[Danbury, Conn., April 13, 2022] — Next week Meyer Jabara Hotels will host its first Extended Stay Development Seminar to educate people wanting to build, own or supply hotels in this thriving market segment. The event will be held at 1:00 p.m. on Wednesday, April 20th, at The Fountains at Gateway, Plaza Room, 1500 Medical Center Parkway, in Murfreesboro, Tenn.
“If you want to get a deal done in the extended-stay market, this seminar is for you,” said Richard Sprecher, Meyer Jabara Hotels VP of Development. “Already more than 50 people have signed up to discuss the state of the hotel industry and investigate why NOW is the perfect time to invest in extended-stay hotels. The short answer is that this segment has compelling returns. The reason for that is a lean labor model. Most have eliminated a 24-hour front desk and housekeeping service is provided once a week or even once a month. With an apartment-like setting, guests cook their own meals and do their own laundry. It’s the best possible scenario as the hotel industry continues to struggle with a labor shortage.
“We encourage anyone looking to invest in extended stay — developers, financiers, construction teams, feasibility experts, FF&E providers, asset managers etc. — to join us in Nashville next week,” he said. “Not only will we provide an overview of segment demand, but eight experts will lead a discussion on how to maximize investment returns specifically in middle Tennessee. Attendees will leave with every tool they need to be successful.”
Leading the discussion at the Extended Stay Development Seminar are:
- Richard Sprecher, VP of Development, Meyer Jabara Hotels
- Greg Burgett, Regional Vice President of Development, Extended Stay America
- Mike McGaughey, Regional Vice President of Development, Extended Stay America
- Scott McGaughy, President & COO, Greenrise Technologies
- Nicole Robben, Vice President of Business Development, Petros Pace
- Michael Hindman, AIA of Hindman Architects
- Jason Clouet, Vice President, Bayview Asset Management
“The world has been tied up in Zoom calls and Webinars for the last two years,” Sprecher said. “It’s time to gather face-to-face again and discuss financing options available for new construction hotels … the advantages of using energy-efficiency financing … methods of construction (from wood frame to modular) … benefits of creating usable green spaces … and finding the right management company to operate these hotels. In addition, executives from Extended Stay America (representing 650+ hotels in the U.S.) will discuss their secret to brand success.”
Meyer Jabara Hotels recently opened a new development office on the 2nd floor of The Fountains at Gateway. The 47-year-old hotel management and ownership company currently operates 30 hotels in 12 states, of which 17 hotels are fully or partially owned. Their portfolio of hotels includes Marriott (including Residence Inn), Hilton (including Home2Suites), Choice, Hyatt, InterContinental (including Candlewood Suites), and Wyndham brands, as well as several independents. Development projects will soon be underway with Extended Stay America and Choice Hotels’ WoodSpring Suites® and Everhome Suites™ extended-stay brands. Management services include corporate strategy, receivership, revenue management, accounting and financial services, human resources, franchise relationship management, hospitality marketing, risk management, hotel construction management, interior design and more.
To register for the Extended Stay Development Seminar, email Richard Sprecher at rsprecher@mjhotels.com. For more information on Meyer Jabara Hotels, visit www.mjhotels.com. For media inquiries, call Barb Worcester of PRpro at (440) 930-5770 or email her at barbw@prproconsulting.com.
