Our team recently attended the Corporate Housing Provider’s Association Annual Conference and we wanted to share two bits of interesting data and information we gained, literally hot off the press!
First, we learned that later this month the annual 2011 Corporate Housing Industry Report will be released. We got a sneak peak of the findings at the conference. The good news is that the corporate housing industry is poised to continue to grow.
- Size of the corporate housing industry = $2.49 billion (up from $2.47 billion in 2010)
- Number off corporate housing rental units in 2011 = 62,204
- Average Occupancy Rate = 89%
- Average Daily Rate = $127.01
- Client segments: 29% Relocation, 14% Government/Military, 5% Insurance & Emergency, 21% Project/Training, 5% Interns, 26% Other
The second interesting tidbit of data we learned came from eBay, whose head of HR served as the opening speaker and who offered us a rare glimpse into the perspective of a corporate housing “corporate” client.
Last year, eBay spent $6 million dollars on corporate housing in connection to relocating 1,068 employees. It further spent $1,840,000 on corporate housing not related to relocation, a figure which was up from $786,000 in 2010.
In 2010, eBay used 17 different corporate housing providers. In 2011, the company reduced that to number to nine (9) providers. In 2011, eBay had 10,000 new hires – in 2012 the company predicts 14,000 hires.
We hope you enjoyed these interesting stats and tidbits of information we took away from the CHPA Conference. If you’re a corporate housing provider – perhaps you’ll join us there next year!