TORONTO, ON – While over one million adult Canadians have stayed in a temporary residence for an extended period at least once, very few of them seem to know that there are facilities better suited than a hotel for this purpose. In a recent poll undertaken by Ipsos-Reid for Premiere Executive Suites Limited, only five per cent of the target market
could name a single corporate housing provider.
“Clearly, our industry has to do a better job of creating awareness,” says Jeff Brookhouser, President of Premiere Executive Suites, Canada’s largest provider of corporate housing. “Even though we may be competing with each other for customers’, we’re fighting over a very small proportion of a potentially much larger customer base. If we can do a better job of making the market aware of our existence, then there would be plenty of business to enable all of us to succeed.”
The Ipsos-Reid poll took the pulse of over 400 respondents, who were pre-qualified to have stayed at least once in a non-family, temporary residence for at least 30 days. Their average length of stay was 63 days, and not surprisingly, the main reasons for accessing their accommodation were either a temporary work assignment or job relocation. Yet most respondents stayed in hotels for those extended stays. Apparently it wasn't by choice, but simply because they (or their companies) were unaware that there are several corporate housing providers with lower cost, larger units and more extensive services available.
“The survey indicated that the corporate housing market in Canada could see huge growth, if the target market were aware of the corporate housing alternative,”
According to the latest figures available, corporate housing has become a $360 million business in Canada, but the Ipsos-Reid survey indicates that the potential market is close to three times that size. The benefits of corporate housing versus hotel accommodation are such that many corporate clients, and individuals, become repeat clients once they've tasted the experience, says Mr. Brookhouser. The challenge is getting to all the potential new clients, particularly at the time they’re looking for such a service.
For more information:
Director Brand Development
Premiere Executive Suites Limited
77 City Center Drive, East Tower, Suite 501
Mississauga, Ontario L5B 1M5