US: Travel apartment hospitality startup Stay Alfred has acquired short-term rental brand Dormigo, including its portfolio of units in Nashville, Austin and San Antonio respectively.
Short-term rentals that were previously owned by Dormigo have since been rebranded as Stay Alfred travel apartments to become the following:
- 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 launching back in 2011, Stay Alfred has expanded into 33 cities in neighborhoods close to downtown areas. It has hosted over 800,000 guests in “upscale travel apartments” on leases varying from entire to partial building agreements.
Stay Alfred CEO Jordan Allen said: “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.
“Our strength lies in operational excellence and making turnkey transitions possible for other operators. With Dormigo’s portfolio centred in some of the most lively downtown cities in the US, its properties are a perfect fit for Stay Alfred guests who want to live like locals,” he added.
Stay Alfred partners with short-term rental companies, developers, property management companies, real estate investment trusts and family offices to enhance guest experiences and improve the net operating income (NOI) of multifamily assets through a mixed-use hospitality model.
Dormigo founder and CEO, Dan Peled, said: “Our complementary business models and similar company cultures made the transition process with Stay Alfred incredibly easy. 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 apartments aim to combine the quality, consistency and guest support of a hotel with the lifestyle amenities of an upscale residential building. Its units feature dedicated living spaces, full kitchens, washer and dryer, free wifi and a self-guided check-in process.
Guests also have access to top-tier building amenities and communal areas.
Dormigo chief business officer Aviv Shalgi said: “We are extremely excited at the synergy of the Stay Alfred family with 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 the Stay Alfred website here.
