We’re more nimble, versatile, and dynamic than our competitors
Luxury temporary residences for employee relocations, home insurance claims, business travel, and extended stays is all that we do. We don’t manage hotels, we don’t build buildings. We manage over 1,500 properties in more than 38 prime locations across the country. That makes us more nimble, versatile, and dynamic than our competitors.
At the heart of our business is people. We want each guest to have a great experience when they book an extended stay with Premiere Suites. So our properties are typically located in up-scale residential areas near entertainment, shopping, transportation and close to major business districts.
They are spacious, comfortable, and furnished to a four-star standard to provide all the amenities and comforts of home. By offering on-call 24/7 guest services and bi-weekly housekeeping, we’re able to personally inspect each of the properties in our portfolio and immediately address guest requests or maintenance issues as required.
We work with landlords to acquire these properties in one of two ways:
Traditional Lease Program
Under the Traditional Lease Program, we sign a lease agreement with a landlord for a fixed term. We then furnish the property to our four-star standard and sub-let the furnished accommodation to executives for a shorter term (generally 30 days or more). Travelling executives are AAA tenants and our landlords come to appreciate their relationship with Premiere Executive Suites. Landlords that work with us under the traditional lease program benefit from a steady income stream in a care-free relationship as we are inspecting and maintaining the property regularly.
Furnished Accommodations Agreement
For landlords looking for greater returns and willing to take on more risk, we sign a furnished accommodations agreement. The landlords we work with under this agreement furnish their suites to our four-star standard. The agreement takes the form of a master residentiallease. We then sublet the property for a term of thirty days or more to travelling executives under a reservation agreement. The financial arrangement between Premiere and our landlords typically takes the form of revenue sharing in favor of the landlord at 70%. Under this agreement the landlord is paid when the property is occupied.