How AKA Hotel brand is innovating in a heavily competitive market

TL;DR

Larry Korman, President of APA hotels, discusses the importance of perseverance, hard work, and passion in entrepreneurship.

Transcript

hello I'm Larry Korman president of APA hotels and you are watching behind the brand with Bryan Elliott I consider myself an entrepreneur in the sense that I recognized the importance of blazing new trails I recognized the fun in flying something different not worrying about whether or not it works or doesn't work at first but to learn from the exp... Read More

Key Insights

• 💦 Entrepreneurs need perseverance, hard work, and passion to succeed.
• 🫡 Family businesses require finding a balance between respect and personal growth.
• 🥺 Starting young and having a passion for the industry can lead to long-term success.
• ❤️‍🩹 AKA residences offer a unique concept, catering to longer stays with high-end furnished residences.
• ❓ The success of AKA is attributed to the company's continuous evolution and adaptation.
• 🥅 Respectful communication and perseverance are crucial in overcoming challenges and achieving goals.
• 🤔 Entrepreneurship requires a proactive and forward-thinking mindset.

Questions & Answers

Q: What advice does Larry Korman give to young entrepreneurs?

Larry Korman advises young entrepreneurs to have perseverance, patience, and a passion for their work. He highlights the need to push through challenges and constantly pursue their vision.

Q: How did Larry Korman get involved in the real estate industry?

Larry Korman was born into the real estate industry, with his father, grandfather, and great-grandfather all working in the field. He got involved at a young age, working with his father, showing a passion for design and residential real estate.

Q: What is the concept behind AKA residences?

AKA residences evolved from a furnished apartment concept discovered by Korman's father. AKA offers high-end furnished condominium residences with hotel amenities, catering to longer stays. It fills the gap between daily hotel stays and long-term apartment leases.

Q: How does Larry Korman recommend dealing with family businesses?

Korman advises standing up for oneself and respecting family members. He suggests finding a balance between voicing one's opinions and maintaining a healthy relationship. By working hard and pushing towards their goals, individuals can earn respect and freedom within the family business.

Summary & Key Takeaways

• Larry Korman emphasizes the importance of perseverance, hard work, and passion in entrepreneurship.

• He shares his personal journey in the real estate industry, which started at a young age.

• Korman explains how his company, AKA, evolved as a furnished residence concept catering to longer stays.