Source: The Corporate Housing Industry Report - 2016
US corporate housing Average Daily Rate 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.
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.