“When 2020 began,” says Larry Korman, President of AKA Hotel Residences, “we were celebrating the start of our second century as a fourth-generation company at Korman Communities. AKA was off to its best start ever in January, February and March . . . .” And then the pandemic hit.
In a lively conversation, Chris Olshan, Chief Executive Officer, Luxury Marketing Council, and Larry Korman look back on the best and worst of 2020, a year of challenges and changes for the entire hospitality industry. Larry looks ahead to an AKA
brand that is expanding in the next two years, doubling in size from ten to twenty properties, and taking AKA to the next level as the globally recognized, premier provider of luxury serviced residences.
Looking back on AKA during a year of limited travel, Larry says, “What we recognized about travelers in 2020 is that they were seeking self-sufficient sanctuaries. People were travelling less frequently but staying longer.” AKA became the perfect solution for people traveling and needing to stay indoors. AKA truly is their home away from home with large living spaces that can function as an office and a place to work out, with kitchens for preparing meals in your own residence when restaurants are so restricted, and with in-suite or in-building amenities, like a laundry and gym, for the convenience and safety of our residents.
Looking ahead Larry emphasizes that “AKA is all about showing luxury, not just saying luxury. AKA is about the romance of travel which will be even more important to people as the constraints of the pandemic ease and people can move about more freely again.”
Watch the entire interview on YouTube.