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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.
Midland
Midland is a city in the U.S. state of Michigan in the Tri-Cities region of Central Michigan. It is the county seat of Midland County.[7] The city’s population was 41,863 as of the 2010 census. It is the principal city of the Midland Micropolitan Statistical Area, part of the larger Saginaw-Midland-Bay City Combined Statistical Area. In 2010, Midland was named the no. 4 Best Small City to raise a family in by Forbes magazine.[8]
By the late 1820s, Midland was established as a fur trading post of the American Fur Company supervised by the post at Saginaw. Here agents purchased furs from Ojibwe trappers. The Campau family of Detroit operated an independent trading post at this location in the late 1820s.[9]
The Dow Chemical Company was founded in Midland in 1897, and its world headquarters are still located there. Through the influence of a Dow Chemical plant opening in Handa, Aichi, Japan, Midland and Handa have become sister cities.[10] The Dow Corning Corporation and Chemical Bank are also headquartered in Midland.
In 1969 the city unilaterally defined a Midland Urban Growth Area (MUGA), which at the time was a territory two-miles around the city limits of Midland in an attempt to control urban sprawl. [11] The central policy was that as the only capable supplier of drinking water, the city would provide water services to commnities outside the MUGA such as the nearby village of Sanford, but would not provide to water services to the area within the MUGA without annexation to the city of Midland thus controlling most of the growth in the county. Since 1991 however, the policy has since been revised with a series of Urban Cooperation Act Agreements with surrounding townships which has allowed case-by-case redrawings of the MUGA line to allow Midland to sell water to the surrounding townships without annexation.[11]