Like many hospitality companies, Stay Alfred stopped renting properties once COVID-19 reached U.S.
“If we were doing this again, we would’ve looked to have owned more buildings,” he says. In retrospect, Allen says, the rental aspect exposed a “fundamental crack” in the business model. The experience kickstarted the idea to start a short-term rental company. He found a condominium to accommodate friends and family just blocks from Coors Field. Army from 2005 to 2012, told the Journal in 2015 that while on two weeks’ leave from serving in Afghanistan, he searched for lodging in downtown Denver during a visit to watch the Colorado Rockies baseball team. The company used a variety of websites to advertise the rentals.Īllen, who served in the U.S. Stay Alfred managed vacation rental properties for owners in exchange for a commission fee. “We were trying to sell off assets, but there just aren’t a lot of buyers out there,” he says. 1 as the date travelers could begin booking with the company again.Īllen says the last two weeks revealed that goal wouldn’t be attainable. The company topped the $100 million mark in revenue in 2019, up from $66.5 million in 2018, and $25.2 million in 2016, as previously reported by the Journal.Įarlier this month, a Stay Alfred spokeswoman told the Journal the company planned to continue operating but would do so with a reduced staff and smaller national footprint of units. “It’s amazing to think that a $100 million company in Spokane, Washington, could be wiped out by a virus from Wuhan, China.” And now, it’s over,” says Allen, who was a Journal of Business Rising Star in 2016. “At one point, we were a $100 million company. As recently as early March, Allen and his leadership team were meeting with investors in attempts to secure a round of funding that would have generated up to $30 million, he says. The only thing that exceeds the 8-year-old company’s meteoric rise is its precipitous fall. “My heart’s broken in a lot of ways,” Allen told the Journal in a videoconference interview on Wednesday, May 20. For those wishing, donations may be made in his memory to Quaboag Valley Hospice, 44B Wright St, Palmer, MA 01069.Stay Alfred Inc., a one-time darling of Spokane’s entrepreneurial ecosystem, is closing its doors permanently, says Jordan Allen, founder and CEO of the short-term rental company.Īllen says the company couldn’t stay afloat after the coronavirus pandemic-and resulting travel bans-abruptly stopped the company’s ability to generate revenue and new investor interest dissipated. Calling hours are Monday from 6:00 – 8:00 p.m. at the Massachusetts Veteran’s Memorial Cemetery in Agawam. Burial with military honors will be at 1:00 p.m. followed by a liturgy of Christian burial at 11:00 a.m. Funeral services will be Tuesday from the Beers & Story Belchertown Funeral Home, 10 Maple St., (Rte. Besides his parents, he was predeceased by a daughter Sandra Provost in 1993. He also leaves his two sisters Ada Lawler of Springfield and Jeanne Paradise of Belchertown. He will be deeply missed by his wife of nearly 60 years, Helen (Babcock) Lamothe, along with his son Steven and his wife Lisa of Palmer, a son in law Raymond Provost of Westfield, and six grandchildren and three great grandchildren. Francis Church and a member of the Knights of Columbus. While living in Belchertown, Al was a communicant of St. He received the Bronze Star and two purple hearts and was discharged as a Corporal. Lamothe was a proud veteran who served his country during WWII in the Army as a paratrooper. He was a maintenance man at Agawam Public Schools for many years before retiring in 1984.
He grew up in Springfield and later lived in Agawam for many years before moving to Belchertown in 1984. Born in Springfield, July 10, 1922, he was the son of the late Alfred and Evelyn (Gervais) Lamothe. Lamothe, 83, of Chauncey Walker St, died Friday, Jan.
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