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Steve Shpilsky

CEO & CO-Founder at STAY OPEN, a Sleep as a Service provider transforming any commercial real estate space into affordable, convenient, and socially engaging hotels and co-living properties. 

Steve Shpilsky is the CEO and Co-founder of Stay Open, a company that creates high-end hostels with dedicated co-working spaces in repurposed buildings.1 With over two decades of experience as an entrepreneur, real estate fund manager, and developer, Shpilsky has raised and invested over $250 million in financing and developing branded hotel projects valued at over $750 million.12

Prior to founding Stay Open in January 2019, Shpilsky co-founded California Real Estate Regional Center (CaRE) in 2010, a USCIS designated Regional Center providing real estate financing to developers through the EB-5 investor visa program.1 He has been involved in several significant hotel development projects, including:

  • A $150 million raise for the Waldorf Astoria in Beverly Hills, CA
  • A $35 million raise for the LAX Hyatt House / Place in Los Angeles, CA (where he is also Co-GP & developer)
  • A $33 million raise for a Hyatt hotel development in Palm Springs, CA1

Shpilsky's professional background includes seven years at PricewaterhouseCoopers (PwC) in San Jose, San Francisco, and Moscow, where he worked as a Senior Manager in the Advisory Group.2 He also managed a €100 million Eastern European real estate fund and helped an ultra-high net worth foreign family office acquire a $660 million US office portfolio.2

Shpilsky holds a BS in Accounting and an MBA from the University of Southern California (Beta Gamma Sigma Honor Society) and is a Certified Public Accountant (CPA).4 His vision for Stay Open is to create a sustainable model that provides affordable, clean, and well-appointed lodgings in hot spot locations, while also offering meaningful travel experiences and flexible work spaces for digital nomads.35

Related Questions

What inspired Steve Shpilsky to start Stay Open?
How does Stay Open differentiate itself from traditional hostels?
What are some of the unique features of Stay Open's co-working spaces?
How has Steve Shpilsky's experience at PwC influenced his approach to hospitality?
What are the future plans for Stay Open's expansion?
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Location

Los Angeles, California