SHORT STOP.

• Date: 01 December 2022
• Author: Solender, Michael J.

Gary DeLapp is a pioneer in the extended-stay sector. Now he's building a new brand.

Not every road-warrior corporate exec or gig worker facing a short-term, remote assignment in a distant city wants to snag an Airbnb. That's an underlying reason that veteran lodging-industry executive Gary DeLapp sees big potential for his Matthews-based startup, stayAPT Suites.

With backing from New York private-equity group Lindsay Goldberg, stayAPT is targeting 100 corporate-owned and 250 franchisee-owned properties within five years. Thirteen hotels were open as of October, including properties in Raleigh and Goldsboro, where the first stayAPT opened in October 2020. A few dozen more units are in the permitting and construction stages, mostly in the Southeast and Texas.

DeLapp says stayAPT is aiming at the higher end of the extended-stay market with a room design that sets the brand apart from entrenched rivals including SpringHill Suites, Homewood Suites and Extended Stay America, one of his former employers. StayAPT's units average about 500 square feet and include three distinct areas: a kitchen, a living room with a 55-inch television, and a...