Marriott ExecuStay
Encyclopedia
Marriott ExecuStay, a division of the Marriott International
hotel chain, is a provider of temporary, furnished, corporate relocation and insurance housing solutions for stays of 30 days or longer. Marriott ExecuStay is located in 45 regions in the United States
and maintains over 6,000 temporary homes.
As part of the Marriott family, ExecuStay participates in the Marriott Rewards
program, allowing members staying at any ExecuStay location to earn points or frequent flyer miles pursuant to the terms of membership. J.W. Marriott, Jr.
is the Chairman & Chief Executive Officer of Marriott International. Adam Sherer is the Brand Vice President for ExecuStay.
Between 1999 2002, under David Lorenzo
(first as vice-president, later general manager), the annual revenue of ExecuStay increased from $1 million to more than $50 million in less than 3 years. Despite the context of a tight housing market, in less than two years, he managed to increase the division’s available apartments from 180 to 800 units. He also expanded the geographic coverage of ExecuStay into nearby Connecticut
, New Jersey
, Westchester
, and Long Island
, in a time when the concept of corporate housing was considered a feature of Manhattan
's real estate market.
Marriott International
Marriott International, Inc. is a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by son J.W. Marriott, Jr...
hotel chain, is a provider of temporary, furnished, corporate relocation and insurance housing solutions for stays of 30 days or longer. Marriott ExecuStay is located in 45 regions in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and maintains over 6,000 temporary homes.
As part of the Marriott family, ExecuStay participates in the Marriott Rewards
Marriott Rewards
Marriott Rewards is the loyalty program offered by Marriott International, Inc. It allows members to earn reward points or airline miles by staying at participating Marriott brand hotels, in addition to other membership benefits...
program, allowing members staying at any ExecuStay location to earn points or frequent flyer miles pursuant to the terms of membership. J.W. Marriott, Jr.
J.W. Marriott, Jr.
John Willard "Bill" Marriott, Jr. is the Chairman and CEO of Marriott International.-Biography:Marriott is the son of Alice Marriott and J. Willard Marriott, the founder of Marriott International. He attended St. Albans School in Washington, DC, and earned a Bachelor of Science degree in finance...
is the Chairman & Chief Executive Officer of Marriott International. Adam Sherer is the Brand Vice President for ExecuStay.
History
ExecuStay was founded in 1987 and was one of the first corporate housing providers to offer its stock for sale to the public in August 1997. ExecuStay Corporation was purchased by Marriott International in 1999, where it first became ExecuStay by Marriott. In March 2002 the name was changed to Marriott ExecuStay.Between 1999 2002, under David Lorenzo
David Lorenzo
David V. Lorenzo is an American law firm marketing consultant, former strategic consultant and partner with The Gallup Organization, and former general manager of Marriott ExecuStay.-Career:...
(first as vice-president, later general manager), the annual revenue of ExecuStay increased from $1 million to more than $50 million in less than 3 years. Despite the context of a tight housing market, in less than two years, he managed to increase the division’s available apartments from 180 to 800 units. He also expanded the geographic coverage of ExecuStay into nearby Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, Westchester
Westchester County, New York
Westchester County is a county located in the U.S. state of New York. Westchester covers an area of and has a population of 949,113 according to the 2010 Census, residing in 45 municipalities...
, and Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...
, in a time when the concept of corporate housing was considered a feature of Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
's real estate market.