Source: The Corporate Housing Industry Report - 2017
US corporate housing Average Daily Rate was $150 in 2016. The majority of individual MSAs reported an increase of ADR growth in 2016. 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 sixth successive year, relocation was the largest reason for using corporate housing in the US, with project/training as the second largest reason. These two groups account for over 60% of the market. The technology and healthcare sectors generate the most demand for corporate housing by industry.
For more comprehensive statistics, visit the member resource center and watch the 2017 Industry Statistics video.
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.