Homewood Suites by Hilton in Allen opened in February. Local extended-stay hotels outpaced the hotel market as a whole in 2009 in occupancy and revenue per available room. Hotel operators and analysts expect room rates to rise.
In the key measures of hotel occupancy and revenue per available room, local extended-stay hotels fared better than the market as a whole in 2009, according to Smith Travel Research
Thanks largely to the sluggish economy, local rates at extended-stay hotels dropped 6.6 percent to $62.51 on average last year, and by 7.4 percent to $86.85 industrywide, according to Smith Travel Research.
