Press Release: AvenueWest Corporate Housing
November 2, 2000
DENVER, CO -- When John Fenley was asked to relocate from Fort Lauderdale to Denver, one of his initial thoughts
concerned the housing woes of the Mile High City. The notion of living with his wife, daughter and their dog in
temporary housing while searching for a home certainly didn't endear him to the prospect of moving. Fortunately,
like growing numbers of business people across the country, Fenley was provided with a much better option.
``We were extremely lucky in that we became aware of the role that corporate housing plays during the relocation
process,'' says Fenley, a research analyst. ``AvenueWest Corporate Housing was able to arrange for us to stay in
a wonderful home right next to a park. Due to this arrangement, and the fact that we're not stuck in some hotel,
my wife and I have the opportunity to really acquaint ourselves with Denver and not rush into any decisions in
terms of purchasing a new home. This peace-of-mind greatly enhanced the relocation process.''
Kimberly Smith, CEO of Denver-based AvenueWest Corporate Housing, says HR managers are paying increasing attention
to the role that corporate housing plays in relocation. ``In 1998,'' she says, ``according to the Employee Relocation
Council, $53,696 was spent on average to relocate an employee who already had a home. That figure represents a
34 percent increase from 1997.
``Therefore, it's become of paramount importance to the employer that an employee is happy with the relocation
process. And one way of ensuring that happiness and ease of transition is to utilize corporate housing. After all,
an employee would much rather spend a few months in a 2,000 square-foot downtown loft or a house in Cherry Creek
than a hotel room.''
According to Smith, the corporate housing market in Denver is expected to increase 12 percent this year. That jump
represents the strong economy in Denver, as well as the importance HR managers are placing on the industry.
``Cost is also an important factor,'' Smith says. ``For instance, one of our properties is a 1,700 square-foot
home in a historical neighborhood. That home, over the course of a month, rents for $117 per night. Meanwhile,
according to the Downtown Denver Partnership, the average hotel room in Denver costs $117 per night. So, in addition
to placing their employees in more comfortable and luxurious environments, HR managers can often save money by
capitalizing on corporate housing.''
About AvenueWest Corporate Housing
Founded in 1999 by Kimberly and Eric Smith, AvenueWest Corporate Housing offers a variety of accommodations --
including private homes in Cherry Creek and Highlands Ranch, as well as a variety of lofts in LoDo Denver -- for
the business and vacation traveler. AvenueWest caters to a wide range of consumers, from human resource departments
establishing short-term residency for employees to families planning reunions in Denver.
For more information, visit www.AveWest.com; call 303.825.7625; or write AvenueWest
Corporate Housing at 1440 Market Street, Denver, CO 80202.
SOURCE: AvenueWest Corporate Housing