Spokane-based, Short-term Rental Pioneer Ranked 1,030 on National Fastest-growing Companies List
SPOKANE, Wash., September 3, 2019 (Newswire.com) – For the fourth year in a row, Stay Alfred, the hospitality startup that pioneered the travel apartment concept in the alternative accommodation space, joins Microsoft, Timberland, Vizio, Intuit, Chobani, Oracle and Patagonia, among other top brands, as a member of the Inc. 5000 – Inc. Magazine’s annual list of the nation’s fastest-growing private companies.
“We’re incredibly honored to be named to the Inc. 5000 list four years in a row,” said Jordan Allen, CEO and founder of Stay Alfred. “2018 was a monumental year for Stay Alfred. We’re seeing an interest in and acceptance of our hospitality model that we have long dreamed of. This achievement is a testament to the exceptional guest experience fostered by our team, combined with strong developer partnerships that enable expansion in the country’s prime properties.”
The Inc. 5000 list represents the most successful companies within the American economy’s most dynamic segment — its independent small businesses. With $66.5 million in revenue in 2018 and 409% year-over-year annual revenue growth rate, Stay Alfred has earned noteworthy rankings on the list:
- 1,030th on the list
- 8th out of 57 travel and hospitality brands
- 35th out of the 144 Washington-based companies
Stay Alfred partners with multifamily developers, property management companies, and real estate investment trusts to accelerate lease-up and improve net operating income (NOI) of multifamily assets via long-term leases, then operates the leased units as traveler accommodations.
Prior to raising $67 million in outside capital in 2017-2018, Allen, a former Army Ranger, bootstrapped Stay Alfred to $25 million in revenue. Since 2011, Stay Alred has expanded into 33 cities with over 2,500 units in only the best walkable downtown neighborhoods. The 300-person company has hosted more than 700,000 travelers across the nation. Each unit combines the quality, consistency and guest support of a hotel with the lifestyle amenities of upscale residential buildings in walkable neighborhoods, allowing guests to “live like locals.”
The latest Inc. 5000 ranking comes on the heels of CEO Jordan Allen winning the Entrepreneur of the Year award from EY and Stay Alfred being named one of Washington’s Best Workplaces by the Business Journal.
To view the complete 2019 Inc. 5000 list, visit inc.com/inc5000/list/2019.