Box(BOX) Prnewswire·2024-10-07 13:00Core Insights - Choice Hotels International is launching a new modular design package called "Lobby in a Box" to enhance its extended stay hotel offerings, allowing for quick transformation of lobby spaces into multifunctional areas tailored for long-stay guests [1][2][3] - The new solution complements the previously introduced "Kitchen in a Box," which has already been successfully implemented in over 30 hotels since its launch in spring 2022 [4][5] - The demand for extended stay accommodations is currently exceeding supply, creating opportunities for hotel conversions that are faster and more cost-effective than new constructions [4][6] Company Innovations - "Lobby in a Box" enables hotel owners to adapt their lobby spaces within 120 days, creating new income opportunities by incorporating marketplaces for food, beverages, and essential travel items [1][4] - The modular solutions are designed to meet the specific needs of long-staying guests, who prefer in-room dining experiences due to fully equipped kitchens in extended stay properties [1][3] - Choice Hotels aims to simplify the conversion process for franchisees, maximizing their return on investment through innovative design solutions [3][4] Market Position - Choice Hotels is positioned to open its 500th extended stay property this year, highlighting its rapid growth in the extended stay segment [4] - The company has established two key extended stay brands: Suburban Studios and MainStay Suites, focusing on catering to both economy and midscale markets [6][8] - Franchisees utilizing the new modular solutions have reported significant improvements, including a 43% increase in year-over-year revenue per available room (RevPAR) and a 10.2% rise in guest satisfaction scores [5][6]