New York: U.S.-based short-term apartment rental operator CorpHousing Group has announced it has officially launched.
The rental operator prioritises assembling and managing proprietary “Class A” multi-family real estate properties throughout the United States. For the past 18 months, the company has undergone a strategic growth period, in which it scaled up a portfolio of short-term vacation and corporate travel accommodations in a number of competitive, high-density markets.
The current active markets that CorpHousing Group is operating in include Washington D.C., Miami, Columbus, Nashville and Denver, and plans are already in place for it to be active in up to 11 cities by the end of the year. The company’s exclusive inventory is marketed to consumers through SoBeNY, a hospitality platform that serves business and leisure travellers who are seeking a short-term alternative to hotel stays in major metropolitan markets.
Since 2017, CorpHousing Group has been building a portfolio through a unique assemblage model. By securing key alliances with leading multi-family advisors, developers and property owners, the company is engaging in long-term and master lease agreements to provide an exclusive inventory of standardised, high-quality rental products.
CorpHousing Group managing partner Brian Ferdinand said: “Our strategic alliances with key market investment groups allow us to provide a highly-curated product that is aligned with the demands of the modern-day traveller and business executive.
“These partnerships, combined with the company’s approach of standardising assets to ensure optimal quality and operational infrastructure, have made us a lucrative business partner to multifamily developers looking to increase and diversify revenue generation,” he added.
The global vacation rental market has rapidly become one of the fastest-growing hospitality sectors in the world.
Market research company Technavio estimates that the industry will reach $193.89 billion in value by 2021. The reasons for such a positive outlook come down to the rise in sharing economy, expansion of online distribution and increased investment in vacation rental properties.
CorpHousing Group is headquartered in New York, with corporate offices in Miami and Nashville.
For more information, visit the CorpHousing Group website here.