What is corporate housing?

Corporate housing is defined as a furnished apartment, condominium or house made available for rent or let on a temporary basis, primarily for 30 days or more. Corporate Housing typically includes the following features: Furniture, full kitchen, private bath, linens, housewares, electronics and utilities.

Typical corporate housing unit is:

• Fully furnished and equipped studio, one, two and three bedroom apartments.
• Well maintained properties providing residential living.
• Many convenient locations in and around major metropolitan areas.
• Double the square footage of hotel rooms and suite hotels.
• More cost-effective for companies for long-term housing needs.

What is the corporate housing industry?

Corporate housing industry is a segment of the lodging industry that provides products, services and support of furnished, temporary housing.

Who is a corporate housing provider?

A corporate housing provider is a business that receives direct compensation for providing corporate housing, as defined.

Size of Industry

History
The corporate housing industry has been a significant growth segment of the lodging industry for the past 20 years.

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.
  
  

Serving All Industries
Industries served include government, consulting, healthcare, insurance, engineering, relocation, information technology, financial, and many others.

Serving All Needs

• Business travelers
• Relocating families
• Temporary real estate needs
• Insurance displacement

Source: The Highland Group Corporate Housing Industry Report 2010

Corporate Housing Industry Report - 2010
Just released in March 2010, the Corporate Housing Industry Report 2010 is the most comprehensive source of annual information on corporate housing. Click here for more detailed information. This report is available for only $395. To place your order, contact Connie Atkinson at The Highland Group.

Corporate Housing Industry Mid-Year Report - 2009
The newly released statistical update, Corporate Housing Industry Mid-Year Report – 2009, provides current data on critical industry factors such as available and occupied units, occupancy and average rates.  The Mid-Year Report details essential information that allows providers to make better daily business and strategic growth decisions to run their companies profitably.

CHPA engaged The Highland Group, an independent research firm, to conduct this comprehensive study on this important lodging sector. Contact Amanda Cook at (317) 328-4631 to purchase your copy of the Mid-Year Report.