Furnished Quarters Reports 30% in Revenue Growth for Summer Season
Sep 30, 2014 07:21 AM
(New York, NY) September 30, 2014 – Furnished Quarters, the largest provider of temporary furnished apartments in New York City and Boston, today announced new figures that demonstrate record revenue growth over the last three years. The company’s revenue for the summer months—June, July, and August—has steadily increased by nearly 30 percent since 2012. These summer months represent the highest occupancy time of the year for the company.
Average unit count for Furnished Quarters’ properties increased more than 21 percent when comparing the summer months of 2014 to the same period in 2012. Combined with growth in the average daily rate (ADR), these factors pushed the company’s revenue performance significantly upward during this three-year span.
“These exciting numbers show that we’ve increased our performance growth through a dramatic jump in revenue,” said Steve Brown, CEO of Furnished Quarters. “We’ve added hundreds of incredible properties over the past few years, and our unprecedented increase in revenue is an outcome of that strategy.”
In addition to escalations in unit count and ADR, Furnished Quarters also saw increases in occupancy and revenue per available room (RevPAR) over this time period. On average, the company continues to experience more than 94 percent occupancy in its properties during the summer’s busy travel season.
About Furnished Quarters
Furnished Quarters is an independently owned and operated provider of stylishly designed and fully equipped temporary furnished apartment rentals, both nationally and globally, and the largest provider of temporary furnished housing in New York City and Boston. Furnished Quarters also provides a diverse portfolio of temporary furnished apartments in New Jersey, White Plains, and Connecticut. Established in 1998, Furnished Quarters is a founding member of GO Furnished Housing Providers, a consortium of best-in-class temporary housing companies offering one-call access to apartments worldwide. For more information visit www.furnishedquarters.com.
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