Industry Benchmark
By Mark Harris
Regional Analysis
USA
Source: The Highland Group
| | Properties | 2006 | 2007 |
| Total USA | 82 | 77 | 81 |
| Boston | 85 | 79 | 76 |
| Chicago | 89 | 68 | 85 |
| Denver | 89 | 71 | 82 |
| Minneapolis | 76 | 61 | 76 |
| Northern New Jersey | 79 | 79 | 89 |
| Philadelphia | 81 | 91 | 77 |
| San Francisco | 108 | 77 | 76 |
| Seattle | 63 | 59 | 56 |
| Washington DC | 99 | 110 | 86 |
Source: The Highland Group
In 2007, occupancy in the US corporate
housing industry was 90% and has been
holding at or close to this level for some
time.
Source: Corporate Housing Providers
Association [CHPA] Corporate Housing Industry
Report 2008. Nationally, the average stay
in a corporate housing unit was 81 days
in 2007.
Accor's Studio 6 brand currently flags
910 hotels (92,000 rooms) in the USA
and Canada, whereas Choice pursues a
multibrand strategy with its Comfort
Suites, MainStay Suites and Suburban
brands.
More than 220 Homewood Suites
properties, totalling more than 20,000
suites, are operated by Hilton in the USA.
Summerfield Suites was originally
operated by Wyndham and was acquired
by Hyatt in 2006. By March 2008,
30 Summerfield Suites are in operation
and will shortly be joined by Hawthorn
Suites who are being re-branded.
Starwood launched its Element brand in
Lexington, Massachusetts, in early 2008.
Marriott International's Executive
Apartments are an extended stay
pioneer, with a handful of successful
properties in European capitals. In many
instances, the apartment building is
adjacent to a Marriott-operated hotel.
Marriott operates two other extended
stay brands in the USA; Residence Inn
and TownePlace Suites.
Source: HVS A Home
for the Modern Nomad
In 2007 The Lightstone Group paid
The Blackstone Group $8 million for
Extended Stay Hotels, which owns 683
properties in 44 states and Canada
operating fewer than five brands:
Extended Stay DeLuxe, Extended Stay
America, Homestead Suite Studios,
StudioPlus and Crossland.