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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.
Capitola
Capitola is a city in Santa Cruz County, California, United States, on the coast of Monterey Bay. The population was 9,918 at the 2010 census.
The original settlement now known as Capitola grew out of what was then called Soquel Landing. Soquel Landing got its name from a wharf located at the mouth of Soquel Creek. This wharf, which dates back to the 1850s, served as an outlet for the produce and lumber grown in the interior. In 1865, Captain John Pope Davenport, a whaleman at Monterey, moved his operations to be near the wharf. Unable to capture any whales, he moved his operations the following year to Point Año Nuevo.[4][5]
In 1869, Frederick A. Hihn, who owned the property in the vicinity of the wharf, decided to develop it as a seaside resort. At first he leased the area to Samuel A. Hall and the area became known as Camp Capitola. Most authorities believe that it was Hihn who chose the name of Capitola, but they are unsure as to why he did so. Several possibilities have been asserted, one being that it was named for the heroine of The Hidden Hand, a novel by the popular author E.D.E.N. Southworth, favored by Hall’s daughter Lulu. Capitola is known as the oldest beach resort on the West Coast.[6]
Capitola is a popular tourist town because of its trendy shops and restaurants on the shore directly connecting to a fishing wharf and its large, sandy beach.
Capitola lies west of the census-designated area of Aptos and east of the census-designated place of Live Oak.