Marriott International plans to launch a new extended-stay brand within the midscale segment in the U.S. and Canada, the company announced Monday at the 2023 NYU International Hospitality Industry Investment Conference.
Under the working title Project MidX Studios, the new brand would add to Marriott’s 31-brand portfolio by catering to midscale customers “seeking long-term comforts at a moderate price point,” Marriott president and CEO Anthony Capuano said in a statement.
In partnership with North Carolina-based hotel development company Concord Hospitality for the initial projects, the company expects to break ground on three Project MidX Studios properties this year, with “anticipated openings in late 2024 or early 2025,” Concord president and CEO Mark Laport said in a statement.
Additionally, Marriott is in “discussions with owners for more than 250 new development opportunities under this brand,” Marriott CFO and executive VP of business operations Leeny Oberg said in a statement.
The new brand would join Marriott’s roster of extended-stay properties, including Residence Inn, Element by Westin, TownePlace Suites, Marriott Executive Apartments and Apartments by Marriott Bonvoy.
The brand launch follows similar news from Hilton Worldwide, as the company plans to launch a new extended-stay brand—under working title Project H3—in the lower midscale sector next near, announced in May.
[email protected] (Angelique Platas)
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