Name: Larry Korman
Title: President
Company, city: AKA; Plymouth Meeting, Pa.
Number of employees: 500
Recent project: AKA Beverly Hills
First job: Hotel management with Trusthouse Forte, England, 1983
Little-known fact about you: I live in Louis Kahn’s last residence (1974). And my favorite part of traveling is breakfast!
Your Business
Essential business philosophy: Stand for something clear and distinctive; a brand cannot be everything to everyone. At AKA, we assemble people who want to be part of something special and take pride in what they and the company offer. Genuine friendliness and delivering authentic hospitality matter more than credentials alone. We hire for attitude and commitment to service as much as for technical expertise.
Best way to keep a competitive edge: Stay ahead in relevancy, design, technology and cleanliness. Offer what people both need and want. Use technology to reach potential residents—an engaging website, thoughtful SEO and active social media. Impress residents with contemporary, comfortable design in everything from bedding to lighting, and maintain exceptional housekeeping standards.
Yardstick of success: Beyond industry metrics like occupancy and average daily rate, we measure success by our ability to elevate the AKA experience year after year. We invest in properties so they improve over time rather than age. Repeat residents and strong word-of-mouth are among our clearest indicators of success.
Larry Korman as a Traveler
What is the most important item you take when traveling? Bose noise-cancelling headphones and my iPad.
How do you spend your time on board? I use travel time to read design and travel magazines and to capture ideas from property visits that I can apply to our operations. For entertainment I prefer light, funny TV shows—I rarely watch TV at home, so flights are a chance to catch up.
What is your favorite destination in the world? Turks and Caicos or Bermuda for beaches, and Utah for hiking.
What is your favorite restaurant in the world? In Los Angeles: Nobu Malibu and Pizzeria Mozza. In New York: Quality Meats and Locanda Verde. In London: The River Café and afternoon tea at The Brown’s in Mayfair.
About AKA
What is the concept behind AKA? AKA is a luxury serviced-residence brand designed for modern nomads—people who stay for a week or more and want to feel at home. The brand operates nine properties: four in New York City and one each in London, Beverly Hills, Philadelphia, Washington, D.C., and Virginia. Each property blends a private, sophisticated apartment with the personalized service and amenities of an intimate hotel. AKA’s philosophy centers on helping residents pursue their goals while traveling. Our Live It! program encourages residents to maintain routines, explore new interests and make the most of their time away from home.
What attracts business travelers to AKA properties? Our services and spaces cater to guests who value design, independence and a local living experience, typically staying two weeks to three months. Suites include full en-suite kitchens and separate living areas, differentiating us from traditional hotel rooms. Communal spaces such as the a.lounge, a.bar and a.cafe extend the suite experience by offering relaxed areas to unwind, work or socialize. We also provide full-service fitness centers, complimentary business centers and conference rooms. All of this is offered at a compelling value for extended stays compared with conventional hotels.
What’s in store for the future of AKA? The brand is evolving through partnerships, new programs, ongoing renovations and additional properties. Over the next three to five years, we plan to add eight to 12 properties to the portfolio. We recently acquired a Financial District property in New York City—our first location in Lower Manhattan—that will become AKA Wall Street, featuring approximately 140 spacious suites.