Interview: AKA CEO on Service at Luxury Extended-Stay Properties
Skift Take
Designing a guest experience for a two months stay is wildly different from a two-night stay and strikes a balance between facilitating a routine and a connection to new experiences in the city.
Editor’s Note: This interview is part of Skift's CEO interview series. This particular series is with hospitality CEOs talking about the Future of the Guest Experience and the evolving expectations and demands of hotel guests. Check out all the interviews as they come out here. Also, enjoy the previous series on the Future of Travel Booking, with online travel CEOs.
In 1966 Larry Korman’s father realized that there was demand for furnished apartments with short-term leases as an alternative to traditional hotels. It started with just one apartment, which Korman started working at when he was ten years old. He later went through a training management program to learn the more “traditional formal art of hotel hospitality.”
By the time Korman graduated from Duke University, the one apartment had turned into 23 independent units around Philadelphia. Korman went around integrating the individual management and maintenance efforts of each apartment under a single umbrella, KormaSuites, as a way to save on the costs.
In 2005, Korman launched AKA, a collection of luxury serviced residences in urban centers that's grown to include New York, Philadelphia, Washington, Los Angeles, and London. Unlike his more suburban properties, which appeal almost exclusively to business travelers, AKA properties also compete for the leisure travel market, especially among international travelers.
We spoke with Korman, Co-CEO of Korman Communities and president of AKA, about the personalized guest experience that the extended-stay accommodations offer, how technology's role changes based on length of stay, and the growing group of "elastic" guests.
Skift: How does the guest experience at an extended-stay brand differ from a traditional hotel?
Larry Korman: We have something for somebody staying two weeks to three months, which is our sweet spot for length of stay at an AKA.
Rather than room service, you have a full kitchen so if you want popcorn at 1am or make tea, you do it in your own kitchen. If
