MEMPHIS, Tenn. -- Home2 Suites by Hilton, the mid-tier, extended-stay hotel brand targeting savvy, cost-conscious, extended-stay guests has continued to see promising growth in its development pipeline and has celebrated another exciting milestone in recent months: the second groundbreaking for the brand in Layton, Utah. The brand, which broke ground on its first hotel in Fayetteville, N.C. in December 2009, is on track to open more hotels in less time than any other Hilton Worldwide brand.

"Home2 was the right product, at the right price, in the right segment and was launched at the right time to assure successful growth for this new brand," said Bill Duncan, Global Head, Brand Management, Home2 Suites by Hilton. "Hotels are continuing to break ground and we're getting close to our first grand opening. The future is looking optimistic and multiple reports are showing that financing is loosening, so this is the perfect time to invest in developing a Home2 Suites."

Anticipating an exciting end to the year, the brand expects to open its first Home2 Suites in Fayetteville, N.C. this December, allowing prospective owners and developers a location to visit outside of the brand's impressive prototype spaces in Memphis. With substantial government business available in Fayetteville, the hotel expects to open with immediate high occupancy, offering a competitive rate and everything the military needs for long-term stays.

The brand has nearly 70 approved franchise agreements with commitments to move into construction shortly, two locations officially under construction and has more than 30 additional agreements in various stages of the development pipeline.

True to the presumption that Home2 Suites would especially flourish in suburban markets that included government business, the first two locations to break ground are home to military bases. The brand's development pipeline is seeing substantial growth in markets that include long-term training and contract business. At an estimated $70-$80,000 cost per key, excluding real estate and based on the Memphis market, the configuration has proven desirable to developers. Additionally, the four-story wood frame construction requires a site plan that is less than two acres, allowing for less overall land space yet still maximizing rooms at a 108-key prototype.

Other attractive construction highlights include 4,200 square feet of community space; 56,668 gross square feet for the entire building; and comfortable suite sizes at 323 square feet for studios and 509 square feet for one bedroom suites. The operating model also allows for 14 to 16 employees, providing lower overhead costs.