SPOKANE, Wash. - February 20, 2019 - (Newswire.com)
Stay Alfred, the hospitality startup that pioneered the travel apartment concept in the alternative accommodation space, will be participating in Bisnow’s annual Portland Multifamily Summit on February 26, 2019; Senior Vice President of Real Estate at Stay Alfred, Mike Wilson, will talk about short-term rental opportunities for developers seeking a boost in NOI in the panel covering “Who's Building & Who's Buying: Where, Why, & How?”
Stay Alfred is leading the industry in investment, development and land use regulatory law in the evolving urban short-term rental sector. The company partners with multifamily developers and property managers to lease units and entire buildings and then offer them as travel apartments for guests.
“Stay Alfred is providing new opportunities for multifamily owners and developers right now, in fact, we’re currently looking to lease upwards of 200 units in Portland’s Pearl District in 2019,” said Mike Wilson, Senior Vice President of Real Estate at Stay Alfred. “Bisnow’s summit and this panel will be a prime opportunity to not only introduce our legal model for operating short-term rentals, but also provide insight on what Stay Alfred is seeing in nationwide trends and how multifamily developers can innovate by adding short-term rentals to eliminate lease-up and reduce operating costs with multi-year master leases.”
On the heels of raising $47 million in Series B funding in 2018, Stay Alfred currently operates more than 2,000 upscale, professionally managed travel apartments in 32 cities and is continuing its trajectory of rapid expansion.
“We’ve been operating in Portland for more than 6 years, and we’re looking at 2019 to be a milestone year for us there, with more partnerships and acquisitions,” said Jordan Allen, CEO of Stay Alfred. “Mike has a unique understanding of the underwriting process, asset valuation and acceptable risk levels of properties in Portland, which makes him incredibly valuable for us and our partners, but also an exceptional industry expert on the cutting edge of these trends. Pair Mike with our expert legal team in navigating the short-term regulatory environment in Portland, and we’ll be able to offer even more opportunities for developers this year.”
Working with multifamily developer, investors and commercial banking in the Pacific Northwest for more than two decades, Wilson oversees real estate expansion and partnerships with national developers and brokers.
“Stay Alfred has set an aggressive growth strategy in Portland and Seattle to keep up with each cities’ continued tourism growth,” said Wilson. “We’re seeing more and more national developers and property managers partner with us because of our flexible lease options and clear benefit to NOI.”
For more info on Stay Alfred, visit StayAlfred.com/partner-with-us, including all Portland properties at StayAlfred.com/Portland. For more info on Bisnow’s Portland Multfamily Summit 2019 visit Bisnow.com/events/portland
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ABOUT STAY ALFRED
Stay Alfred offers upscale travel apartments in the walkable downtown neighborhoods of 32 U.S. cities and counting. Our next-generation booking process, 24/7 customer service and professional housekeeping staff provide guests with the reliability of a hotel stay, while our spacious accommodations with a kitchen, laundry and private bedrooms provide guests with the convenience of an apartment. We live to provide "Your place in the city." For more information visit StayAlfred.com.
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Original Source: Amid Rapid National Expansion, Stay Alfred to Join Portland Bisnow Summit 2019
