extended periods and digital nomads taking advantage of today’s work-from-anywhere policies will now have a new home-away-from-home with ECHO Suites Extended StaySM by Wyndham, which celebrated the grand opening of its first location, ECHO Suites Spartanburg in South Carolina.
The opening marks a major milestone for the brand, which has grown its development pipeline to nearly 270 hotels and over 33,000 rooms across the U.S. and Canada. Timed amidst an influx of infrastructure projects expected across the country over the next decade, additional ECHO Suites are slated to open in Texas and Virginia this year.
“Spartanburg, like many other cities around the country, is booming with projects that require long-term, comfortable and affordable stays. ECHO Suites is the answer with a well-designed prototype created with the operator in mind. Plus, when you add in the collaboration with the world’s largest hotel franchisor, it’s a perfect match.”
– Philip Cox, ECHO Suites Spartanburg Owner
An Efficient Build for Today’s Everyday Traveler The arrival of ECHO Suites coincides with historic infrastructure investments in the U.S., including $1.2 trillion in approved funding as part of the 2021 Infrastructure and Jobs Act, the largest in our nation’s history. This is coupled with $280 billion as part of the CHIPS and Science Act of 2022, driving construction of new chip manufacturing plants across the U.S.
Together, these projects are creating a tailwind for Wyndham and the everyday business traveler, particularly construction and other trade workers, many of whom are in need of long-term accommodations as they travel to job sites across the country. The work is expected to bring a $3.3 billion opportunity in additional room revenue to Wyndham franchisees over the multi-year period of spend.
The purpose-built, all new-construction, 124-room ECHO Suites prototype requires under two acres of land and has a highly competitive cost per key. Coming in at approximately 50,000 square-feet, the prototype is designed to offer 79% of revenue generating square footage. Rooms consist of single- and two-queen studio suites with kitchens as well as efficiently-designed public spaces—a lobby, fitness center and 24/7 guest laundry—that are designed to help limit labor needs.
Continued Investment in Extended-Stay Hotels As part of its ongoing commitment to maintaining a leading presence in the white-hot extended-stay segment, Wyndham is also introducing Mandeep Singh as vice president, Extended Stay Operations. Mandeep brings over 20 years of global experience in extended-stay hotels, corporate housing, serviced apartments and multi-family properties. In this new role, Mandeep will oversee Wyndham’s growing portfolio of extended-stay brands with a focus on ECHO Suites and the new Waterwalk Extended Staysm by Wyndham brand.
“There’s enormous potential in the extended-stay segment, and the opening of our first ECHO Suites in Spartanburg is an exciting example of the brand delivering on that opportunity to our owners. With the addition of Mandeep Singh, we’re reinforcing our commitment to our Owner First philosophy as we continue to grow ECHO Suites to meet the needs of today’s guests.”
– Krishna Paliwal, President, Hawthorn Extended Stay by Wyndham and Head of Architecture, Design and Construction, Wyndham Hotels & Resorts
In addition to the opening of the first ECHO Suites in Spartanburg, the brand is on track to have 75 hotels open or under construction by the end of 2026 and 300 open hotels by 2032. For more information on ECHO Suites Extended Stay by Wyndham, including development opportunities, visit www.wyndhamdevelopment.com.
Additional photos associated with the above release are available here.
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About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of over 876,000 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 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 108 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.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to Wyndham’s current views and expectations with respect to expected hotel openings and revenue opportunities. Forward-looking statements are any statements other than statements of historical fact, including those that convey management’s expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “predict,” “intend,” “goal,” “future,” “forward,” “remain,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; global or regional health crises or pandemics (such as the COVID-19 pandemic) including the resulting impact on Wyndham’s business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham’s relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and between Israel and Hamas, respectively; Wyndham’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham’s ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law.
New multi-unit deals with established developers expand ECHO Suites’ presence in Alabama, Iowa, Nebraska and South Dakota while launching the brand in Canada
PARSIPPANY, N.J. (July 25, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels across more than 95 countries, today announced 60 new hotels for its rapidly expanding ECHO SuitesSM Extended Stay by Wyndham brand, including what will be the brand’s first hotels in Canada.
Continuing Wyndham’s long-term strategy of signing multi-unit deals with established and experienced developers—one of the latest being MasterBUILT Hotels, which to-date has developed more than two dozen Microtel by Wyndham® hotels across Canada—the additions grow the brand’s global pipeline to 265 hotels and approximately 33,000 rooms.
“Since announcing ECHO Suites last year, we’ve seen unprecedented interest from among the industry’s most-successful extended stay developers, helping make ECHO the fastest-growing brand launch of 2022,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts. “Adding MasterBUILT—one of Canada’s premier hotel development companies—to that growing list speaks to the quality of the ECHO prototype and its highly efficient, ROI-driven design, which offers among the most rentable square-footage in the industry.”
Canadian Success Story One of Canada’s fastest growing hotel development and investment companies, MasterBUILT Hotels was founded in 2011 and has tremendous expertise in site evaluation, project design and project management—having constructed over two dozen Microtel by Wyndham hotels spanning all 10 provinces, with additional hotels currently under development.
“The success Wyndham is seeing with ECHO is not by chance—it’s a testament to the care that was put into designing the brand,” said David Donaldson, president and CEO, MasterBUILT Hotels. “From day one, Wyndham made a point of seeking the input of experienced developers and then actioning on their insights. The result is a brand that resonates as strongly with hotel developers as it will with guests. While other brands have since tried to tap into and mirror ECHO Suites’ success—Wyndham, with its unmatched scale, owner-first approach and industry-leading support—continues to lead the pack.”
Unprecedented Growth With the addition of MasterBUILT Hotels, ECHO Suites Extended Stay by Wyndham now has a pipeline of 265 hotels across the U.S. and Canada, making it one of the largest of any extended stay hotel brand. Multiple projects have already broken ground and are in various stages of construction across Virginia, Texas and South Carolina, with over a dozen more slated to break ground in the months ahead. The Company expects to have 100 hotels open over five years, with the brand’s first locations beginning to make a meaningful contribution to Wyndham’s overall portfolio in 2024.
The purpose-built, all new-construction, 124-room ECHO Suites prototype requires under two acres of land and has a highly competitive cost per key. Coming in at approximately 50,000 square-feet, individual rooms average 300 square-feet. The rooms consist of single- and two-queen studio suites with kitchens as well as efficiently-designed public spaces—a lobby, fitness center and 24/7 guest laundry—that help to limit labor needs.
For more information on ECHO Suites Extended Stay by Wyndham, including development opportunities, visit www.wyndhamdevelopment.com.
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About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 845,000 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 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers approximately 101 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.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’s current views and expectations related to rooms growth, development, consumer demand trends, technology offerings and programs. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the continuation or worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees and property owners, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees and property owners; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; risks related to restructuring or strategic initiatives; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
Industry's fastest-growing brand launch adds new institutional developers
PARSIPPANY, N.J., (March 23, 2023) – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, today announced the continued expansion of its innovative ECHO Suites Extended StaySM by Wyndham brand, which in just one year, now has more than 200 hotels in its development pipeline.
Rapidly outpacing initial growth expectations, the developer-driven brand caters to the white-hot extended-stay market, which continues to outperform all other industry segments. Late last year, the brand broke ground on its first three hotels and nearly two dozen more ground breaks are expected for this year. The first ECHO Suites hotel is on track to open by the end of this year with additional hotels fast following in 2024.
“By virtually every metric, ECHO Suites is a phenomenal success, becoming not only the fastest-growing brand in our industry but the largest brand launch in the history of Wyndham,” said Chip Ohlsson, chief development officer, Wyndham Hotels & Resorts. “Its rapid growth is a testament to the power that comes with the scale and resources of the world’s largest hotel franchising company and what can happen when brands take the time to truly engage and understand the needs of the development community.”
Infrastructure Tailwinds The arrival of ECHO Suites coincides with historic infrastructure investments in the U.S., including $1.2 trillion in approved funding as part of the 2021 Infrastructure and Jobs Act, the largest in our nation’s history. Concentrated on repairing the nation’s major roads and highways, bridges, airports and rail system, among other investments, these projects are creating a tailwind for Wyndham and the everyday business traveler, particularly construction and other trade workers, many of whom will be in need of long-term accommodations as they travel to job sites across the country. Even in the Act’s infancy, Wyndham and its brands are already seeing a lift as a result of investments made to grow its share, with general infrastructure-related revenues up more than 20% in Q4 2022, the seventh-consecutive quarter of double-digit growth.
Compounding the opportunities created by the Infrastructure and Jobs Act is the $280 billion CHIPS and Science Act of 2022, of which over $50 billion is for American semiconductor research, development and manufacturing, which is driving construction of new chip manufacturing plants across the U.S. Since the Act was first signed, more than 22 plants have been announced in states including Arizona, Texas, Ohio and Indiana. Collectively, between the two pieces of legislation, Wyndham believes there is a long-term opportunity for franchisees to realize $3.3 billion in additional room revenue, generating more than $150 million in incremental royalties for the Company over the multi-year period of spend.
Added Ohlsson, “The investments we’re seeing in infrastructure represent an incredible opportunity poised to pay dividends for select-service and extended-stay hoteliers for years to come. It’s truly one of the most exciting times to be a part of our industry, Wyndham and ECHO Suites.”
Modern, Efficient, ROI-Focused Design ECHO Suites was crafted with the help of development council consisting of some of the largest and most experienced owners and operators currently in the extended-stay segment. The council’s insights were paired with the experience and expertise of Wyndham’s in-house design and construction team, which spearheaded the creation of La Quinta by Wyndham’s highly successful Del Sol prototype, Microtel by Wyndham’s Moda prototype, Hawthorn Suites by Wyndham’s Haven prototype and Wyndham Garden’s Verde prototype.
At a time when rising construction costs are driving the need for ultra-efficiency, Wyndham’s prototypes prioritize owner return on investment with an emphasis on value engineering and streamlined operations, helping optimize operating margins on a recurring basis. That attention to owner ROI is a key part of what attracted Dennis Wong, co-founder of SPI Holdings, and his business partner, Richard Squires of Lennox Capital, to recently sign a deal with Wyndham to develop multiple ECHO Suites hotels, focusing on markets like San Diego, Las Vegas and Seattle, among others.
“Extended-stay is the hot segment within hospitality right now and ECHO Suites Extended Stay by Wyndham is undoubtedly the hot brand within that segment,” said Wong. “What differentiates Wyndham is their owner-first approach, a commitment to ROI-driven design and best-in-class technology, marketing and distribution. As developers—it’s everything we’re looking for.”
The purpose-built, all new-construction, 124-room ECHO Suites prototype requires 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 consist of single- and two-queen studio suites with kitchens as well as efficiently-designed public spaces—a lobby, fitness center and 24/7 guest laundry—that help to limit labor needs.
For more information on ECHO Suites Extended Stay by Wyndham, including development opportunities, visit www.wyndhamdevelopment.com.
About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world’s largest hotel franchising company by the number of properties, with approximately 9,100 hotels across over 95 countries on six continents. Through its network of approximately 843,000 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 24 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company’s award-winning Wyndham Rewards loyalty program offers more than 100 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visitwww.wyndhamhotels.com.
Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the federal securities laws, including statements related to the Company’s current views and expectations related to rooms growth, development, consumer demand trends, technology offerings and programs. Forward-looking statements include those that convey management’s expectations as to the future based on plans, estimates and projections at the time the Company makes the statements and may be identified by words such as “will,” “expect,” “believe,” “plan,” “anticipate,” “intend,” “goal,” “future,” “outlook,” “guidance,” “target,” “objective,” “estimate,” “projection” and similar words or expressions, including the negative version of such words and expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the continuation or worsening of the effects from the coronavirus pandemic (“COVID-19”); COVID-19’s scope, duration, resurgence and impact on the Company’s business operations, financial results, cash flows and liquidity, as well as the impact on the Company’s franchisees and property owners, guests and team members, the hospitality industry and overall demand for and restrictions on travel; the Company’s continued performance during the recovery from COVID-19 and any resurgence or mutations of the virus; concerns with or threats of other pandemics, contagious diseases or health epidemics, including the effects of COVID-19; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising businesses; the Company’s relationships with franchisees and property owners; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflict between Russia and Ukraine; risks related to restructuring or strategic initiatives; the Company’s ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to the Company’s ability to obtain financing and the terms of such financing, including access to liquidity and capital; and the Company’s ability to make or pay, plans for, and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise.
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