Stay Alfred founder and CEO Jordan Allen has been named an EY Entrepreneur of the Year in the Pacific Northwest region.
Allen, who was recognized in the Consumer Service category, joins seven other such award winners in the region who were announced at a gala Friday at the King Street Ballroom and Perch in Seattle. The award winners were selected by a panel of judges consisting of CEOs, investors and regional business leaders.
Allen, a West Valley High School graduate and former Army Ranger, founded Stay Alfred in 2011, popularizing the concept of travel apartments in city centers. The startup has since grown to offer 2,500 apartments with hotel-style amenities in 33 cities.
Allen said it was an honor to be named an Entrepreneur of the Year in the Pacific Northwest, which he says puts Stay Alfred on the map among consumer technology companies from Seattle and Portland.
“We were the only company with representation from Spokane. We have unbelievable talent here and we got recognized for it,” he said. “I was shocked to get nominated for (the award), and I was definitely excited to win an award like that.”
Allen said receiving the award is a testament to the vision and hard work of the Stay Alfred team over the past eight years. The company, which launched in a 300-square-foot office in downtown Spokane with three employees, is has since expanded to a 45,000-square-foot campus in Spokane Valley with more than 300 employees.
The company intends to fill 100 more positions by the end of the year, Allen said.
Stay Alfred raised $47 million in venture capital funding last year from Nine Four Ventures, a Chicago-based real estate company. The company plans to use the capital to expand its footprint into the European market and add more than 4,000 units this year.
The Entrepreneur of the Year awards, launched in 1986 by Ernst & Young, a professional services firm, and recognizes business leaders excelling in areas such as innovation, financial performance and commitment to their communities. The firm describes it as “the world’s most prestigious business awards program for entrepreneurs.”
“This recognition proves that with dedication, great work culture and strong leadership, you can cultivate an industry-leading organization in any market,” said Steve Helmbrecht, Stay Alfred’s president and CFO. “Stay Alfred’s humble origins and hardworking, heads-down rigor are etched into the company’s DNA. It comes from the top.”
The program has recognized more than 10,000 business leaders in more than 145 cities, including Howard Schultz of Starbucks Coffee Company, John Mackey of Whole Foods Market and Pierre Omidyar of eBay Inc.
Regional award winners will be considered for the Entrepreneur of the Year national awards in several categories – including an overall national award winner – which will be announced Nov. 16 in Palm Springs, California.
Subscribe to the Coronavirus newsletter
Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.