Saving Money With Extended Stay Hotels?

Answer 1

Staying in a hotel is affordable for 2 or 3 nights, but after this time the bill can become large and hard to pay. Most hotels are priced on a nightly rate. The rate includes all of the amenities and the fees for daily cleaning and maintenance. Since a regular hotel sees guests come in and leave for stays less than 3 days on average, their revenue predictability is dicey, resulting in the higher nightly rates. Extended stay hotels offer a lower rate, but they are usually priced at a weekly rate. Some extended stay locations are priced on a nightly basis, which is considerably lower than most other hotels.

Extended stay hotels also have a feature that standard hotel rooms do not - a kitchenette. Some nationwide chains such as Extended Stay America and Homestead Suites offer low nightly rates for hotel rooms with a furnished kitchenette. The nightly rates are equal to a cheap economy hotel room, but the amenities and kitchenette make it well worth the value. Some other locations offer a weekly rate. One example with several locations nationwide is InTown Suites. Average weekly rates are less than $200. These hotels are able to keep their rooms filled more consistently, enabling them to offer lower rates. Also the need for housekeepers is not as great, since housekeeping is usually done only once weekly.

While nightly rate-based extended stay hotels are a great value for business travelers especially, they are also economical for families who are traveling on a budget. Having a kitchenette with a stove-top and refrigerator eliminates the need to spend large amounts of money on fast food and sit-down restaurants. Most hotels furnish the kitchen with plates, pans and silverware. If rooms are not furnished, the front desk usually offers the option to check out a pack of kitchen necessities for a fee less than $10 per week. Pets are usually welcome at most extended stay hotels for a fee. To put the money-saving idea of extended stay hotels into perspective, a regular room would average about $70 per night, equaling $490 weekly, while extended stay hotels are usually less than $300 per week.