With the recent opening of its 40th Premier Suites property in Sparks, NV, Extended Stay America (ESA) believes the odds are very much stacked in favor of accelerated growth and additional milestones for the nascent brand.
Launched in 2021, the midscale extended-stay flag has gained momentum among developers and boasts a robust pipeline of properties, according to Mark Williams, managing director, franchise development, Extended Stay America. Sandpiper Hospitality developed the hotel and will manage the property, which opened roughly six weeks ago.
In an exclusive interview with LODGING, Williams described Sparks as an “in-demand market right now” and he touted the location of the newest asset for ESA, a Charlotte, NC-based privately-held company with more than 750 hotels and three brands in its extended stay collection.
“This is a very dynamic market. I think they [Sandpiper] did a phenomenal job picking both the site and the market. There have been very few hotels in Sparks since 2001 and there’s been a lot of development. So the market was right for both new hotels and extended stay with all the new growth going on there and ESA only had one asset on the far south side of town. It checked all the boxes as far as markets and the opportunity for growth in the future,” he said.
The Extended Stay America Premier Suites Reno – Sparks is located a half mile off I-80 and five miles from the Reno-Tahoe Airport. The hotel has several nearby demand generators, such as the Northern Nevada Health System, the University of Nevada Reno, and numerous government agencies. Known primarily for its casino and tourism industry, Reno is the most populous city of Washoe County.
Carter Rise, CEO, Richmond, VA-based Sandpiper Lodging Trust, reinforced the benefits of the local market noting that major corporations like Microsoft, Google, and Tesla maintain a strong presence there. He also pointed out it’s home to the Tahoe-Reno Industrial Center, the largest industrial park in the world with more than 100,000 acres of dedicated manufacturing and distribution.
“Reno has gone from being a small sort of cowboy and gambling town to a very desirable place for younger people, for tech people, and for people in the arts. There are also dynamic outdoor recreation opportunities there, such as hiking and horseback. We’re also very, very close to a lot of really good skiing so it’s just a very dynamic, very high-growth market. It’s only three-and-a-half hours from the Bay Area so you’ve really got a lot of opportunity there,” he noted.
Rise talked specifically about the benefits of the Premier Suites brand for Sandpiper Hospitality, the management affiliate of Sandpiper Lodging Trust, which specializes in extended-stay hotels and owns 36 such properties in its portfolio with a handful of major brands.
“We have a lot of experience in economy extended stay and we wanted to do something in the midscale segment. We’ve watched the growth of Premier Suites and seen how the early ones have performed and they’ve performed really well. So from our perspective, it’s a great brand name, high-quality product and it’s really got a proven track record now,” he said.
Williams further touted the partnership for Premier Suites, which he added he expects to reach the 50-property mark by the end of 2024.
“We’re very excited to partner with Sandpiper. These guys know extended stay; they manage them and they own them. They’ve also been doing this for a number of years,” he said.
The four-story, 144-room, newly-constructed Extended Stay America Premier Suites Reno – Sparks features free WiFi, complimentary healthy breakfast, premium cable, a fitness room, onsite guest laundry, an outside grilling area, and Extended Stay America Premier Suite’s signature spacious lobby with additional vending options, according to the company. All suites include fully-equipped kitchens with a full-size refrigerator, microwave, stovetop, cookware, utensils, and dishes, as well as signature bedding, recliners, and workspace.
The configuration of this particular Premier Suites property is unique, according to Rise, who explained the decision to expand on the brand’s traditional floor plan.
“The location was so good instead of building the standard box we decided to build it really to maximize the room count. It’s an L shape because that fit on the property really well, but it’s a gorgeous property with incredible mountain views. It’s as nice as you’ll find in midscale extended stay,” he noted.
