Hilton Unveils Name for New Long-Stay Brand: LivSmart Studios by Hilton
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The introduction of LivSmart Studios by Hilton represents a strategic expansion into the extended-stay hotel market, which has shown resilience and growth potential, particularly in the $300 billion workforce travel segment. This move by Hilton (NYSE: HLT) addresses a specific market niche for guests requiring accommodations for 20 nights or more, indicating a targeted approach to capturing long-stay demand.
With more than 350 deals already in negotiation, this signals a strong market interest and potential for rapid brand expansion. The construction timeline, with groundbreaking occurring within five months of brand announcement, suggests an aggressive development strategy that could enhance Hilton's market share in the extended-stay segment. This initiative may also diversify Hilton's revenue streams and provide a buffer against market volatility in other travel segments.
The focus on essential amenities tailored for long-stay guests, such as kitchen facilities and a functional lobby design, is likely to appeal to the targeted demographic, potentially increasing guest loyalty and occupancy rates. Participation in the Hilton Honors program further incentivizes long-term stays through loyalty rewards, potentially increasing direct bookings and reducing reliance on third-party booking platforms.
The announcement of LivSmart Studios by Hilton could have a positive impact on Hilton's financial performance. The brand's development aligns with consumer trends favoring longer stays, which could lead to higher average daily rates (ADRs) and occupancy levels, contributing to overall revenue growth. Given the brand's positioning in the lower midscale segment, it may attract a broader customer base seeking affordable extended-stay options.
The robust pipeline of over 350 deals suggests that the capital expenditure for this expansion is supported by strong owner and developer interest, which may mitigate financial risks associated with new brand launches. Moreover, the expedited construction timeline could lead to a quicker return on investment, benefiting Hilton's long-term financial outlook.
Investors should monitor the brand's performance post-launch, particularly its ability to achieve and maintain high occupancy rates and its impact on Hilton's overall RevPAR (revenue per available room). The extended-stay market's growth trajectory, coupled with Hilton's established brand reputation, could contribute to positive stock market performance for HLT in the medium to long term.
The launch of LivSmart Studios by Hilton reflects a strategic response to evolving travel behaviors, with a particular emphasis on the extended-stay segment. The brand's design elements, such as an inviting exterior and studio apartment-style accommodations, are crafted to meet the preferences of long-stay travelers seeking a home-like environment.
The nontraditional lobby experience and inclusion of communal spaces with grills and fire pits are innovations that cater to the desire for community and convenience among guests on prolonged stays. This focus on creating a differentiated experience is a competitive advantage that could position LivSmart Studios as a leader in the extended-stay niche.
As Hilton integrates LivSmart Studios into its portfolio, it will be crucial to maintain brand consistency while also allowing for the unique positioning of the new offering. Strategic marketing and operational excellence will be key in achieving high guest satisfaction and repeat business, which are vital for the success of the new brand within the competitive hospitality landscape.
Built to accommodate guest stays of 20 nights or more, the lower midscale, extended-stay solution already has more than 350 deals in various stages of negotiation
LivSmart Studios by Hilton is the newest addition to Hilton's portfolio of 22 world-class brands. (Photo: Hilton)
LivSmart Studios by Hilton is the newest addition to Hilton's portfolio of 22 world-class brands. The lower midscale, extended-stay solution provides a reliable and consistent foundation for the long stay, allowing guests to make the most of every day.
“From luxury to premium economy, Hilton has a rich history of strategically building brands for every guest and every travel occasion,” said Chris Silcock, president, global brands and commercial services, Hilton. “At Hilton, we continue to innovate our brands to meet the needs of the ever-evolving traveler, and we are excited to find an opportunity to better serve the long-stay guest with LivSmart Studios.”
“After much anticipation, we’re thrilled to announce that LivSmart Studios by Hilton is official,” said Isaac Lake, brand leader, LivSmart Studios by Hilton. “With a resilient
LivSmart Studios hotels address a clear void in the market by targeting an underserved segment of guests staying 20 nights or more. This intentional approach positions LivSmart Studios as a disruptive force in the extended stay market by meeting the distinct needs of longer-term guests with essential amenities for an exceptional stay experience. Long-stay travelers can expect three signature elements, including:
- Deliberate Design: Long-stay guests will be welcomed by the hotel’s inviting exterior of warm wood tones and a modern farmhouse-inspired palette with light industrial touches. Properties will also feature outdoor patios outfitted with grills, a communal fire pit and comfortable seating to make it truly feel like home.
- Spacious Studio Apartment-Style Accommodations: The adaptable layout of the thoughtfully crafted suites will provide comfort and functionality. Each room will feature spacious bathrooms, ample storage space, efficient closet design, and movable, multi-purpose furniture that allows guests to utilize the space as a place to work and rest. The kitchen area is also especially important to long-stay travelers and will include a fully equipped kitchen with a full-sized refrigerator, dishwasher, microwave, two-burner stovetop and more.
- Nontraditional Lobby Experience: The brand’s hyper-functional lobby allows sight lines from the front desk to the fitness and laundry areas, as well as a simple retail market, creating a safe and welcoming environment for long-stay guests looking to grab a great cup of coffee, fit in a workout or start their laundry.
LivSmart Studios by Hilton will participate in Hilton Honors, Hilton’s award-winning guest loyalty program for the company’s portfolio of nearly 7,400 properties worldwide. Members who book directly with Hilton have access to instant benefits, including a flexible payment slider that allows members to choose nearly any combination of Points and money to book a stay, exclusive member discounts, free standard Wi-Fi and the Hilton Honors mobile app.
In October, Hilton celebrated the groundbreaking of the brand’s first hotel. Construction on the future 137-room property in
For more information about LivSmart Studios by Hilton, visit stories.hilton.com/LivSmartStudios.
About LivSmart Studios by Hilton
The latest addition to the Hilton portfolio, LivSmart Studios by Hilton is a lower midscale, long-stay hotel brand offering simplicity, consistency and convenience to guests who may be traveling for weeks or months at a time. LivSmart Studios creates a space where guests can seamlessly maintain their daily routines while also immersing themselves in the local community. Each property will feature a streamlined public area filled with natural light that includes a simple retail market, a large guest laundry room and a state-of-the-art fitness center. There will also be a spacious outdoor gathering area, which includes a fire pit, grills, and comfortable seating for guests looking to connect. Guest studio suites include a fully equipped kitchen with a full-sized refrigerator, dishwasher, microwave, and two-burner cooktop, along with ample storage options for the long-stay traveler. Learn more about LivSmart Studios by Hilton at stories.hilton.com/LivSmartStudios.
About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 22 world-class brands comprising nearly 7,400 properties and more than 1.1 million rooms, in 124 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history, was named the No. 1 World’s Best Workplace by Great Place to Work and Fortune and has been recognized as a global leader on the Dow Jones Sustainability Indices for seven consecutive years. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 173 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240109623440/en/
Caroline Logan
Hilton Global Brand Communications
Caroline.Logan@hilton.com
Source: Hilton
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