Project Description
In the largest deal of its kind, Spokane-based Stay Alfred, a national boutique hospitality brand, has forged an unprecedented 10-year partnership with Tony Giarratana and his partners in the renowned developer’s 45-story 505 tower in the heart of downtown Nashville.
Stay Alfred’s revolutionary and flexible business model bolsters the financial success of developers’ projects – by master leasing large blocks of residential towers and full residential apartment buildings on a long-term basis while shovels are still in the ground. The hospitality brand then converts the units into newly-decorated short-term rental units that they manage 24/7.
This unique approach not only secures considerable leasing and occupancy for commercial developers, but also offers an authentic travel experience increasingly demanded in the industry with the opportunity to stay in luxury properties in the most sought-after urban neighborhoods alongside city locals.