Wyndham Hotels & Resorts Announces First Groundbreaking for New Extended-Stay Brand
Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,000 hotels across 95+ countries, celebrated the first groundbreaking of its new extended-stay brand, in Plano, Texas. The all new-construction brand, operating under the working title "Project ECHO" is seeing great momentum with 72 hotels in the development pipeline as of the end of the second quarter.
Wyndham Hotels & Resorts celebrates the first groundbreaking of its new-construction, extended-stay brand in Plano, Tex. including Ian McClure, CEO Gulf Coast Hotel Management and Wyndham's Geoff Ballotti, President and CEO; Michele Allen, Chief Financial Officer; Lisa Checchio, Chief Marketing Officer; Chip Ohlsson, Chief Development Officer; Krishna Paliwal, President La Quinta & Hawthorn Suites brands and AD&C; Scott Strickland, Chief Information Officer
"This is a milestone moment for Wyndham, as we break ground on our first hotel under this innovative, extended-stay hotel brand," said Geoff Ballotti, president and chief executive officer, Wyndham Hotels & Resorts. "Demand for extended-stay accommodations continues to surge as interest continues to grow among both guests and developers. As the nation's leader in economy and midscale hotel accommodations, this is the ideal time to introduce a cost-friendly and all new-construction brand, starting with this important and growing Texas market."
Conveniently located just a few miles from Dallas along the southeast corner of Highway 121 and Rasor Boulevard in Plano, this first groundbreaking for the new extended-stay hotel brand is close to the city's nearby shopping, dining, and outdoor offerings. Named "one of the happiest places in the country," Plano offers incredible nature preserves and a variety of arts and cultural activities. The hotel is owned by Gulf Coast Hotel Management and is expected to open in the second half of 2023.
"This new development will offer a modern, extended-stay product with all the conveniences of home for both leisure and business travelers visiting north Texas," said Ian McClure, chief executive officer, Gulf Coast Hotel Management. "We were attracted to Wyndham for this project due to their expertise, and how this new brand is custom-designed with the developer in mind."
The purpose-built, 124-room Project ECHO prototype requires just under two acres of land, has a highly competitive cost per key, and features multiple characteristics that intentionally separate it from traditional economy brands. Coming in at just over 50,000 square-feet—nearly 74 percent of which is rentable—individual rooms average 300 square-feet. The rooms consist of single- and two-queen studio suites with kitchenettes as well as efficiently-designed public spaces—a lobby, fitness center and guest laundry—that help to limit labor needs.