5. Stay Tony, and the vision of short-term living. This week I checked out the newest location of StayTony, a short-term housing company that puts the emphasis on modern design. Stay Tony was created by Tony Diamond and has launched in Los Angeles. The newest location is in West Hollywood, a partnership with local developer and restaurateur Paul Kalt.
I caught up with Tony to ask a few questions about the brand and where he's headed next. What's interesting about Stay Tony is that they offer a hotel-style experience that is an elevated version of the extended-stay model with bespoke furnishings and custom art. Diamond told Inside that while the minimum is one month, many residents stay several months or even a year. One reason might be that, unlike many other options, Stay Tony is dog-friendly.
Why do you think financing rent is becoming popular? What are the potential pitfalls?
Corporations finance their equipment and their infrastructure. Now they can finance rent for their employees as they send them on temporary job assignments around the country. We see this as a way of allowing companies the ability to preserve cash and spread their payments over time as being a win-win.
What are the demographics of your average client?
Our guests are of all ages and backgrounds, but what they all share in common is their love of great interior design. We create a unique experience with our highly stylized design and that's what we believe draws our guests to StayTony.
Is your clientele a mix of individuals and corporate clients?
We have a supply issue. We have way more interested guests than we have apartments so until we add a great number of apartments we won't be able to form corporate relationships.
What one thing could make your business expansion easier?
Money. We are growing so fast we constantly need more money. I wish money grew on trees, it would make things so much easier.
Imagine it's 2030, what does Stay Tony look like?
This is a tough question because we are in the process of developing a new housing model, that complements our existing model, that we think will permanently change the trajectory of housing. I can't tell you what 2030 will look like without revealing this new model and unfortunately I've been sworn to secrecy!