Archive for May, 2009

Paul Sternberg Houston Press Release

Contact: Amanda Cook

(317) 328-4631

acook@chpaonline.org

 

FOR IMMEDIATE RELEASE

AUGUST 28, 2008

CORPORATE HOUSING EXPERIENCES

BOOST WITH THE PRESIDENTIAL NATIONAL CONVENTIONS

Corporate housing providers help cities meet the needs of large scale events, partnering with other lodging

sectors to serve thousands of travelers. Members of the Corporate Housing Providers Association (CHPA)

have experienced increased sales and occupancy thanks to the presidential national conventions hosted in

Denver, Colorado and Saint Paul, Minnesota. With citywide events, there is often a lack of hotels rooms and

thousands of people expected to attend the conventions; corporate housing has answered the call for

accommodations. Organizers expect attendance for the Democratic National Convention August 25 - 28 in

Denver to reach at least 50,000. The number includes politicians, media and delegates from across the United

States.

“This opportunity has allowed the corporate housing industry to connect with other people and organizations that

it would not normally connect with,” said Kimberly Smith, AvenueWest and a member of the CHPA Board of

Directors. “The event brought many new clients to our business that could potentially turn into repeat clients

and bring new corporate accounts.” While large events like this normally bring out inexperienced entrepreneurs

who call themselves corporate housing providers, Smith stresses the importance of using a qualified corporate

housing provider, such as a member of CHPA, to ensure professionalism, ethical standards and a quality

experience.

More than 45,000 people are expected to attend the 4-day Republican National Convention in St. Paul

September 1 - 4. Local corporate housing providers have been booking accommodations for months in

anticipation of the event. Most convention attendees want to stay in a place that is more comfortable and more

like home instead of a hotel. Corporate housing is typically larger than a standard hotel room and is similar to a

furnished apartment. The accommodations have all of the necessities a guest would have at home, including

comfortable furniture and housewares.

“We have definitely seen an increase in demand for corporate apartments due to the Republican National

Convention being in the St. Paul this year. Not only have we taken many calls from travelers that traditionally

choose a hotel option, we have also assisted many of our current corporate clients with short term stays over

that week in September,” comments Jen Claude, Marriott ExecuStay. Claude also mentions the extra people in

town have resulted in early reservations. “We also experienced increased bookings in August as our clients

secured apartments sooner in anticipation of limited availability over this time period.”

After consecutive years of profits and growth, the $2.95 billion industry has proceeded with caution this year as

similar industries have struggled with the country’s economic downturn. Industry experts are tentatively

optimistic, using the conventions to promote their presence in the marketplace.

“These conventions are opportunities for corporate housing providers to increase their sales and brand, while

offering customers a great product. Large events like this always bring a large number of people who need

places to stay and illustrate the flexibility of corporate housing worldwide,” said Ned Scharpf, Corporate

Apartment Specialists and CHPA President. “We’ll be looking forward to similar opportunities in the future,

including the 2010 Winter Olympics in Vancouver.”

 

About CHPA

The Corporate Housing Providers Association (CHPA) is the only trade association dedicated to the corporate

housing industry. The Association offers networking, educational and informational opportunities to providers

and partners worldwide. For more details and membership information, please go to www.chpaonline.org

Choice Corporate Housing Inc Press Release by Direction Paul M. Sternberg Houston

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Paul Sternberg Houston Press Release

Corporate Housing Industry Experienced Growth in Revenue and Inventory in 2007

 

INDIANAPOLIS (May 1, 2008) – The Corporate Housing Providers Association (CHPA) has released its annual statistical study, Corporate Housing Industry Report – 2008, finding for the second year in a row, that the industry has experienced double digit growth in revenue.  The $2.95 billion industry posted the industry’s most profitable year on record in 2007, and is projected to gain again in 2008.  National revenues increased 20% over 2006.

 

“Corporate Housing’s growth out-paced that of other lodging segments in 2007, including increases in the average daily rate and demand,” says Ned Scharpf, CHPA President.  “These increases in addition to expanding inventory led to a successful and profitable year for corporate housing providers.”

 

The industry also saw growth in occupancy, average rate, and inventory indicating a strong demand for corporate housing.  Flexible inventory is the hallmark of corporate housing, and permits the strong 90% occupancy nationwide. Overall, the average rate was $116 in 2007, up 11.5% from the prior year. The US corporate housing market is estimated at a total of 77,799 units on an average day in 2007, up from 70,056 units in 2006.  First year numbers from the Canadian market contribute an additional 2,505 units from Toronto and Vancouver.  Corporate housing inventory gained an estimated 1.4% in 2007 and is projected to gain about the same in 2008 over 2007.

 

“This report tracks industry trends, making it a key strategic tool for providers to use in successfully managing their companies.” says Scharpf.  “This is also the first year we’ve reported on several Canadian markets; we hope to further expand this report internationally in the future.”

 

Corporate housing is fully furnished apartments with housewares, linens, utilities and other optional services with a typical minimum 30-day stay.  The average stay in 2007 was 81 days.  Corporate housing is a uniquely flexible lodging alternative for business travelers, relocating families, as well as providing temporary housing for those needing lodging for insurance purposes or long-term medical care.

 

CHPA engaged The Highland Group, an independent research firm, to conduct this comprehensive study on this important lodging sector.  The report is available for $395. Complimentary copies of the report are available to the press. For more information, please contact Peggy Berg at (404) 872 4631.

Paul Sternberg Houston Press Release

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