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Derived from Econo Lodge, an affordable motel chain for those who need to pinch their pennies while vacationing.

A small dwelling (apartment, loft, studio, etc) which houses no fewer than two families at a time.
Guy 1. "Hey, can we stay at your moms house when we visit Los Angeles?"

Guy 2. "No way man, that Chicano Lodge has no vacancy! We'd better stay at the Holiday Inn instead."
by Japanessence June 22, 2012