Spokane, WA, May 28, 2019 (GLOBE NEWSWIRE) -- Stay Alfred, the hospitality startup that pioneered the travel apartment concept in the alternative accommodation space, announced the addition of Steve Helmbrecht as President and CFO. With the company driving substantial expansion, this is the ideal time for Helmbrecht, former CFO of publicly traded Itron, Inc., to help lead Stay Alfred’s next phase of growth.
With the travel apartment concept, Stay Alfred introduced travelers to a new category that combines the space, furnishings, and local feel of a vacation rental with the consistency, reliability, and customer support of a hotel. Stay Alfred partners with developers and property managers to master-lease Class-A downtown apartment buildings, delivering improved NOI and reduced absorption time.
“This is an exciting time to join Stay Alfred,” said Helmbrecht. “The company has grown significantly over eight years with the type of discipline and customer obsession you expect from a category leader. There is increasing recognition of Stay Alfred’s value proposition, making it the perfect time to invest in expansion, technology and people.”
Helmbrecht, who was instrumental in raising over $2 billion in equity and senior and subordinated debt capital for Itron, will focus on forming strategic alliances and building new investor relationships to secure capital for Stay Alfred.
“Stay Alfred has earned a reputation as a great operator, which is the ultimate ingredient for mixed-use short-term rental success,” said Helmbrecht. “Maintaining operational excellence as we expand in new and existing markets will allow us to deliver exceptional value to our guests and returns for our investors.”
Working closely with the executive leadership team, Helmbrecht is committed to preserving Stay Alfred’s culture of innovation where employees are encouraged to challenge the status quo. Helmbrecht’s hire is a key part of Stay Alfred’s senior leadership build out.
“We’ve been very deliberate in building out Stay Alfred's senior leadership team due to the intricacies of our business and unique company culture," said Jordan Allen, CEO and founder of Stay Alfred. "Steve joins at a critical time as we prepare for global expansion.”
Previous key leadership team hires, include:
- Eric Anderson, Vice President of Marketing and Revenue - A pioneer in the digital marketing space, Anderson previously held executive vice president positions in the travel and educational technology sectors.
- Ralph Baard, Vice President of Operations - A seasoned industry leader, Baard previously ran operations for multiple travel companies, including Princess Cruise Lines.
- Brenda Bening, Vice President of Finance and HR - Bening was previously a financial executive for high profile telecommunication companies, including AT&T Wireless, Cingular, McCaw Cellular and Clearwire.
- Roth Fouty, Vice President of Technology - A self-professed “technology geek”, Fouty has worked in cutting-edge, enterprise software for industry leaders including Itron and Next IT.
- Tom Klaess, Senior Vice President of Property Management - This seasoned executive leadership veteran of the property management industry previously worked for Milestone Management, Laramar Communities and Archstone Communities.
- Mike Wilson, Senior Vice President of Real Estate - With deep experience in commercial real estate, commercial banking and real estate technology, Wilson’s most recent position was overseeing the commercial loan portfolio for Inland Northwest Bank, which is now part of First Interstate Bank.
"With the alternative accommodations industry continuing to grow, Steve’s hire comes at the perfect time,” said Jordan Allen. "We're ready to meet the explosion of demand for travel apartments."
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ABOUT STAY ALFRED
Stay Alfred offers upscale travel apartments in the walkable downtown neighborhoods of 33 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 give guests the convenience of an apartment. We live to offer travelers "Your place in the city." For more information or to book, visit StayAlfred.com
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