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edyn CEO Stephen McCall: Companionship, community and connection

edyn CEO Stephen McCall talks to SAN about emerging from Covid-19 with new levels of unity and soul across the hospitality sector.

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 24-04-2020

•  In extraordinary times, it's always fascinating to see where the smart money goes. Until Covid-19 struck, Extended Stay America stock was regarded as a safe if unspectacular bet, and at the turn of 2020 it was trading at just under $20 per share. In recent weeks both Blackstone and Starwood Capital have taken significant chunks in ESA, representing 4.9 per cent and 8.5 per cent equity stakes respectively, a further vote of confidence in the extended stay segment, which is comfortably outperforming the regular hotel industry in the US, particularly at the economy end of the price scale.

A combination of business from infrastructure project workers, healthcare professionals and an increasing number of residential guests has seen occupancy of around 50 per cent across the economy extended stay piece at a time when many hotels are struggling to achieve high single figures. With a slow and steady recovery on the horizon at best, and more residential business in the offing as Americans struggle to keep up with their mortgage payments, it's clear to see the attraction of a company like ESA to the investment giants.

• If you haven't yet joined one of the regular SABA online industry catch-ups then you're missing out. There are afternoon coffee sessions at 3pm on Monday, Tuesday, Wednesday and Friday; and a very popular evening wine session n a Thursday evening.

Hosted on Zoom, the events are a great chance to catch up with industry colleagues from around the world, to compare notes on the current situation, to offer and receive help and advice, and - for those who have been working from home for weeks - to get some much needed interaction with others. The topics change regularly and while the content is serious, the tone is lighthearted, led by the self-deprecating humour of SABA head honcho Richard Majewski. Click here to find out more and to register for one of the events.

George Sell, editor
george@internationalhospitality.media

International Hospitality Media is the premier specialist in online publishing; conference, exhibition and events, and advisory services for growth sectors of the hospitality industry. The company publishes three industry-leading b2b websites - BoutiqueHotelNews.com and ServicedApartmentNews.com and ShortTermRentalz.com which keep their respective sectors up to speed with news, comment and opinion.

Our conference experience spans four continents and covers high growth segments including boutique, lifestyle and hybrid hotels, serviced apartments / aparthotels and extended stay, and vacation rental. Our events are renowned for their intense focus and attract quality industry leaders, brands and independents, providing unparalleled networking and learning opportunities. We also organise bespoke educational events and investor breakfasts to bring owners, investors, operators, and suppliers together.

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