“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, Indiana-based Holladay Properties and Miami, Florida-based Gold Coast Premier Properties. Holladay Properties have 25 Project ECHO hotels signed in the key cities across the Midwest as well as Nashville, Tennessee; Savannah, Georgia; and Jacksonville, Florida, and Gold Coast Premier Properties has 10 hotels signed in South Florida and New Jersey.
The 124-room Project ECHO prototype requires just under two acres of land and has a 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 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, Texas, and additional groundbreakings are scheduled for this fall.