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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.
Valley Park
Valley Park is a city in St. Louis County, Missouri, United States. The population was 6,942 at the 2010 census.[6]
Descendants of the Mississippian culture still had a settlement along the Meramec River in the mid-18th century, until the Native Americans were pushed out by colonial French and German immigrant farmers in the 1760s.{{citation needed|date=May 2017}] The developing village over time was known as Nasby, Sulphur Springs, Quinette, Meramec, and finally Valley Park by around 1890. It had one of the first post offices established in St. Louis County. It developed as a railroad hub for the Missouri Pacific and St. Louis-San Francisco rail lines.
In 1894, the town became the site of the first lynching in St. Louis County. A black man named John Buckner was lynched when accused of raping a local black woman and a white teenager. He was taken from the authorities by several local residents and farmers and hanged from the main bridge in town overlooking the Meramec River. The lynchers were never prosecuted.