Roost extended-stay hotel to open this summer at Baltimore Peninsula
A Roost Apartment Hotel will open this summer at Baltimore Peninsula, billing itself as an extended-stay property that blends the attributes of a boutique hotel and upscale apartments.
The hotel with 81 extended-stay units and 40 apartments will be the latest addition to the 235-acre mixed-use waterfront neighborhood under development in South Baltimore. Leasing started earlier this month for two separate apartment buildings with 416 units.
On Wednesday, developers unveiled the brand, design and management of a hotel they’ve long planned for Baltimore Peninsula, under development by MAG Partners and MacFarlane Partners with joint venture partners Sagamore Ventures and Goldman Sachs.
The Roost brand “not only brings a high-quality, high-design hotel operation to the neighborhood, it bolsters our credentials as a destination to visit and enjoy,” said Kevin Plank, Sagamore’s principal and CEO, in an announcement.
Plank is also founder of Under Armour, which is building a new global headquarters nearby on waterfront land owned by the sports apparel brand.
The waterfront community, formerly called Port Covington, was rebranded as Baltimore Peninsula in November. The hotel and apartments are among the first five buildings, which also include two office buildings with tenants that include CFG Bank and H. Chambers Co.
Roost, at 2400 Terrapin Way, is a hotel concept of Philadelphia-based Method Co., a real estate and management company that specializes in hospitality and restaurants. Method has opened Roost hotels in Philadelphia, Cleveland and Tampa, Florida, and plans locations in Detroit and Charleston, South Carolina. The hotels offer stays as short as a few nights to as long as nine months.
Before becoming familiar with Method’s offerings, MaryAnne Gilmartin, founder and CEO of MAG Partners, said in an interview that her “sense of extended stay was really an idea that was really stuck in the past. I did not understand how evolved and bespoke the offering is at Method. … They’re really focused on a very particular piece of the market.”
Gilmartin said she expects businesses at Baltimore Peninsula to rely on ROOST as a place for their guests and visitors to stay.
The hotel, which Method will manage, will offer a mix of furnished studio, one-, two- and three-bedroom apartment hotel units with full-size kitchens and balconies, a concierge, fitness center, open-air pool, and outdoor bar and lounge.
“It’s a great location for our first Roost here in Baltimore,” said Randy Cook, Method’s co-founder and CEO, in an interview.
Method started the brand about a decade ago to fill a void in the extended-stay space, which Cook said lacked “product that focused on high-touch service and design in an apartment setting.”
“AirBNB has done a lot for this segment in terms of letting people experience what it’s like to stay in an apartment for a shorter term, but there’s a lot of inconsistencies in that experience,” Cook said. “One of the things we deliver with Roost is a branded experience in an apartment-style accommodation.”
Rates typically depend upon length of stay, starting at $269 a night. Cook said he expects about half the business to come from guests who stay a month or more, while about half will likely stay from about a week to a month. He said he has seen strong demand among employees who relocate or travel to work on long-term projects and in areas with medical facilities or film production hubs.