Los Angeles-based Startup Transforms Unused Commercial Space into Pod Hotels
Summary
STAY OPEN, the Los Angeles-based startup transforming unused commercial space into pod hotels and co-living properties, has today announced the closing of its $2 million seed round funding. STAY OPEN is uniquely poised to generate newfound income for real estate owners through revenue from daily hotel guests and monthly residents.” STAY OPEN hotels and residences consist of private modular rooms each with 4 to 8 private sleeping pods, high-end shared restrooms, large common areas for work or play, food and beverage outlets, and locally-inspired amenities. “The STAY OPEN team possesses the perfect blend of technology, real estate and operations backgrounds,” said Nuri Katz, founder of Apex Capital Partners and advisor to the family office. Now is the perfect time to disrupt how and where people stay.” The funding will enable the company to grow and scale STAY OPEN’s technology, brand and operations platform to develop pod hotels and residences that will appeal to tech-forward and open-minded users. “Once the health crisis is contained, people will want flexible and affordable sleep options for travel and long-term stays in prime locations,” added Shpilsky.