Corporate Housing Industry Experienced Growth in Revenue and Inventory in 2007

Date: May 2 2008
Source: HotelInteractive.com
Website: http://www.hotelinteractive.com/hi_index.asp?page_id=5000&article_id=10471

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 highest revenue 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 the lodging industry in 2007, including increases in the average daily rate and demand,” says Ned Scharpf, CHPA President.