LivAway Suites™, the rapidly expanding premium economy extended-stay hotel brand, has broken ground on two more properties, located in Richland, WA, at 1289 Tapteal Drive, and Missoula, MT at 3455 W Broadway Street. Both locations are expected to open in 2024. Richland and Missoula are the third and fourth groundbreakings so far this year in the brand’s rapidly growing portfolio.

Notwithstanding the latest tightening in the credit markets, our plan is to continue developing LivAway Suites™ across the country over the next few years either through our own development or via strategic partnerships with other developers. A combination of the Federal Reserve’s interest rate hike campaign and the regional banking crisis has forced some hotel developers to cancel or postpone projects. Real estate development is tougher today than it was two years ago, and LivAway’s goal is to make the process easier for ourselves and our development partners via a low fee structure and support programs that streamline the development process. Mike Nielson, Chief Executive Officer of LivAway Suites™

Keystone National Group, based in Salt Lake City, provided the construction financing for both the Washington and Montana locations and plans to continue providing a financing platform for LivAway Suites™ hotels nationally.

The economy extended-stay segment performed incredibly well during the pandemic and the great financial crisis. LivAway Suites™ capitalizes on that recession-resilient operating model with better aesthetics, smart technology, and a developer-centric platform. As a capital provider, we also appreciate the low fee structure of LivAway Suites™ compared with the higher fees typically charged by other brands. Taylor Jackson, partner at Keystone National Group

Keystone is currently underwriting other LivAway Suites™ locations that are expected to break ground later this year and into 2024. With 25+ projects in various stages of development across the country and strong capital backing, LivAway Suites™ may be one of the few growing brands during this tumultuous time in the credit markets.

To learn more about LivAway Suites, visit www.livawaysuites.com.

About LivAway Suites

Headquartered in Salt Lake City, Utah, LivAway Suites is an innovative extended-stay hotel brand designed to provide guests with essential comforts at an affordable price. The company aims to transform traditional franchise models through transparent pricing structures and superior return on investment strategies tailored to developers. For further details or booking inquiries, please visit www.livawaysuites.com.

For more information about parent company West77 Partners, visit www.west77partners.com.