Born during a trip to 2020 shared between Eric and Michael Dayan, entrepreneurs and investors, and Jess Levy, a property specialist, HIGHSTAY is an independent collection of luxury tourist flats located in the centre of Paris.
Two years into the HIGHSTAY adventure, the three founders invited the press to an emblematic flat from the collection to present their concept on 19th September. Resolutely Parisian, the design of the flat on Rue de Rivoli is symbolic of the HIGHSTAY’s DNA.
The 3-room flat has all the hallmarks of a Haussmann-style building, with a 4-metre-high ceiling and large floor-to-ceiling windows. Its details (joinery, parquet flooring, lighting etc.) are signed by French artisans, while other elements, such as the marble bathrooms and steam fireplaces, combine the traditional with the modern. According to Michael Dayan, "the initial idea was to create the flat of our dreams".
Overlooking the Louvre and the Tuileries Gardens, the location of this flat is no accident. The collection's stated ambition is to "offer guests an unforgettable city experience" in the most exclusive districts of Paris (the Golden Triangle, the Marais, Louvre-Rivoli, Opéra).
An autonomous business model
HIGHSTAY operates a highly centralised business model. Not just the owner-operator of all its assets, the collection has an in-house team of 25 people who handle virtually every aspect of the flats' day-to-day operations.
This includes a Clefs d'Or concierge service, as well as an internal studio of architects and interior designers. HIGHSTAY is autonomous, from flat acquisition to design and operation.
As for marketing its properties, the collection is present on major distribution channels such as Airbnb, Booking.com and Marriott Bonvoy. However, it is now generating more and more direct bookings from its own website following the redesign of the latter in early summer 2023. At the same time, according to the collection's directors, customer loyalty is beginning to develop with more and more return client.
HIGHSTAY is positioned as a blend of an apartment hotel and a five-star palace. Stays range from 2 to 30 days, with nightly rates from €490 to €1,990. Today, its clientele consists mainly of families and business customers from abroad.
A collection with ambition
HIGHSTAY's portfolio currently comprises 32 flats in the 1st, 2nd, 3rd, and 8th arrondissements of Paris. By 2025, the collection intends to expand to around a hundred addresses in the capital's most sought-after districts.
Once this goal has been achieved, the three founders will turn their attention to international markets. According to Jess Levy, the two priority markets for this expansion will be Spain and Italy, with a particular focus on major cities such as Madrid and Rome.