Feb
28

Dual-Branded Hotel Development on the Rise

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An addition to being the tallest hotel tower in North America, the 68-story Courtyard-Residence Inn Central Park in Midtown Manhattan is also the most visible example of multi-branding, a growing trend among hotel developers to combine two and in one case, three different hotel brands owned by the same company in a single development.

The $308 million project by Marriott International and G Holdings, which combines a 378-room Courtyard hotel and 261-suite Residence Inn in a tower near Times Square and Central Park, is the second dual-branded property to open so far this year. At 750 feet, it edged above the Marriott at the Renaissance Center in Detroit as the tallest pure-play hotel on the continent.

While the first dual-branded hotel opened back in the 1980s, the concept has become increasingly more popular with developers and hotel firms over the past two years, driven by investor and traveler demand for select-service and extended-stay segments, and the cost-savings that result from sharing construction and operational expenses.

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