Initial deals expand Wyndham's upscale
extended-stay footprint bringing five
residence-style accommodations to urban destinations across the
U.S.
PARSIPPANY, N.J., Oct. 28,
2024 /PRNewswire/ -- Guests seeking contemporary,
upscale residence-style accommodations in urban destinations now
have new offerings to consider in key cities like Houston, Washington
D.C and more as a result of a 10-year development
relationship between Wyndham Hotels & Resorts, the world's
largest hotel franchisor, and Reside, a leading residential
hospitality management company.
The franchise agreements bring five residence-style hotels that
are open or under development to the Wyndham brand—marking the
debut of its Wyndham Residence® tier in the U.S.—with a focus on
expanding its offerings across top 50 markets in the U.S. The model
caters to guests looking for both long-term, home-away-from-home
units as well as those looking for a homebase for a quicker
getaway. For more than three decades, Reside has successfully
managed and operated alternative accommodations and multi-family
units with a key focus on furnished corporate housing. Today,
through its partnerships, the company boasts a presence in 60
countries around the world.
What's more, this partnership builds on Wyndham's foothold in
the extended-stay segment, complementing its existing offerings
across segments with ECHO Suites® Extended Stay by Wyndham,
Hawthorn® Extended Stay by Wyndham and WaterWalk Extended
StaySM by Wyndham. With the addition of Wyndham
Residence® properties in the U.S., the Company reinforces its
commitment to providing hotel opportunities for every owner and
guest across segments.
"Reside has a proven track record as one of the most
successful names in corporate housing. Whether you need a
comfortable place to live for a prolonged time, or you simply need
more space while traveling with a larger group, Reside's model
expands our extended-stay offerings, delivering premium,
professionally managed accommodations in locations we know guests
want to visit. By tapping into Wyndham's distribution network,
we help unlock new demand generators that can help scale their
business to the next level."
-
Amit Sripathi, Chief Development
Officer, Wyndham Hotels & Resorts
Convenient Comfort in Urban Destinations
Several
Wyndham Residences are already established in other parts of the
world, including the United Arab
Emirates, Greece and more,
offering the comfort and convenience of home for business travelers
and tourists alike. Through Reside, Wyndham Residences will bring
guests to some of the country's most iconic urban destinations,
such as Seattle's waterfront
neighborhoods, the arts district of downtown Houston and the country's historic capitol,
Washington D.C.
Open locations include:
- Reside Seattle Downtown, a Wyndham Residence: Settle
into Seattle in the heart of one
of the city's most iconic waterfront neighborhoods with easy access
to Pike Place Market, T-Mobile Park, Lumen Field and the Space
Needle. The contemporary 55-room residence-style hotel is perfect
for extended-stays and weekend getaways alike, offering a gym, free
WiFi, on-site laundry and housekeeping for stays over five
nights.
- Reside Houston Downtown, a Wyndham Residence: Set in the
center of downtown Houston near
the Theater District, Houston Symphony Orchestra and Jones Hall, the 79-room residence-style hotel
unlocks endless adventures in H-town. The former auto showroom
creatively adapts the space into a modern sanctuary with nods to
its industrial past with original hardwood and factory windows.
Guests can enjoy a 24-hour gym, fully equipped kitchens and in unit
laundry.
Future locations include:
- New Orleans: The
22-room residence-style hotel is located in the historic Bywater
neighborhood known for its majestic magnolia trees and vibrant
music scene, just about a mile away from the French Quarter. In
addition to offering guests full kitchens and washers and dryers in
unit, the hotel will have a restaurant showcasing the beloved
flavors of New Orleans, an art
gallery and coffee and wine bars for guests to enjoy.
- Washington D.C.:
Located steps from Barracks Row in DC's Navy Yard, the 81-room
residence-style hotel connects two buildings into one memorable
stay. Guests will enjoy modern amenities like in-room chef-ready
kitchens with stainless steel appliances, reliable Wi-Fi and
in-unit laundry. For those looking to explore, guests will also be
able to take in the historic charm and dynamic food scene in the
surrounding area.
- Washington D.C.: Set in
DC's NOMA neighborhood near downtown and Union Market, the 67-room
residence-style hotel will offer an upscale, modern home away from
home. With a sleek design, spaces will include in-room chef-ready
kitchens, fast Wi-Fi and 24/7 gym access. Its location will also
provide easy access to historic landmarks, museums and can't miss
dining experiences for foodies coming to town.
"We've been in this business for decades, providing quality
and comfort to people looking for a reliable homebase. By
partnering with Wyndham, we unlock access to its expansive
distribution channels—including its network of approximately 112
million enrolled loyalty members—and join forces in delivering the
memorable experiences in iconic cities today's extended-stay guests
are craving."
-
Lee Curtis, Founder & CEO,
Reside
The #1 Hotel Rewards Program
Wyndham hotels
participate in Wyndham Rewards®, the Company's award-winning
rewards program with over 60,000 hotels, vacation club resorts and
vacation rentals worldwide. With approximately 112 million enrolled
members worldwide, Wyndham Rewards is the only hotel loyalty
program where members earn a guaranteed 1,000 points with every
qualified stay.
Accounting for approximately half of all U.S. check-ins, members
can easily redeem points towards free nights at tens of thousands
of hotels, vacation club resorts and vacation rentals around the
world or a host of other rewards like tours, activities, gift
cards, shopping and more. Offering three simple redemption tiers,
free nights start at just 7,500 points per room per night, while
discounted nights start at just 1,500 points per room per
night.
To learn more about Wyndham hotels, or book your next stay,
visit www.wyndhamhotels.com/wyndham.
Images associated with the above release are
available here.
About Reside
Headquartered in Seattle, WA, Reside is the leading provider of
professionally operated and managed global alternative
accommodations with a portfolio of premier hospitality and
technology brands. Reside's mission is to present a new way to
stay; offering a curated experience to guests no matter the
destination or duration of their stay. Reside operates in over 60
countries across the globe, providing a diversified selection of
options to satisfy the growing consumer demand for dependable,
high-quality housing solutions for business or leisure travel. To
learn more visit www.staywithreside.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 893,000
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
112 million enrolled members the opportunity to redeem points at
thousands of hotels, vacation club resorts and vacation rentals
globally. For more information, visit 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.
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 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 conflicts in the Middle East, 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
