{"id":11383,"date":"2022-08-05T12:41:26","date_gmt":"2022-08-05T09:41:26","guid":{"rendered":"https:\/\/www.robomarkets.com\/blog\/?p=11383"},"modified":"2023-08-11T15:05:19","modified_gmt":"2023-08-11T12:05:19","slug":"ipo-of-corphousing-group-convenient-rental-service","status":"publish","type":"post","link":"https:\/\/www.robomarkets.com.cy\/blog\/stock-market\/ipo-of-corphousing-group-convenient-rental-service\/","title":{"rendered":"IPO of CorpHousing Group: Convenient Rental Service"},"content":{"rendered":"\n

When travelling, we often face the problem of finding a good place to stay. Hotels aren’t always comfortable and the service quality leaves much to be desired. In such cases, different short-term<\/a> rental services may be of great help and assist tourists to find cheaper accommodation much faster.<\/p>\n\n\n\n

In today’s article, we’ll take a closer look at CorpHousing Group, Inc., the company that provides intermediary services for short-term rental of detached houses and mansions in American cities. The company is planning to go public by listing on the NYSE on 11 August under the \"CHG\" ticker symbol.<\/p>\n\n\n\n

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<\/span><\/a>What we know about CorpHousing Group<\/span><\/h2>\n\n\n\n

CorpHousing Group is a short-term apartment rental operator in big megametropolises in the US. The company has a website and an application with a user-friendly interface. CorpHousing Group is headquartered in Miami, Florida; its CEO is the co-founder, Brian Ferdinand. He holds a majority share, that’s why other shareholders can’t have a significant influence on the company’s operational activities. It might be a serious problem in case the company’s business model requires a restructuring.<\/p>\n\n\n\n

CorpHousing owns SoBeNY, a brand which conducts activities in the short-term rental market. The company established a goal to develop a reliable and effective service for searching real estate objects for its clients.<\/p>\n\n\n\n

CorpHousing acts as an intermediary between accommodation owners and tourists, and offers the latter all the benefits of holidays and vacations outside the classic hotel industry. The major success criterion is providing both lessors and lessees with safety.<\/p>\n\n\n\n

\"Business<\/a>
Business of CorpHousing Group<\/em><\/figcaption><\/figure>\n\n\n\n

As of the report date, the company managed 490 real estate objects in 9 American cities, and 688 more objects were in the process of commissioning. By the end of 2022, CorpHousing Group is planning to commission at least 3,600 objects in 12 cities.<\/p>\n\n\n\n

\"Business<\/a>
Business of CorpHousing Group<\/em><\/figcaption><\/figure>\n\n\n\n

In addition, CorpHousing is entering the global market this year. At the moment of filing an IPO<\/a> request, the company’s management was targeting London and Paris. The issuer gets most of its revenue from rental payment commissions.<\/p>\n\n\n\n

<\/span><\/a>The prospects of CorpHousing Group’s target market<\/span><\/h2>\n\n\n\n

The company’s target market is segmented enough. Tourists can choose from a wide range of accommodation types: hotels, resorts, hostels, holiday apartments, and others. According to Travel Accommodation Market, a market research report by Allied Market Research (AMR), the global travel accommodation market was estimated at $632.8 billion in 2018. By 2026, it might reach $893 billion.<\/p>\n\n\n\n

\"The<\/a>
The target market of CorpHousing Group<\/em><\/figcaption><\/figure>\n\n\n\n

Consequently, the Compound Annual Growth Rate (CAGR) could be 4.5% from 2019 to 2025.<\/p>\n\n\n\n

\"The<\/a>
The target market of CorpHousing Group<\/em><\/figcaption><\/figure>\n\n\n\n

It's worth noting that the industry incurred heavy losses from global lockdowns during the coronavirus pandemic in 2019. This market hasn’t completely recovered ever since.<\/p>\n\n\n\n

The issuer’s key competitors are:<\/p>\n\n\n\n