Travelers, relocating execs can bunk in luxury hotel rentals

In the past, wandering travelers had to book a room at a cheap motel when they were in another city for work.

That's no longer the case. Whether they're relocating to a new area of the country for a new job, or just passing through a city on assignment, a person can find short-term luxury rentals in corporate housing suites, reported the Washington Post. This burgeoning sector of real estate caters to executives who are away from home and want a larger space to stay in for a short amount of time. Major hotel chains like the Marriott offer leases on these apartments for as little as 30 days, said the Post.

About 9.7 percent of the nation's corporate housing units are located in Washington, D.C.'s metropolitan area, said the Post, citing data from Highland Group Hotel Investment Advisors. "You might drive by one of the nicest high rises in D.C. or Falls Church and 5 percent to 10 percent of that building might be corporate housing," consultant Elaine Quiroz told the paper.

Renting an apartment on a short-term lease can give relocated executives time to look for and buy a more permanent residence.


More News