Wednesday, July 24, 2024
Reading Time: 2 minutesLivAway Suites has proudly announced the grand opening of its inaugural hotel in the Salt Lake City metropolitan area. Recently recognized as the top job market in the nation by the Wall Street Journal, Salt Lake City marks the first location for this rapidly expanding economy extended stay brand. LivAway Suites is designed to accommodate construction workers, traveling medical professionals, military personnel, displaced families, digital nomads, and others in need of intermediate to long-term lodging. This hotel segment has proven to be a reliable and consistent source of investment returns across all market conditions, bolstered by the $1.2 trillion Infrastructure Act and the CHIPs Act.
Breaking ground in June 2023, the 126-suite hotel in West Jordan, Utah, was constructed in just over 12 months. It features modern suites with fully equipped kitchens and technological enhancements that elevate the extended stay experience. West77 Partners, the developer of the hotel, proudly stated that the project was completed on schedule and well under budget, a significant achievement given the current inflationary pressures.
“LivAway Suites has an incredibly efficient design that gives you the most bang for buck I’ve seen in this segment,” said Paul Duncan, Chief Development Officer of West77 Partners. “A lot of brands are trying to get into the economy extended stay market, but LivAway Suites has incorporated decades of learning into its hotel design and operating system. Our budget savings on this project are evidence of that.”
The LivAway Suites brand was established to modernize economy extended stay lodging with a real estate-centric operating model. Featuring Scandinavian-inspired architecture and design, sleek finishes, and tech-enabled rooms, the hotel stands out. However, its lean operating model garners the most attention. With one of the lowest franchise fee structures in the hospitality industry and a physical layout designed to streamline operations, LivAway Suites is focused on achieving operational efficiencies to maximize return on investment.
“Three years ago, we created LivAway Suites to be the first hotel brand created for developers, by developers®. Every decision made by the brand must translate to a higher return on investment for the real estate, otherwise we do not pursue it,” said Kevin Dailey, Chief Operating Officer for LivAway Suites. “With our number one goal always being the success of the real estate, LivAway Suites is able to achieve results that other brands simply cannot compete with.”