LOS ANGELES — In a tight labor environment in which operational efficiences are vital, Pink Roof is betting massive on its HomeTowne Studios by Red Roof extended-keep item.
Purple Roof first released the HomeTowne Studios model in 2018 with the intent of presenting a convenient, expense-efficient and comfortable lodging that benefits each franchise companions and attendees. Then, in 2021, it exposed an upgraded prototype, which assisted alleviate some supply-chain constraints, reported Red Roof Main Growth Officer Matthew Hostetler in the course of a video interview with Hotel News Now at the 2023 Americas Lodging Investment decision Summit.
The general objective of the revamped prototype, he reported, was to “emphasis on the developer, the operator … building certain that they get the ideal bang for their greenback to construct that resort.”
Crimson Roof broke ground on its to start with new-design HomeTowne Studios in Bradenton, Florida, in 2022.
“That particular developer also signed five whole franchise agreements, so the next one is in fact in the ground as effectively,” he said.
Expanding on the HomeTowne Studios manufacturer, Pink Roof in 2022 also unveiled a new-establish, dual-brand name prototype that combines the Purple Roof and HomeTowne Studios brand names underneath just one roof.
Hostetler reported the new dual-manufacturer prototype characteristics 150 rooms, “which provides you the operational rewards of a transient lodge and also the extended-stay.”
“You get a large amount of operational know-how on both of those sides to have a lot of that revenue drop to the base line,” he extra. “And these days, we are in an market where labor’s an difficulty. So you get to share the labor back and forth all the things is in a person central reservation system.”
The twin-brand name by now has some conversions that are open up and functioning, he said, as very well as a signed arrangement for a new-make in Salisbury, North Carolina.
Even with macroeconomic issues, Hostetler said there are savvy developers and buyers out there now.
“They know they have been as a result of downturns ahead of,” he claimed. “They maintain their nose to the grindstone. What we do is we emphasis on all those [individuals] and continue on to keep our nose to the grindstone as effectively.”
He stated he expects there will be a beneficial uptick in marketing franchises across all Crimson Roof makes both of those in terms of new construction and conversions.
For much more from HNN’s dialogue with Matthew Hostetler, watch the online video earlier mentioned.
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