stayAPT Suites, the apartment-style hotel brand, has partnered with Powerhouse Hotels, a joint venture between JCap Realty Group and Cullinan Holdings, for a significant expansion initiative. This collaboration involves signing a multi-unit development agreement, adding 30 new locations to stayAPT Suites’ portfolio, and expanding the brand footprint to 25 states over the next five years, with six locations that will break ground in 2024.
stayAPT Suites has 22 operational hotels and a projected total of 40 by the end of 2024.
“We are thrilled to join forces with Powerhouse Hotels to expand the reach of stayAPT Suites," stayAPT Suites President and CEO Gary DeLapp said in a statement. "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 Suites focuses on new construction, flexible prototype sizes and maintaining a uniform standard across properties. Leading with an owner mindset and boasting corporate-owned and franchise-owned properties, the company says its highly efficient labor model enhances operational efficiency.
“We are excited to partner with stayAPT Suites in this endeavor," said Brian Johnson, managing partner of Powerhouse Hotels. "The innovative approach of stayAPT Suites, a unique hybrid between multi-family and hotel, aligns perfectly with our vision for investing in hospitality.”