Additional Everhome hotels are planned for Arizona, Georgia, South Carolina and Texas.
The hotels are being developed by Paladin Equity Capital and managed by Hotel Management & Consulting.“We’ll be able to compete with older extended-stay hotels in the area, some of which are 15 years old,” he said. “We also look at population growth in the region and general economic activity.”
U.S. Census data show the two-county region added 47,601 people in the year ending July 2021. It was the fifth largest gain among the nation’s 50 largest metro areas. That boosted its population to nearly 5 million, making it the 12th most populous metro area in the U.S. McElhare said there’s plenty of room for expansion, as nearly 20% of hotel demand comes from travelers seeking extended-stay lodging while just 9% of the nation’s hotels are designed for longer stays.