StudioRes by Marriott: Development Cost, Fees, How Owners Finance It and What Lenders Need to See (2026)

A StudioRes by Marriott costs $14,012,800 to $18,549,500 to build for the 124-room prototype, excluding real estate, permit and impact fees, insurance and contingency, according to the franchise disclosure document Marriott dated March 31, 2026. That is $113,000 to $150,000 per key, the lowest-cost build Marriott has ever franchised, with a single bundled fee of 9% of gross room sales. The financing is a construction loan sized on the stabilized NOI, which for this brand lands at 55% to 70% of cost, from Bridge, a bank or a hotel debt fund, with a C-PACE assessment on the mechanical and envelope scope and 25% to 35% equity. An owner-operator can use SBA 504 at 15% to 20% equity instead.

The brand is new enough that lenders underwrite it to the segment rather than to Marriott. The first StudioRes opened in Fort Myers in June 2025, 12 were open at June 30, 2026, more than 50 projects are signed and the FDD makes no financial performance representation, so a lender anchors the pro forma to WoodSpring, ECHO and Extended Stay America data and to Marriott Bonvoy's distribution. On that basis a 124-room StudioRes at $65 of RevPAR earns about $1.15 million of NOI and supports $9.6 million to $10.5 million of senior debt, about 60% of a $17 million all-in cost. This guide gives the Item 7 line items, the fee, the prototype and pipeline, the SBA facts, the lenders, the sizing math and a worked stack. Bridge lends directly on construction from $10 million to $50 million; the program is on its hotel financing page.

Key takeaways

• 2026 FDD: $14.0M to $18.5M for 124 rooms before land, $113K to $150K per key.
• Fees: $50,000 application for a new owner, 9% bundled fee including a 1.5% marketing fund, 20-year term.
• 12 open at June 30, 2026 (1,488 rooms); 50-plus signed; no Item 19 yet.
• SBA eligible: Franchise Directory code S8679 (March 2026) with the extended-stay transient test.
• At segment NOI a 124-room StudioRes supports about 60% senior leverage; Bonvoy distribution is the upside case.

What does a StudioRes cost to build?

From the StudioRes by Marriott 2026 FDD, Item 7, which puts the 124-room prototype at $14,012,800 to $18,549,500 before land, with a $50,000 application fee and a 9% bundled fee that includes a 1.5% marketing fund. The table excludes real estate, permit, tap and impact fees, insurance and the 5% hard-cost contingency Marriott notes but does not quantify. Per-room lines multiply by the 124 rooms.

The prototype is about 124 rooms on roughly 1.75 acres at 54,000 to 58,000 square feet. Add land ($800,000 to $2 million for the site), the excluded fees and insurance, a 5% to 10% contingency and an interest reserve of 4% to 6% of the loan, and most projects land at $130,000 to $165,000 per key all-in. Marriott says it cannot give a meaningful estimate for a conversion.

What are the StudioRes fees?

A $50,000 application fee for a new-to-system owner ($100,000 for an existing or managed-to-franchised StudioRes) and a bundled fee of 9% of gross room sales that includes a 1.5% marketing fund contribution, on a 20-year term from opening authorization that is not renewable; an optional revenue-management advisory service runs $1,265 to $1,400 a month. The bundle replaces the franchise fee, program services contribution and loyalty charge that Marriott's select brands pay separately (about 10.9% all-in on a Fairfield), and it compares with WoodSpring's 8.5% (6% plus 2.5%), ECHO's 8.5% to 9%, Everhome's 9% bundle and LivSmart's 8.5%. The full Marriott schedule is in Marriott franchise fees by brand.

How is StudioRes performing, and how big is the pipeline?

There is no Item 19. The first StudioRes opened June 2, 2025 in Fort Myers, a 124-key hotel developed by Concord Hospitality and Whitman Peterson, with more than 40 expected to open across the U.S. and Canada by the end of 2027. Noble Investment Group broke ground on its tenth StudioRes in September 2025, with more than 50 projects signed and roughly half under construction. Marriott's second-quarter 2026 release counts 12 StudioRes hotels and 1,488 rooms, all in the U.S. and Canada, against 4 at year-end 2025. For a lender that is encouraging on the brand's trajectory and silent on its RevPAR, so the pro forma comes from the segment. The comps lenders use: WoodSpring's purpose-built hotels at about 77.5% occupancy, a $67 ADR and $52 of RevPAR in 2025; ECHO Suites hotels open six months at more than 70% occupancy; and Extended Stay America Premier Suites at 76% occupancy and a $69 RevPAR. StudioRes sits between the economy and midscale extended-stay rates, and most 2026 underwriting lands at $60 to $70 of RevPAR.

Is StudioRes SBA eligible?

Yes. StudioRes by Marriott was added to the SBA Franchise Directory on March 27, 2026 as code S8679, with two conditions on the listing: any third-party manager must be unaffiliated with Marriott, and more than 50% of revenue must come from guests staying 30 days or less (shown in projections for a new build). A 7(a) loan runs to $5 million at a variable rate capped at 10% (prime plus 3.00 points); a 504 pairs a bank first mortgage with a 6.97% fixed 25-year debenture capped at $5.5 million and needs 15% equity on a hotel (20% if the business is new), and the two combine to $10 million since July 2026. On a $17 million StudioRes the debenture cap binds, so the 504 fits projects near the low end of Item 7 or an 80- to 100-room variant; every owner must be a U.S. citizen or national. The rules and brand table are in the SBA Franchise Directory check for hotel brands.

Who finances a StudioRes build?

Marriott's own role is limited: Item 10 says Marriott generally does not finance franchisees and may provide a contingent guaranty or mezzanine loan only in very limited circumstances, and the franchise agreement references unamortized key money "if applicable" without a program. Bridge closed more than $500 million of hotel loans in 2025 and lends on construction from its own balance sheet; market terms for rows 2 and 3 are from the Crittenden 2026 hotel lending survey.

How do lenders size a StudioRes construction loan?

Off a segment-anchored NOI. For this hotel, 76% occupancy times an $85 ADR is $64.60 of RevPAR, and 124 rooms at that rate produce about $2.92 million of room sales and $3.0 million in total. After the 9% fee, a 4% FF&E reserve, payroll for six to eight employees and property taxes and insurance of about $270,000, NOI is about $1.15 million at a 38% margin.

That is a better result than the higher-cost extended-stay brands produce: the same NOI on a $21 million LivSmart is 48% leverage, and on a $14 million WoodSpring 71%. StudioRes's cost per key is what makes a Marriott flag work at economy extended-stay rates. The requirements every construction lender runs, and the draw process, are in hotel construction loans in 2026.

Worked example: a 124-room StudioRes

Building cost $15.8 million (mid-range of Item 7), land $1.2 million, $17 million all-in, $137,000 per key.

At $1.15 million of stabilized NOI, permanent debt service of about $865,000 on the senior loan and $178,000 on the assessment gives a 1.10x combined cover in the first stabilized year and 1.25x at $1.3 million of NOI, which a $72 RevPAR delivers; most lenders structure a 36-month term with the coverage test at month 30. If the market supports a $95 ADR at 78% occupancy ($74 RevPAR), NOI rises to about $1.45 million and the senior loan to $12 million at 71% of cost. Bridge's $10.45 million construction loan on a 122-key WoodSpring Suites is the live comparable at the economy end of the range.

What do lenders need to see on a StudioRes deal?

1. The executed Marriott franchise agreement and its technical services and design agreements.
2. A GMP contract with a bonded contractor and a 10% to 15% contingency (Marriott's 5% is a floor).
3. A budget inside $14.0 million to $18.5 million plus the excluded items.
4. An STR study of the market's extended-stay set with a pro forma anchored to WoodSpring, ECHO or ESA data.
5. Sponsor liquidity of 10% to 20% of the loan.
6. A prior extended-stay or select-service build on the guaranty.
7. A takeout plan with a 24- to 36-month ramp.

On an SBA loan, add the S8679 code and the transient test to the file.

When is a StudioRes the wrong build?

• Avoid it with a bank that wants Item 19 data. The brand will not have it until 2027; use a direct lender or debt fund.
• Avoid a pro forma above $75 of RevPAR unless the market's ESA Premier or Home2 comp set supports it.
• Avoid SBA 504 above about $15 million of cost. The $5.5 million debenture cap binds at the 124-room size.
• Avoid a site under 1.75 acres. The prototype needs the footprint, and site work is outside the FDD line.
• Avoid building within five miles of a WoodSpring, ECHO or LivSmart opened in the last three years without a demand study; the segment is adding supply quickly.