Corporate Travel Demand Sparks Expansion of Real Estate and Residential Lodging Services

This type of lodging is more than just a place to stay; it is a much-needed service provided for employees experiencing a training or transition.

AvenueWest Global Franchise, the largest provider of managed corporate housing in the United States, announces the expansion of AvenueWest Arizona which will now locally service Phoenix, Scottsdale and Tucson.  By expanding into additional cities AvenueWest Arizona will be able to better serve the needs of Arizona’s bigger employers.

AvenueWest Arizona is owned and managed by Meghan and Mark Vost who have been providing unparalleled service and exclusive furnished corporate housing properties throughout Phoenix since 2013.  “Meghan and Mark are an exceptional team with a strong background in investment real estate and hospitality.  AvenueWest Global is excited to have such an experienced management group leading the expansion of AvenueWest into these new markets,” stated Angela Healy the CEO of AvenueWest Global.

In today’s world of high demand residential lodging solutions for business travelers, AvenueWest Managed Corporate Housing continues to offer its award-winning real estate solutions that travelers and investors have relied on for over 20 years.  Corporate Housing as a residential lodging solution is a multi-billion dollar industry that has been available to business travelers for decades.  Traditional corporations, as part of their business travel policies, do not allow their employees to stay in individual Airbnb rentals.  Business travelers need the service, quality and security offered through a professionally managed corporate housing property. 

According to CHPA / Corporate Housing Providers Association, “This type of lodging is more than just a place to stay; it is a much-needed service provided for employees experiencing a training or transition. It in turn helps employers achieve their business goals by cultivating more engaged and focused employees. It is estimated that the annual collective U.S. domestic employee transfer volume for Fortune 500 companies is 244,595.”  As businesses expand and require specific talent, they rely on AvenueWest to meet the housing needs of their employees.  The average AvenueWest tenant stays over 100 days.  These furnished rentals are a true home away from home.

The AvenueWest Managed Corporate Housing real estate model allows private investors to connect their rental properties with business travelers.  AvenueWest Arizona is seeing an increasing trend of out of state investors purchasing their retirement properties earlier than needed and then renting them to business travelers.  Through investing in real estate today these savvy investors are taking advantage of the still low interest rates and will have the peace of mind knowing exactly what their lodging expenses will be in the future.

AvenueWest Arizona continues to be a thriving business that not only provides property management services to owners of furnished homes being offered for rent, but also provides high-quality short-term rental properties to those in need of temporary housing. Meghan says her ideal clients include traveling business executives, visiting medical professionals, government contractors and insurance companies in need of furnished homes for their displaced clients. 

The backbone of AvenueWest Arizona though, says Vost, is the AvenueWest business model and corporate support team. “We are excited about the opportunity to better service our larger employers, and in doing so better serve our current property owners in Phoenix and Scottsdale. We’ve had exposure and high-quality inventory in these markets for a long time. This will allow us to leverage Scottsdale as the stand alone destination market it is. This enhancement, along with expanding our managed properties in the Tucson area, will help us meet the needs of the varied client base we serve.” 

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