Economy Extended Stay: The Undersupplied Opportunity, With Michael Nielson

Economy extended stay is a real estate niche most people have never thought about. Michael Nielson, founder and CEO of West 77 Partners and LivAway Suites, left his family's 20,000-unit multifamily business to build a vertically integrated platform focused on economy extended stay — a category he says operates closer to multifamily than to traditional hotels. Host Phil Coover talks with Michael about the staffing efficiencies that let these properties run on a fraction of a typical hotel's headcount, the market data behind site selection, and the in-house construction company that has kept every build on budget. Michael also explains why West 77 favors long-term holds over quick flips, and how employee ownership keeps everyone aligned.Connect and Learn More☑️ Michael Nielson | LinkedIn☑️ West 77 Partners | LinkedIn☑️ Phil Coover | LinkedIn☑️ McGuireWoods | LinkedIn | Facebook | Instagram | X☑️ Subscribe Apple Podcasts | SpotifyThis podcast was recorded and is being made available by McGuireWoods for informational purposes only. By accessing this podcast, you acknowledge that McGuireWoods makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in the podcast. The views, information, or opinions expressed during this podcast series are solely those of the individuals involved and do not necessarily reflect those of McGuireWoods. This podcast should not be used as a substitute for competent legal advice from a licensed professional attorney in your state and should not be construed as an offer to make or consider any investment or course of action.