Archive for the 'Rental Market' Category

Corporate Housing and the Economy: The Facts and Figures

It is safe to say that the corporate housing industry has prevailed through the weak housing market and economic recession. The Corporate Housing Industry Report reported that in 2008 the average daily rate of corporate housing was up 1.2 percent. Although occupancy rates in 2008 dropped slightly to 88.5 percent from 89.7 percent in 2007, the drop did not affect the overall industry. The report also revealed that markets with the greatest growth in corporate housing, include Washington, D.C. , Los Angeles, St. Louis, Houston, and Boston. To delve deeper into how corporate housing has been affected by the economy, check out “Corporate Relocation Responds to the Economy.” The article reveals some interesting aspects of the corporate housing market through an interview between writer Marylyn Schwartz and Jan Hatfield-Goldman, Vice President of Research and Education for Worldwide Employee Relocation Council.

Corporate Apartments: The Best Choice for Business Travelers

“Is 2009 the year of the apartment?” asks a recent blog post. The answer is simple: yes. With more and more corporate travelers cutting back on costs, corporate housing apartments are less expensive and more comfortable than hotels. Corporate apartments are “20-40% cheaper compared to hotels” and they offer “fully equipped kitchen with self-catering facilities, various bedroom choices, lounge and relaxation areas,” writes blogger Mark Ashley.

Compared to Extended-Stay Hotels Corporate Housing Offers:
 Cheaper temporary housing                                                    
 Apartments and townhomes with more square footage                            
 A like-home feel in a residential environment                                      
 Many more amenities, such as housekeeping and full-kitchens                             
 Safety with 24-hour security

Forbes also praises corporate housing over extended-stay hotels for business travelers. “Corporate housing…furnished homes or apartments with kitchens, living areas and often at least twice the square footage of a regular hotel room. Corporate housing is a $2.8 billion business in the U.S, spanning nearly 80,000 units, mainly clustered around larger cities,” writes the Smart Shelter author Miriam Marcus. Are you a corporate/business traveler looking for temporary, fully-furnished housing in one of the nation’s major cities? Check out Churchill’s listings in major cities Nationwide, including Washington, D.C., Boston, and Philadelphia.