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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.
Odessa
Odessa /ˌoʊˈdɛsə/ is a city in and the county seat of Ector County, Texas, United States. It is located primarily in Ector County, although a small portion of the city extends into Midland County.[3] Odessa’s population was 118,918 at the 2010 census making it the 29th-most populous city in Texas; estimates as of July 2015 indicate a population of 159,436 in the city.[4] It is the principal city of the Odessa Metropolitan Statistical Area, which includes all of Ector County. The metropolitan area is also a component of the larger Midland–Odessa combined statistical area, which had a 2010 census population of 278,801; a recent report from the United States Census Bureau estimates that the combined population as of July 2015 is 320,513.[4][5] In 2014, Forbes magazine ranked Odessa as the third fastest-growing small city in the United States.[6]
Odessa was founded in 1881 as a water stop and cattle-shipping point on the Texas and Pacific Railway. The first post office opened in 1885. Odessa became the county seat of Ector County in 1891 when the county was first organized. It was incorporated as a city in 1927, after oil was discovered in Ector County on the Connell Ranch southwest of Odessa.[8]