It had languished idle for about two years because of the bankruptcy of its original developer, Seaboard Realty.
Bethesda, Md.- based Urgo Hotels & Resorts is managing operations at 25 Atlantic.
“This is an exciting time for Stamford, and we’re thrilled to partner with Marriott to bring the city its first extended stay product,” UC Funds founder and CEO Dan Palmier said in a statement. “It’s a natural complement to the Courtyard and an important addition to a thriving downtown.”
Other neighboring hotels include a Marriott, at 243 Tresser Blvd; a Sheraton, at 700 E. Main St.; a Hotel Zero Degrees at 909 Washington Blvd.; and a Hampton Inn & Suites, at 26 Mill River St.
Several other Residence Inns operate in Connecticut, including locations in Avon, Danbury, Groton, Hartford, Manchester, Milford, Rocky Hill, Shelton and Windsor.
Another Residence Inn is scheduled to open in February in Norwalk’s SoNo section.
Residence Inn’s growth underscores the robust amount of business travel in Connecticut. The number of such travelers in the state annually has increased 28 percent since 2014, according to the state’s Office of Tourism.
Business and recreational travel combined to produce about $ 14.7 billion in sales and $ 1.7 billion in tax revenues for Connecticut in 2015, the most recent year for which state data are available. The industry supported about 83,000 jobs.
“The Residence Inn in Stamford is a great thing because of the importance of business travel to our economy,” said Randy Fiveash, the Office of Tourism’s director. “Not only are people spending money in restaurants and attractions while they’re here, but they may also return with their families for tourism visits to Connecticut.”
Many corporations put their employees up in apartments for longer stays. The construction of several thousand units in Stamford, Norwalk and other neighboring communities in recent years has created a proliferation of new housing near central business districts.
Home- sharing apps such as Airbnb provide another option for corporate travelers.
Under Airbnb’s tax agreement with the state, the company automatically collects and remits Connecticut’s 15 percent room occupancy tax on behalf of its hosts. In August, Airbnb announced it had generated $ 5.2 million in tax revenue for the state in the past two years.
As of July 1, there were 3,600 active Airbnb hosts across Connecticut, taking in about 140,000 guests during the past year, according to company data. The typical Connecticut host made $ 6,700 per year by operating approximately three days per month.
At the same time, local officials in cities such as Stamford have grappled with regulating the business.
In response to complaints about reported dis- turbances at a number of Airbnb rentals, Stamford’s Board of Representatives has debated whether the city should adopt new lodging rules for residences. The legislative body voted last year to study the issue.
“Airbnb is a part of our travel industry,” Fiveash said. “But we don’t know yet how Airbnb is affecting the industry. We’re still trying to determine the total effect.”
Stamford Residence Inn officials said their hotel stands out because of its amenities and focus on customer service. They also cite guests’ ability to earn Marriott Rewards points for their stays.
“We provide a unique experience and a level of service the apartments can’t provide,” Lindvall said. “We’re hopeful that we can bring those folks back to a hotel. We’re ready to meet the needs of today’s travelers.”
A second- floor view from the new Marriott Residence Inn extended- stay hotel at 25 Atlantic St. in downtown Stamford on Wednesday.
General Manager Todd Lindvall in the lobby of the new Residence Inn by Marriott extended- stay hotel.