The Corporate Housing Providers Association (CHPA) released its industry report for 2010 and things look good. In this report you will see that total industry revenue was $2.36 Billion in 2009. While the industry reduced its inventory by 16% in 2009, occupancy for corporate housing held at 88% and had an average rate for a one-bedroom of $115 a night. Also reported was the average stay, which for 2009 was 92 days, great compared to the average 80 days in 2008. You can find this information on this report on the Corporate Housing Providers Association website.
What is Corporate Housing? Corporate housing can also be referred to as temporary apartments, temporary housing, short term housing, furnished apartments and/or serviced apartments. This lodging choice offers fully furnished residential living with housewares, linens, utilities and other optional services with a typical minimum 30-day stay.
More great news: The Corporate Housing industry will actually be spotlighted on the upcoming Celebrity Apprentice this Sunday, May 9th at 9pm EST. BridgeStreet, President and CEO, Lee Curtis, CCHP will help Donald Trump and his advisors select the winning team in the upcoming episode titled “Suite Deal”.
BridgeStreet is a client of CorporateHousing.com and we’d like to say CONGRATS to BridgeStreet!! To view their corporate housing solutions, visit BridgeStreet Worldwide.