Stay Alfred is a technology company.
Stay Alfred has raised $47.0M across 1 funding round.
Stay Alfred has raised $47.0M in total across 1 funding round.
Stay Alfred is a hospitality technology company that operates short-term urban vacation rentals, providing the space and privacy of apartments with the consistency and convenience of hotel stays.[1][2][3][5] It leases residential units and entire buildings in downtown areas of major U.S. cities, managing furnishing, cleaning, booking, and customer service to deliver reliable experiences for leisure travelers, families, corporate guests, and those needing extended stays like medical patients.[1][3][4] By 2016, the Spokane-based firm had achieved $13 million in revenue with projections exceeding $25 million annually, managed around 400 units across 12-13 cities, raised $15-17 million in funding, and served over 800,000 guests across more than 30 cities by later counts, demonstrating strong growth in the travel tech sector.[1][4][5]
Founded in 2011 or 2012 in Spokane, Washington, by Jordan Allen—a former Army Ranger—and initial co-founder Conrad Manfred (whose last name inspired part of the "Alfred" branding), Stay Alfred emerged from the idea of offering consistent, affordable short-term rentals amid the inconsistencies of platforms like Airbnb.[3][4][5] Allen, an insightful thinker who studied vacation rental and hotel industries, bootstrapped the company to build a branded alternative, starting with individual units and evolving to master-leasing whole buildings for scalability.[1][4] Early traction came from rapid revenue growth—hitting $13 million by mid-2016—and partnerships like CORT for nationwide furnishing to support doubling its footprint that year, marking pivotal expansion into 13 major U.S. cities.[1][3]
Stay Alfred rides the travel tech wave of tech-enabled hospitality, bridging the gap between inconsistent peer-to-peer rentals (e.g., Airbnb) and rigid hotels by pioneering "travel apartments" in high-demand urban markets.[2][5] Its timing capitalized on post-2010s sharing economy growth, where demand for flexible, home-like short-term stays surged among business travelers, families, and digital nomads amid urbanization and remote work trends.[1][2][4] Favorable market forces include rising OTA commissions (prompting direct booking tech) and opportunities in corporate/government contracts via building leases, positioning it against competitors like Placemakr, The Guild, and Mint House in the furnished rental niche.[2][4] By controlling both "marketplace and widget," it influences the ecosystem toward branded, operator-owned models, reducing variability and enhancing reliability in a fragmented $100B+ vacation rental market.[1]
Stay Alfred's trajectory points to aggressive U.S. expansion (tenfold inventory growth planned post-2016) and international markets, leveraging proprietary tech and whole-building leases for deeper corporate penetration and branding akin to Marriott in rentals.[1][4] Evolving travel trends—sustained demand for hybrid hotel-apartment stays, contactless tech post-pandemic, and urban tourism recovery—will shape its path, potentially amplifying influence through data-driven personalization and ecosystem partnerships.[2][4][5] As a pioneer blending hospitality with proptech, it could redefine urban short-term rentals, evolving from regional player to global brand if it sustains revenue momentum beyond its 2016 highs.
Stay Alfred has raised $47.0M in total across 1 funding round.
Stay Alfred's investors include Nine Four Ventures.
Stay Alfred has raised $47.0M across 1 funding round. Most recently, it raised $47.0M Series B in October 2018.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2018 | $47.0M Series B | Nine Four Ventures |