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Qstay Hospitality Technologies Ltd.

Company type	Private
Industry	Hospitality, Property technology
Founded	2020 (2020)[1]
Founders	Artur Khayrullin Ekaterina Rogozhina Alec Redelman Fesenko Natalya Fesenko [2]
Headquarters	Dubai , United Arab Emirates
Area served	Global
Key people	Artur Khayrullin (CEO) Alec Redelman Fesenko (Co-founder)
Products	Short-term rental management, virtual hotel services
Number of employees	51–200[1]
Website	stayqstay.com

Qstay is a hospitality and property technology company headquartered in Dubai, United Arab Emirates.^[1] Founded in 2020, the company operates as a virtual hotel brand, managing a portfolio of short-term rental properties that it equips with standardized hotel-like services and amenities.^[3]

Qstay's business model focuses on leasing, managing, and upgrading high-end apartments, villas, and penthouses in prime locations, then making them available for rent on various booking platforms. The company has also integrated blockchain technology into its platform, launching a native cryptocurrency token to facilitate payments and develop a decentralized hospitality ecosystem.^[4]

Qstay was founded in 2020 by Artur Khayrullin, Ekaterina Rogozhina, Alec Redelman Fesenko, and Natalya Fesenko, aiming to utilize technology to enhance the management and guest experience of short-term rentals.^[2]

In July 2022, Qstay announced the closing of a US$6.5 million seed funding round, which included a mix of debt and equity financing.^[2] In June 2024, the company secured an additional $4.6 million in a pre-Series A funding round, bringing its total raised capital to $11.1 million. These funds were designated for further expansion and technology development.^[5][6]

Initially focused on the Dubai market, as of 2025 the company expanded its portfolio to include properties in other cities such as Ras Al Khaimah, Tbilisi, Baku and Abu Dhabi.^[7]

Qstay operates as a "virtual hotel brand" by leasing properties, upgrading them to a consistent luxury standard, and managing them with a suite of tech-enabled services. The company focuses on high-end accommodations in prime locations, such as Dubai Marina, Palm Jumeirah, and Downtown Dubai.^[7] Guest services, including extra cleaning and late checkouts, are managed through a mobile app. The properties are equipped with standardized amenities like designer bathrobes and luxury linens, and often provide access to 5-star building facilities like pools and gyms.^[8]

The company has received accolades for its service quality, including Airbnb Superhost status with an average property rating above 4.80 stars.^[9][10] A key part of its growth strategy involves partnerships, such as a major agreement in 2025 to manage the 367-unit Carlton Hotel & Suites in Dubai. As of August 2025, Qstay reported it had managed over 300 properties and achieved $18 million in cumulative revenue since its inception, and planned a strategic shift from a property management company to a global hospitality platform, leveraging its technology for broader applications.^[3]

In August 2025, Qstay announced the integration of blockchain technology into its platform with the launch of its native cryptocurrency token (ticker:QSTAY), on the Solana blockchain.^[4] The token is positioned as a Real-World Asset (RWA), with its value linked to the company's portfolio of over 300 hospitality units. The primary utility of the token is to facilitate crypto-friendly payments for bookings on the Qstay platform and app. This initiative is part of the company's strategy to develop a decentralized hospitality marketplace and expand its global partnerships through the use of smart contracts.^[4]

• Hospitality industry
• Real-World Assets