{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Extended Stay Wins in Volatility: High Occupancy, Lean Model","description":"Greg Juceam is President and CEO of Extended Stay America as and he\u2019s successfully scaling Premier Suites in the middle of one of the hardest building environments we\u2019ve seen in years.  \ud83c\udfd7\ufe0f Greg launched Extended Stay America Premier Suites in 2021, and the company invested in the first 15 hotels as proof of concept\u2014then built the franchising system so owners could scale it \ud83d\udcc8 Premier Suites now sits north of 50 hotels and keeps climbing, and Greg expects 100 in the next few years \ud83e\udd1d Greg leans on the owner-operator advantage: Extended Stay America still owns and manages about 70% of the portfolio, so they build first and work out the kinks before they ask franchisees to invest \ud83d\udcca He ties hashtag#extendedstay momentum to performance: extended stay runs high occupancy with a lean model\u2014his company ran north of 76% while the industry ran about 62% \ud83e\uddfc He spells out the operating win: fewer turns and fewer cleans when guests stay longer \ud83e\uddf1 He keeps standards pragmatic: build and operate efficiently without over-building beyond what guests pay for \ud83d\udd27 He keeps the design and construction team active and adjusts the prototype so owners can build for less even with rates staying high  Want the weekly roundup of news, videos, and what you might\u2019ve missed from hashtag#NoVacancyNews? Text HOTEL to 66866. ","author_name":"No Vacancy Live and No Vacancy News","author_url":"http:\/\/novacancy.libsyn.com\/podcast","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/40813250\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/40813250"}