Corporate Housing Statistics

Corporate Housing Information and Performance (CHIP)
Monthly Data Reporting System

CHPA is proud to introduce the new Corporate Housing Information and Performance (CHIP) system.  CHIP is a monthly data system, available only to and supported by CHPA members, which provides monthly reporting in key metropolitan statistical areas (MSAs) in North America.

Members enter monthly data into an easy-to-use website once a month. After authentication by The Highland Group, CHIP subscribers can then retrieve timely statistical reports each month about market performance such as average daily rates (ADR), units, occupants and rent.

To access CHIP, you must have a CHPA username and password. This is a members' only benefit. Get started today!

Corporate Housing – General Industry Statistics

Partnering with The Highland Group, every year CHPA publishes the most comprehensive Annual Industry Survey report. In 2009, corporate housing responded to a deep recession across the United States by reducing inventory to sustain occupancy and margins. As a result, rate held in this segment of the lodging industry better than in any other segment. In Canada, with less recessionary impact, performance held closer to the prior year. Corporate housing was a $2.36 billion dollar industry in the United States in 2009, down 18.3% from $2.78 billion in 2008. The industry lost almost half an occupancy point and $2 (1.7%) in average rate. It shed 16.5% of its US inventory in 2009.

The unit sample represents an estimated 61% participation rate. Statistics in this report included 125 participating companies and 299 operations in the US and Canada.

By the Numbers

• Total industry revenue was $2.36 Billion in 2009.
• Average one-bedroom monthly rent is $3,450 ($115/night).
• Approximately 61,280 U.S. corporate housing units on an average day.
• Average stay in corporate housing units is 92 days.
• The Washington, DC MSA remains the largest market with 5,925 estimated units including Washington DC and its submarkets.

Corporate Housing – Canadian Statistics

Corporate housing statistics for Canada include Toronto and Calgary. Toronto is divided into Downtown and Greater Toronto Area (GTA) Suburbs this year. Vancouver is not shown this year because Vancouver operators were getting ready to host the Olympics at the time of the survey.

Canadian occupancies are slightly below the US average in 2009, as they were in 2008. They are within the range of occupancies for US MSAs however. Canadian lodging was affected by recession during this reporting period.

Average daily rates are within the range of larger US MSAs. Rates for Canada are calculated as the data is reported to us. They are not adjusted for currency value.