Industry Information  

 

Industry Statistics

Source: The Corporate Housing Industry Report - 2016

US corporate housing ADR was $143 in 2015. The majority of individual MSAs reported an increase of ADR growth in 2015. The few markets that reported declines in ADR were the result of an increase in lower priced options available. The demand for corporate housing has steadily increased as residential apartment construction introduced new units to the market, allowing corporate housing providers to accommodate demand.

For the fifth successive year, relocation was the largest reason for using corporate housing in the US. The use of corporate housing by interns was cited as the second largest reason for corporate housing. These two groups account for over 60% of the market. The technology and oil and gas sectors generate the most demand for corporate housing.

Key 2016 stats:

  • US corporate housing revenues were $2.93 billion in 2015, a 7% increase over 2014.
  • Per survey respondents, US corporate housing inventory is estimated at over 63,000 rental units while Canada adds approximately another 7,000 rental units.
  • The average stay in the US was 84 nights in 2015.
  • Occupancy in the US has remained stable at 88.1%.
  • Relocation continues to be the main reason for client stays in the US while project and training accounts for the majority of stays in Canada.
  • Overall, US corporate housing average daily rate (ADR) was $143 in 2015, a 4.1% increase. ADR in Canada is estimated at $128.

Please visit the CHPA Canadian Website for Canadian specific data.

 

 

For a complete copy of the Corporate Housing Industry Report, order here.  This report is complimentary to media representatives. The report summarizes a total of fifty-five US markets and five markets in Canada. Each market is specifically and individually highlighted.

 
Blog

BLOG

Get in the know by checking out the CHPA blog.

View Blog
Events

EVENTS

More Events
Polls

POLLS

How aware are you about legislative issues that may impact your business?  Very Aware  Somewhat Aware  Unaware and Want to Know More  Not Interested/Indifferent
Connect

BE THE FIRST TO KNOW!

Subscribe to our Email Updates.