The pandemic reset American society in some ways that won't go back to what they were.
Literally millions of Americans moved to places not near their offices.
Whereas in the prepandemic era people prized easy commutes and being near work, pandemic-era Americans wanted warm weather, outdoor space, and cheaper living options. While covid was still a major thing and offices were closed, this wasn't really an issue for most companies.
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If you weren't going to the office, how close you lived to any of your company's physical locations didn't matter. That opened up the country and, in some cases, the world to white-collar workers.
There were, of course, limits. Not every company can accommodate workers in every state, but a lot of people got added flexibility and many took their companies up on the opportunity.
The problem -- and it's a big one -- is that many companies have decided that while people can still live where they want, they want workers in their offices at least some of the time.
Traditional hotels, of course, can handle normal short-term stays, but many people have turned to Airbnb (ABNB) when they need longer-term accommodations. That's fine, but other business travelers looking for extended stays want a mix of hotel and home-based services.
Hyatt (H) may have a solution to that problem.
Image source: Hyatt Hotels
Hyatt Launches a New Hotel Concept
Hotels don't generally offer the comforts of home that can be useful for a business traveler on an extended trip. That's why Hyatt has launched the Hyatt Studios brand, an attempt to serve this evolving business market.
Hyatt Studios, which the company says will be "upper-midscale lodging in the Americas," will launch more than 100 locations built with multiple partners beginning in 2023 and completing by 2024.
"The brand is designed to be flexible based on developer needs, accommodating both extended-stay and shorter-stay leisure and business guests depending on the hotel’s market and guest base," according to a news release.
Upper-midscale includes brands like Holiday Inn and Hampton Inn.
"Guestrooms will marry form with function and offer suites with kitchen amenities to provide comfort during extended trips away from home," the company said..
"The Hyatt Studios food and beverage experience will include a complimentary grab-and-go breakfast and a best-in-class, 24-hour market with a wide variety of options to satisfy extended-stay guests -- from health-conscious snacks and ready-made meals to sweet and savory staples to fulfill travel cravings, all of which can be prepared and enjoyed in the guestroom’s kitchen featuring a multi-function convection microwave."
Hyatt Looks to Meet a Need
With more workers not living near their offices, demand for hotels that enable them to be near work for extended periods may become substantial. Those travelers' needs are different from those of people visiting a location on vacation or even traditional business travelers.
On a prepandemic business trip, for example, the hotel guest/businessperson might have fewer restaurant needs because they eat out each night with colleagues. On an extended stay, the traveler may want to cook in their room or eat in the hotel more often.
All Hyatt Studios rooms will feature some form of a kitchenette.
"Amidst a sea of interchangeable extended-stay competitors, Hyatt Studios hotels will transcend dated notions of value-driven compromise by inviting guests to enjoy both the coziness of a studio apartment and the positive energy of being in a creative studio, all with the quality and contemporary style that is characteristic of Hyatt,” Hyatt Senior Vice President Amy Weinberg said.
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