Home2 Suites by Hilton Celebrates Successful Year
Fastest Growing Brand in Hilton Worldwide History Continues to Gain Momentum
MEMPHIS, Tenn. -- Home2 Suites by Hilton, the mid-tier, extended-stay hotel brand targeting savvy, cost-conscious, extended-stay guests has continued to see promising growth in its development pipeline and has celebrated another exciting milestone in recent months: the second groundbreaking for the brand in Layton, Utah. The brand, which broke ground on its first hotel in Fayetteville, N.C. in December 2009, is on track to open more hotels in less time than any other Hilton Worldwide brand.
Anticipating an exciting end to the year, the brand expects to open its first Home2 Suites in Fayetteville, N.C. this December, allowing prospective owners and developers a location to visit outside of the brand's impressive prototype spaces in Memphis. With substantial government business available in Fayetteville, the hotel expects to open with immediate high occupancy, offering a competitive rate and everything the military needs for long-term stays.
The brand has nearly 70 approved franchise agreements with commitments to move into construction shortly, two locations officially under construction and has more than 30 additional agreements in various stages of the development pipeline.
True to the presumption that Home2 Suites would especially flourish in suburban markets that included government business, the first two locations to break ground are home to military bases. The brand's development pipeline is seeing substantial growth in markets that include long-term training and contract business. At an estimated $70-$80,000 cost per key, excluding real estate and based on the Memphis market, the configuration has proven desirable to developers. Additionally, the four-story wood frame construction requires a site plan that is less than two acres, allowing for less overall land space yet still maximizing rooms at a 108-key prototype.
Other attractive construction highlights include 4,200 square feet of community space; 56,668 gross square feet for the entire building; and comfortable suite sizes at 323 square feet for studios and 509 square feet for one bedroom suites. The operating model also allows for 14 to 16 employees, providing lower overhead costs.
About Home2 Suites by Hilton | Home2 Suites by Hilton, the newest addition to the Hilton Worldwide portfolio of brands, is a mid-tier, extended-stay hotel concept designed to offer stylish accommodations, flexible guest room configurations and inspired amenities for the cost-conscious guest. As the fastest growing brand in the history of Hilton Worldwide, Memphis, Tenn-based Home2 Suites offers a complimentary breakfast selection; innovative and customizable guest room design; combination laundry and fitness area; complimentary Wi-Fi Internet access; multiple outdoor spaces; 24-hour business center; expansive community spaces; and a commitment to environmentally friendly products and hotel operations. For more information about Home2 Suites by Hilton visit http://www.home2suites.com/. For information on franchising opportunities, visit http://www.home2franchise.com/.
About Hilton Worldwide | Hilton Worldwide is the leading global hospitality company, spanning the lodging sector from luxurious full-service hotels and resorts to extended-stay suites and mid-priced hotels. For 91 years, Hilton Worldwide has been offering business and leisure travelers the finest in accommodations, service, amenities and value. The company is dedicated to continuing its tradition of providing exceptional guest experiences across its global brands. Its brands are comprised of more than 3,600 hotels and 599,000 rooms in 81 countries and include Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton, Doubletree, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages the world-class guest reward program Hilton HHonors®. For more information about the company, visit www.hiltonworldwide.com.
About Hilton Worldwide
Hilton Worldwide (NYSE: HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 95 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company's portfolio of eleven world-class global brands is comprised of more than 4,100 managed, franchised, owned and leased hotels and timeshare properties, with more than 685,000 rooms in 92 countries and territories, including Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Curio - A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®.