Some businesses and corporations have executives whose job requires frequent travel between two establishments, or long periods of residence at multiple locations. For these businesses, corporate lodging can be the answer to lodging executives.
What is Corporate Lodging?
Sometimes a corporation needs to lease lodging for executives to live in while they oversee a project. Corporate lodging companies provide that solution by leasing lodging for executives or consultants to live in temporarily. It is also used by businesses as temporary lodging for relocation of their employees. Sometimes, lodging is used for executive retreats and vacations. This lodging is often provided by agencies located in the area that specialize in housing for corporations.
When is Corporate Lodging Used?
Companies whose employees need to stay in an area for 30 days or longer often find housing solutions catering to corporate needs. It is also used for employees undergoing relocation to a new state or country, so they can begin working immediately. Companies often use lodging over hotels because of their relatively low costs for providing extended lodging solutions to their employees. Housing is often acquired at the expense of the business or corporation until the employee finds permanent residence.
As opposed to hotels, lodging for corporations offers apartment or house-like living situations. Structures for lodging are either part of an apartment complex or stand-alone houses. These residences often include a fully equipped kitchen, an in-house washer/dryer and in some cases, a fully covered garage. In addition, corporate lodging is often sized to accommodate entire families or individuals comfortably; some lodging also allows pets and provide wireless internet.
Corporate lodging is often priced competitively when compared to hotel prices. Whereas a hotel room can run up to hundreds of dollars a night, the equivalent corporate lodging costs for a one-bedroom residence can amount to around $70-80 per day, or around $2,200 dollars a month. In addition, corporate lodging does not come with the tax for extended stays that hotels often charge - it is based on month-to-month payment plan.
International Corporate Housing
Many global corporations or corporations in offshore markets require temporary executive housing in foreign cities. Housing is often available in major business cities such as Tokyo, Paris, Amsterdam, Barcelona, Rome, or London. International residences come fully furnished and include an office or desk setup for employees to work from. International corporate housing often comes in the form of apartments or hotel rooms.
Corporate Lodging via Hotel Accommodations
Hotels often offer discounted housing solutions to corporations looking to place employees for an extended period of time. Corporate housing offered by hotels usually involves renting suites or rooms that include a full or partial kitchen and work place setup. Hotels that offer corporate housing also have on-site business centers for internet, fax, and printing services.
If you are being relocated to a new state for your job, or are an executive that often visits the same locations for extended stays, corporate lodging could be a comfortable cost-saving solution.