Stay Alfred Expands Portfolio With Acquisition of Short-Term Rental Company Dormigo
Hospitality Startup Partners with STR Company in Austin, Nashville and San Antonio
SPOKANE, Wash., November 25, 2019 (Newswire.com) - Stay Alfred, the hospitality startup that pioneered the travel apartment concept in alternative accommodations, today announced it has acquired short-term rental hospitality brand Dormigo, including their portfolio of units in Nashville, Austin and San Antonio. Dormigo’s previous short-term rentals have transitioned into Stay Alfred travel apartments, including the following properties:
- Stay Alfred on Red River Street in Austin
- Stay Alfred on North Capital in Austin
- Stay Alfred on Main Street in Nashville
- Stay Alfred on 9th Street in San Antonio
Since 2011, Stay Alfred has expanded into 33 cities in prime walkable downtown neighborhoods, offering travelers “your place in the city.” The company, which has hosted over 800,000 guests, leases partial to entire buildings across the nation and operates them as upscale travel apartments.
“There was an undeniable synergy between Dormigo and Stay Alfred, and we are excited to be acquiring a company whose ethos and product align perfectly with our own,” said Jordan Allen, CEO of Stay Alfred. “Our strength lies in operational excellence and making turnkey transitions possible for other operators. With Dormigo’s portfolio centered in some of the most lively downtown cities in the U.S., its properties are a perfect fit for Stay Alfred guests who want to live like locals.”
Stay Alfred partners with short-term rental companies, developers, property management companies, real estate investment trusts, and family offices to provide unique travel experiences and improve the net operating income (NOI) of multifamily assets through a mixed-use model with a hospitality component.
“Our complementary business models and similar company cultures made the transition process with Stay Alfred incredibly easy," said Dan Peled, Founder and CEO of Dormigo. "We believe in providing the best possible stay in a city where you can live like a local, and we trust the Stay Alfred team to continue that tradition.”
Stay Alfred travel apartments combine the quality, consistency and guest support of a hotel with the lifestyle amenities of an upscale residential building, bringing travelers the best of both worlds. Units feature dedicated living spaces, full kitchens, washer and dryer, free Wi-Fi, and a self-guided check-in process. Guests also have access to top-tier building amenities and communal areas.
"We are extremely excited at the synergy of the Stay Alfred family with Dormigo," said Aviv Shalgi, Chief Business Officer at Dormigo. "The acquisition combines our strategic locations with Stay Alfred’s proven guest experience to provide a world-class service for leisure and business travelers alike.”
For more information visit stayalfred.com.
About Stay Alfred
Established in 2011, Spokane, Washington-based Stay Alfred pioneered the concept of the travel apartment by providing travelers with the space and comforts of an upscale apartment with the consistency and reliability of a hotel stay. The company has grown to over 2,500 units in 33 walkable cities and has hosted more than 800,000 guests. Founded and built by a former Army Ranger, Stay Alfred lives to offer travelers "your place in the city." For more information, visit StayAlfred.com.
Dormigo was launched in 2016 in Chicago, Illinois, as a short-term rental hospitality brand, operating in some of the most lively cities in the U.S. Dormigo apartments were designed by local experts and provided all the comforts of home in desirable neighborhoods with plenty to see and do. The startup quickly grew and established a presence in Texas and Tennessee, with over 100 properties in the portfolio, and catered to more than 50,000 business and leisure guests.
Source: Stay Alfred
Categories: Real Estate