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 /PRNewswire/ -- 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.
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.
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SOURCE Wyndham Hotels & Resorts