![]() ![]() “Multifamily real estate is one of the most conservative real estate sectors, so they’re really scratching their head with this,” explained Allen, who says that short-term rentals are quickly taking up a fast-growing share of the market. In five to ten years, Allen thinks, more multifamily developers and property owners will incorporate short-term rental components into their projects, and major brokerage firms will have departments that specialize in master-leasing apartment buildings. It is also, however, the future of multifamily development. “This is absolutely the future of hospitality and travel,” said Allen. The platform, like its predecessors, has taken the multifamily and hotel markets by storm. “These are $200 to $500 a night type of accommodations.” “It’s not just kids with backpacks who are 18 years old,” stated Allen. Allen attributes this to Stay Alfred’s decision to operate high-end units in downtown, urban cores and their consistent guest experience, which can make the units more expensive than alternative short-term rentals. About 87 percent of Stay Alfred’s guests are over the age of 40 and the average household income of its guests is more than $150,000. The buildings often feature a variety of amenities from water views to fitness centers.Īccording to Allen, many of Stay Alfred’s guests are older millennials tired of staying in cramped hotel rooms. The units range in size from one to three bedrooms and, in most cities, rent from between $75 to $90 to rent per night. Stay Alfred targets well-finished Class A multifamily properties in major downtown cores throughout the United States, properties that are close to restaurants, entertainment and local attractions. Allen was inspired to create the company while planning a trip with friends to Denver and found that renting a condominium downtown for his entire friend group was cheaper than a single night in one of the area’s centrally-located hotels. Stay Alfred currently operates 2,500 properties in 32 cities across the United States, including Seattle, Chicago, Boston, Denver, New Orleans and San Diego. We’re combining all four of those, and it’s really complex.” Airbnb is a tech platform apartment and multifamily are focused on real estate. “We’re bringing the four-legged stool of real estate, brand, hospitality and tech to a space that traditionally has only had one of those. “The best way to explain Stay Alfred is comparing what Hilton and Marriott are to ,” said Allen. However, unlike Airbnb and VRBO, Stay Alfred goes further than its predecessors who act merely as a platform for individual property owners to rent units it enters into long-term contracts with multifamily owners and developers for several floors of - or entire - buildings before renting them out short term to guests. Short term rentals are ever becoming an increasing share of both the hotel and multifamily markets, a trend that is unlikely to slow anytime soon, according to Jordan Allen, chief executive officer and founder of Stay Alfred, a tech-enabled travel company. I felt safe entering and leaving the building.The short-term rental market has revolutionized both the hospitality and multifamily industries as hoteliers, brokers and property owners are learning to navigate the impact created by the advent of companies such as Airbnb and VRBO. The security in the building is very good. There are homeless in all cities and Denver is no exception. ![]() one night some type of toxic chemical odor was overwhelming. Odors were noticeable in hall, trash, cooking(curry), etc. My husband is not able to walk a city block to the parking lot suggested. After becoming familiar with area worked it out. I thought the room rate was a bargain for downtown Denver Negatives - there is a parking garage for long term renters not short term renters. ![]() ![]() Immediate reply to any calls! The building employees were helpful even though they were not employees of Alfred Premier Lofts. One bedroom with a lot of natural light the other great for anyone that works nights. Positives - Decor very modern, high end, balcony, washer, dryer, dishwasher, only one bathroom. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |