Suggestions
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

