• 
  Like
• 
  Follow

Search news    

---

Hotels offering luxury apartments for transplanted execs

August 5, 2010 - Often, when an executive's company has relocated to a different part of the country, they must make the move, too.

Finding a new home to live in can be difficult, so many are forced to find accommodations through hotels or other temporary living arrangements. One traditional business sector has been catering to that market for years, although their client base is switching. The Washington Post reported that a handful of major hotel chains, including the Marriott, lease luxury apartments in residential buildings for transplanted executives who desire a comfortable living space with the services of a hotel room, like housecleaning. People can rent these apartments on short-term leases until they find more permanent housing.

Relocating professionals have traditionally been this sector's biggest customer, although many workers who are in cities on temporary assignments with their companies are taking over the business. Most beneficial for the hotel companies is the fact that the business is flexible, and they can increase or decrease their rental supply to meet demand. That allows them to offer more units during the height of relocation season and then scale back when necessary.

Overall, rental demand has heated up in the wake of the housing market's struggles.

Recent Articles

Related Categories