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Corporate Housing
Corporate housing is a term in the travel industry meaning renting out a furnished apartment, condo, or house on a temporary basis to individuals, military personnel, or corporations as an alternative to a traditional hotel or an extended hotel stay. According to Corporate Housing Providers Association (CHPA), the industry’s tradeorganization, corporate housing revenue was $2.36 billion in 2009 and $2.47 in 2010. The corporate housing industry has been a significant growth segment of the lodging industry for the past 20 years.
Corporate housing and extended stay hotels are two different types of accommodations.
Corporate housing typically offers larger square footage, costs less than hotels, offers full customer service, and is used for stays averaging one month or more (the average corporate housing stay is 83 days, according to the 2011 Highlands Group Corporate Housing report; more than 100 days for Managed Corporate Housing Companies and 13% of CHBO property owners report their properties were rented for a year or longer, according to the 2012 “by Owner” Annual Report).
Corporate housing provides complete temporary housing solutions within a stable residential setting unlike extended stay hotels, which are surrounded by an open parking lot and are filled entirely by transient guests.
The apartment units managed by corporate housing companies are furnished and the corporate housing companies rotate clients in and out of the furnished apartments and clean them between guests.
Somers Point
Somers Point is a city in Atlantic County, New Jersey,United States. At the 2010 United States Census, the city’s population was 10,795,[10][11][12] reflecting a decline of 819 (-7.1%) from the 11,614 counted in the 2000 Census, which had in turn increased by 398 (+3.5%) from the 11,216 counted in the 1990 Census.[21]
The City of Somers Point is in the eastern part of Atlantic County, southwest of Atlantic City.
Somers Point was once known as the Somerset Plantation and its settlement started around 1693. The Somers Mansion, with a commanding view of Somers Point’s harbor, was built in 1725. Somers Point was designated as a port of entry in 1791 and remained one until it was abolished in 1915.[22][23]
Somers Point was originally incorporated as a borough by an act of the New Jersey Legislature on April 24, 1886, from portions of Egg Harbor Township, based on the results of a referendum held five days earlier. The borough was reincorporated on April 2, 1890, based on the previous day’s referendum. Somers Point was incorporated as a city on April 9, 1902, from all of Somers Point borough and additional portions of Egg Harbor Township.[24][25] The borough was named for John Somers.[26][27]