Wyndham Hotels & Resorts Achieves Major Milestone with 100 Signed Hotels for its New, Extended-Stay Brand
The company’s fastest growing brand in the development pipeline exceeds year-end goal early
PARSIPPANY, N.J. – Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,000 hotels across 95+ countries, announces today that its new, extended-stay brand operating under the working title “Project ECHO” has achieved 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.
Among the most recent signings for developing new construction Project ECHO hotels are South Bend, Ind.-based Holladay Properties and Miami, Fla.-based Gold Coast Premier Properties. Holladay Properties have 25 Project ECHO hotels signed in the key cities across the Midwest as well as Nashville, Tenn.; Savannah, Ga; and Jacksonville, Fla., and Gold Coast Premier Properties has 10 hotels signed in South Florida and New Jersey.
The purpose-built, 124-room Project ECHO prototype requires 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 consist of single- and two-queen studio suites with kitchenettes as well as efficiently-designed public spaces—a lobby, fitness center and guest laundry—that help to limit labor 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, 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 hotel broke ground in Plano, Tex. and additional groundbreaks are scheduled for this fall. Wyndham expects to open its first Project ECHO hotels in 2023. For more information, including development opportunities, visit www.projectecho.wyndhamhotels.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 9,200 hotels across over 95 countries on six continents. Through its network of approximately 872,000 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 over 106 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.
The Company may use its website as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Disclosures of this nature will be included on the Company's website in the Investors section, which can currently be accessed at www.investor.wyndhamhotels.com. Accordingly, investors should monitor this section of the Company's website in addition to following the Company's press releases, filings submitted with the Securities and Exchange Commission and any public conference calls or webcasts.
About Wyndham Rewards
Named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world's most generous rewards program with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide.
Designed for the everyday traveller, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide range of rewards, including free nights at any of the approximately 9,100 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has over 103 million enrolled members globally. Join for free today at www.wyndhamrewards.com. You've earned this. ®
