(New York, NY) August 16, 2022 – Corporate housing provider Furnished Quarters is pleased to report sustained growth and a substantial increase in demand for short-term furnished housing solutions. Currently exceeding pre-pandemic levels, this exciting milestone directly reflects the sharp rebound in business and personal travel in the 30+day accommodation category. These astounding July results included record-breaking occupancy, ADR, and RevPAR, which garnered the highest reported in the company’s 24-year history. Company leadership expects this level of growth to continue throughout Q3 and into the early part of Q4.
“The Covid-19 pandemic presented our industry with unprecedented challenges, and we focused much of the last year on enhancing our company to ensure we were well-positioned when demand rebounded. So far, we have surpassed our 2022 forecasts, and with occupancy this high, we have been laser-focused on securing new inventory to ensure our longstanding clients have a multitude of housing options. Given the low inventory-high rent conditions, this has been no simple task in the current environment; however, we are faring quite well thanks to our longstanding relationships with major national real estate developers,” said CEO Steve Brown. As a result, we have successfully added new inventory throughout Manhattan, Brooklyn, and Jersey City this year.
We recognize that our unmatched housing inventory in New York City and the surrounding metropolitan area remains a key reason why people choose to partner with Furnished Quarters for their short-term housing needs. To ensure that clients and guests experience the same exceptional service we have proudly built over the past 24 years, we have also increased our headcount by over 22% and have specifically bolstered our operations, in-house technology, and Global Solutions teams to meet the dynamic needs of today’s travelers. In particular, our new Global Team hires are strategically located throughout the Americas and EMEA regions to serve our wide range of clients. With our overall global business up 35% YOY, we look forward to continuing the expansion of this segment as we move into 2023.
Launched over ten years ago, our unique Global Solutions service offers highly-customized furnished housing in all destinations worldwide, including the Americas, EMEA, and APAC. Our specialized offering focuses on convenience and accountability, thus allowing clients to quickly scale their programs with our integrated guest service, accounting, and reservation management systems. For more on the company’s global capabilities, please visit our business solutions section on our website.
Furnished Quarters is the premier supplier of short-term housing and an accredited LGBTQ+ diverse, privately owned, and operated company. Currently, in our 25th year of business, we have proudly built an all-inclusive housing solution focused on innovative technology, operational excellence, a service-first approach, and a remarkable variety of housing inventory. By harnessing the power of our people, we offer our guests the opportunity to “Stay Different” through a wide range of concierge-style services and experiences. With our Global Headquarters in New York City and regional offices in Boston, San Francisco, and London, we deliver and service our clients’ needs across the globe.