MATTHEWS, North Carolina—stayAPT Suites announced a significant expansion initiative in partnership with Powerhouse Hotels, a joint venture between JCap Realty Group and Cullinan Holdings. 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.
The strategic alliance between stayAPT Suites and Powerhouse Hotels underscores confidence in the brand’s concept of apartment-style accommodations. The brand has 22 operational hotels and a projected total of 40 by the end of 2024.
Gary A. DeLapp, president and CEO of stayAPT Suites, said, “We are thrilled to join forces with Powerhouse Hotels to expand the reach of stayAPT Suites. 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.”
Brian Johnson, managing partner of Powerhouse Hotels, said, “We are excited to partner with stayAPT Suites in this endeavor. The innovative approach of stayAPT Suites, a unique hybrid between multi-family and hotel, aligns perfectly with our vision for investing in hospitality.”
