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  • Business Dump - Extended Stay Hotels - Shouldn't You Feel At Home?

    In recent years, what once was an inconsequential niche among hotels in the United States, has reportedly become the fastest growing segment in the hotel industry, occupied by some o
    According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
    f the major hotel players. Generally, this sector is referred to as extended stay hotels, and, indeed, the largest of these chains goes by the name, Extended Stay America. It opera
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    tes over 680 facilities throughout the United States and Canada.

    A facet of this phenomenon is the opportunity spawned by rapid expansion and migration of businesses to sprawling of
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    fice parks in suburban locales. Currently there are some thirty chains and approximately 250,000 extended stay hotel rooms in North America. That’s growing at roughly 5% annually.
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    It’s not uncommon for businesses considering a move to take into account the presence of one or more of these facilities at or near its prospective new location.

    Extended stay hote
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    s have arisen to cater primarily to the requirements of business travelers who spend a week to say, a month, away from home. They are ideal, as well, for people (families) who are r
    ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
    elocating and vendors or professional people in town for several days working with a client.

    What distinguishes extended stay hotels from traditional hotels is that they offer great
    easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
    er living space, sometimes with two bedrooms. Typically, they will include a separate workspace, along with a completely equipped kitchen, including a refrigerator, microwave oven,
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    sink and occasionally a stove and dishwasher. Laundry and dry cleaning facilities are provided on the premises and many have convenience stores and grocery shopping. Obviously, the
    and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
    re will be cable TV and usually a DVD player. A number are even pet friendly.

    In support of business travelers, there are in-room, high speed internet connections (often wi-fi), me
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    ting rooms, faxes, copy machines and other business equipment.

    Extended Stay America, the largest player, is not allied with any of the major hotel chains. The latter, however have
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    jumped on the bandwagon in a big way.

    Basically, extended stay hotels fall within three levels of accommodations, upscale, mid-range and economy. The upscale category, by and larg
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    e, has been occupied by a few of the majors -- Marriott, Hyatt, Hilton and Intercontinental. Marriott, by a considerable margin, outnumbers the competition with Marriott Residence I
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    nns. Hilton operates Homewood Suites, Hyatt offers Summerfield Suites, acquired from Wyndham, and Intercontinental weighs in with Staybridge Suites.

    Among mid-range extended stay h
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    otels, you’ll again find Marriott, operating TownPlace Suites, Intercontinental under Candlewood Suites and Hyatt with Hawthorn Suites.

    The big hotel chains appear to be bypassing t
    t?

    As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
    e economy niche. Extended Stay America dominates this segment and there are several recognizable chains such as InTown Suites, Suburban and Crossland.

    If your tastes run to the mor
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    e lavish, you probably can do no better than Marriott’s bi-level penthouse suites with fireplaces at its Residence Inns. Hmm… Just like home! The point is that there appears to be
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    a growing demand for more well appointed, longer term lodging.

    Should your predilections not be quite so lofty, one of the features you or your business will appreciate is that room
    .

    As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
    rates are generally more modest than traditional hotels. Bear in mind, though, that just as with conventional lodging, there is often a clear connection between price and quality.
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    All offer weekly rates representing discounts.

    If you’re planning to be away from home for a week or more, why not book one of the extended stay hotels? Shouldn’t you feel at home


    tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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