The Guild

About The Guild

Founded in 2016 by Brian Carrico and Chris Herndon, The Guild operated a collection of apartment hotels across seven U.S. markets before closing in 2023. Carrico, with a background in boutique hotel development, and Herndon, brought together their expertise to create the company. They identified an opportunity in the market after recognizing that modern apartment buildings were increasingly offering hotel-like amenities. Their experience as frequent business travelers who were tired of traditional hotels also fueled their vision for a better alternative.

The Guild's business model focused on partnering with developers of luxury apartment and office buildings. It would lease entire floors and convert them into branded, short-term rental suites, primarily targeting business travelers. The company aimed to provide a consistent, high-quality experience that differed from the variability of individual Airbnb rentals while offering more space and amenities than a typical hotel room. Revenue was generated from nightly rates, which were estimated to be between $150 and $250. For property owners, The Guild offered a partnership that was often structured as an asset-light management agreement, where the property manager would fund capital needs and share in the financial upside, a contrast to the more capital-heavy master lease agreements used by some competitors.

The Guild's properties offered guests spacious, design-focused apartments in urban neighborhoods. Each unit included amenities like full kitchens, high-speed Wi-Fi, and in-unit washers and dryers. Beyond the individual apartments, guests had access to the building's shared facilities, which often included pools, gyms, and rooftop terraces. The company also layered on hotel-like services, such as a concierge and housekeeping, and used technology to streamline the guest experience. A key part of their strategy was to immerse guests in the local community by partnering with local artisans and merchants. Significant milestones for the company included raising $8.5 million in a Series A funding round in 2018, followed by a $25 million Series B round in early 2020. Despite its efforts and initial success, the company ceased operations in 2023.