Corporations with regional offices often have personnel from other areas attend meetings, special events, and conferences. Whether one or more individuals are visiting from out of town, it’s important to have a comfortable place for them to stay for the duration. While reserving hotel rooms for personnel may have been the norm in years past, there is a growing preference and demand for corporate housing.
A Brief Overview of Corporate Apartments and Occupancy
In addition to personnel attending meetings and other corporate events, relocation is one of the more common reasons for individuals to need corporate housing. A recent survey indicated that this was the case for 40% of the participants. Even though corporate housing occupancy was slightly down at 87.2% in 2016, this was still 12.5% higher than four years previously in 2012. Since 2016, it’s important to note that the U.S. corporate housing industry has experienced growth for the fourth year in a row.
Contact a Representative to Locate the Best Corporate Apartments
Whether your company needs long or short term furnished apartments to house personnel, it makes sense to lease these rather than expend additional funds for hotels. When you consider that the national average length of stay in corporate housing is 84 days, hotel bills can add up. As recently as 2015, for example, Statista.com reported that hotels cost an average of $120.01 per day. When you multiply this figure by 84, there’s an excellent chance that the result will inspire you to locate a more reasonable price. Currently, the average daily rate for many hotel chains may be considerably higher.
If you expect to have upper management and other types of personnel visiting your region on a regular basis, or if you’re expecting an employee that is relocating, you may want to consider the benefits of having an ongoing lease for corporate apartments. Another benefit of doing so is when special events or emergency meetings need to be called. When you already have a comfortable apartment for these individuals to stay, it can eliminate the need for making last-minute arrangements.
Once you consult with a corporate apartment representative, you will be able to learn more about what’s available. At this time, you will also be able to discuss projected length-of-stay, rates, and other relevant information. As aforementioned, there is a growing preference and demand for corporate housing. When you lease corporate apartments for your personnel, you will be able to experience the benefits first-hand.