US long stay brand StayAPT Suites has signalled the next phase of its growth, signing a deal with development partner Powerhouse Hotels.
The deal promises to add 30 more locations across mainland US to the StayAPT pipeline, expanding the brand’s footprint to 25 states within the next five years. StayAPT has, as of April 2024, 22 hotels open and operating, with an expectation the brand will grow to 40 locations by the end of 2024.
Building with Powerhouse
Powerhouse is a joint venture between JCap Realty Group and Cullinan Holdings, and has signed a multi-unit development agreement to deliver new aparthotels which will be constructed to meet stayAPT brand standards, featuring the brand’s distinctive aparthotel layout that prioritises comfort, convenience and value for guests – however long they stay for.
They are active in an extended stay segment that continues to see strong activity from major accommodation players. Wyndham Hotels & Resorts, for example, is rolling out development of its recently launched its Echo Suites brand, and in early 2024 acquired WaterWalk, an upscale extended stay brand that is now poised for faster expansion.
Developed by industry veterans and launched in 2020, stayAPT is growing both via direct development, and as a franchise opportunity for developers. The concept and building layout has been devised as aa unique hybrid between multi-family and hotel, allowing flexibility of sizes while delivering a uniformity of standard that successful brands deliver for customers.
“We are excited to partner with stayAPT Suites in this endeavour,” said Brian Johnson, managing partner of Powerhouse Hotels. “The innovative approach of stayAPT Suites aligns perfectly with our vision for investing in hospitality.”
A new approach
For Gary DeLapp, president and CEO of stayAPT Suites, the partnership is a significant step forward in taking the brand to national prominence across key US markets: “This multi-unit development agreement marks a significant milestone in our growth strategy and demonstrates the appeal of our unique apartment-style concept to guests, investors and the franchise community.”
StayAPT launched in October 2020 in Goldsboro, NC with its new design layout promising an innovative experience for those staying in an aparthotel property. The design philosophy abandoned the traditional one-room hotel layout, in favour of a residential-feeling suite with intentional spaces. Guests, or residents – depending on how they feel, and how long they are staying – enjoy a dedicated living room, fully serviced kitchen, and separate bedroom. CEO DeLapp built the concept following his experience in the sector including leadership roles at brands that today are key parts of the extended stay landscape – Woodspring Suites, Extended Stay America, and Invitation Homes.
