Extended Stay Brand AKA Hotel Residences Plans To Stay A While

Staying in apartments used to be a couch-surfing alternative for travelers who couldn't bear to drop hundreds of dollars on a night in a hotel. Now, more travelers are opting to live in these homes away from home, including those with plenty of dollars to spare.

Philadelphia-based AKA Hotel Residences is an extended stay company that provides luxury apartment homes for America's rich and famous. The brand has been a pioneer in the business of offering week-to-month long stays at serviced residences for over a decade, but faces more competition than ever now, from Airbnb Luxe to Marriott's Home & Villas. I recently sat down with Larry Korman, president of AKA and co-CEO of Korman Communities, to talk about his philosophy on the competition, AKA's famous clientele, and why he won't be expecting his kids to follow his footsteps in the family business.