REPORT: JANUARY WEATHER IMPACTS EXTENDED-STAY HOTEL PERFORMANCE

MOST PERFORMANCE METRICS for extended-stay hotels in January trailed behind the overall hotel industry compared to the same month last year, according
to The Highland Group.

Weather likely influenced this, particularly due to the construction industry’s significant contribution to extended-stay hotel demand, especially at lower
price points.

According to the National Centers for Environmental Information, January witnessed geographically widespread record low temperatures in 2,500 counties.
Additionally, there was large-scale flooding in Texas and Louisiana, marking it as the tenth wettest January on record.

Extended-stay hotels have maintained strong annual demand over the past 25 years, excluding 2020, with rare monthly contractions during this period, the
report said.