November 2024 - Delsuites' Blog
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November 2024

Business Travel, Lifestyle talk, Vacation Travel

Travel Costs Are Set to Rise in 2025

November 27, 2024
rising travel costs

In recent years, global business travel pricing has reached a new and enduring peak. While prices will increase in 2025, the growth will be more moderate, ushering in what experts describe as “normalized growth,” said travel management company CWT in its tenth annual forecast.

The report, created in collaboration with the Global Business Travel Association (GBTA), highlights that although costs will continue to climb, the rate of these increases will significantly slow through 2024 and into 2025. The forecast includes slight upward trends in airfare, hotel rates, and car rentals worldwide.

Here’s a brief summary of the report’s predictions: 

Airfare

The global average ticket price was $668 in 2023, marking a 1.6% decrease. For Europe, the Middle East, and Africa (EMEA), the average ticket price stood at $785, a slight increase of 1.8%. 

Looking forward, 2024 will see a rise to $701 globally and to $797 in the EMEA region, marking growth rates of 1.9% and 1.5% respectively. By 2025, prices are predicted to reach $705 worldwide and $808 in EMEA, with modest growth rates of 0.6% and 1.4%.

Hotel Rates

Globally, the average daily hotel rate was $158 in 2023, an increase of 3.9%. The EMEA region demonstrated a higher increase of 6.8%, bringing daily rates to $157. 

Projections for 2024 set the global rate at $162 and EMEA at $160, with growth of 2.5% and 1.9% respectively. In 2025, global rates are predicted to rise to $165, while EMEA will see a rise to $163, reflecting a 1.9% and 1.8% growth.

Car Rentals

Average daily global car rental rates reached $44.30 in 2023, up by 3%. In the EMEA region, rates were slightly higher at $57, with a 2.5% increase. Forecasts show that in 2024, global rates will climb to $45.40, and EMEA rates will rise to $57.6, indicating growth of 2.5% and 1.1%. By 2025, rates will further increase to $46.50 globally and $58.1 in EMEA, with growth rates of 2.4% and 0.9%.

While pricing across major travel categories is levelling out, experts caution that the situation remains precarious. Nicholas Vournakis, Chief Customer Officer at CWT,  warned that this environment, characterized by small gains and price stability, is fragile. 

“There are many factors at play, whether its volatile oil prices, labor costs and constraints, inflationary pressures, and geopolitical factors,” he added.

Airfare, Hotel Rates, and Ground Transportation: More Findings

In this section, we’ll discuss the evolving landscape of business travel expenses, examining key factors such as airfares, hotel rates, and ground transportation costs, as presented by CWT. In 2023, they observed significant regional variations in pricing, influenced by post-pandemic demand shifts and supply challenges. 

Projections indicate a gradual upward trend from 2024 through 2025, highlighting steady increases in ticket prices, daily room rates, and rental fees. As travel regains momentum, businesses need to adapt strategies to manage costs effectively and capitalize on emerging opportunities.

Air Travel

  • The global average ticket price witnessed a minor reduction in 2023 but is expected to increase to $701 in 2024 and $705 in 2025.
  • EMEA’s ticket pricing will experience modest growth over the next few years.
  • North America anticipates the most notable uptick, with ticket prices reaching $804 in 2024.

Hotel Rates

  • The global average daily room rate climbed 3.9% to $158 in 2023, with different regions experiencing various rates of change.
  • Further steady increases in both global and EMEA regions are expected.

Car Rentals

  • Global car rental daily rates rose slightly, and similar moderate growth is projected for the ensuing years, maintaining a stable pricing environment across most analyzed regions.

Rethink Your Strategy for 2025

The CWT report advises a revamped approach in corporate and supplier interactions, changing the focus of the travel buyer. Here are the steps recommended for navigating the evolving landscape:

  • Reenergize pricing strategies: Stay focused on costs, introduce competition, and consider bold moves with new suppliers if prices continue climbing.
  • Holistic overview: Engage multiple stakeholders to grasp how business travel supports the organization.
  • Adjust key performance indicators (KPIs): With price stability, shift focus to new KPIs, emphasizing travel programs as valuable for employee engagement.
  • Continuous optimization: Embrace dynamic pricing powered by advancements in artificial intelligence and New Distribution Capability, necessitating ongoing negotiations.
  • Diversified pricing strategies: Acknowledge the varied pace of economic growth across regions and its effect on travel costs.
  • Explore new pricing approaches: As leisure markets soften, the traditional pricing power may decline, influencing how prices are set going forward.

Strategies outlined here provide a structured approach for businesses to navigate the fluctuating business travel market effectively. 

By embracing innovation, organizations can better manage costs and enhance value. Meanwhile, your ability to make plans and initiate cross-department collaboration will enable your business to respond proactively to market shifts. 

Implementing these strategies allows businesses to remain agile, optimizing their travel management and seizing potential advantages in a changing economic landscape.

Wrapping Up

In celebration of its tenth Global Business Travel Forecast edition, CWT and GBTA have also prepared a special supplement slated for release soon. This supplement will outline three potential future scenarios for business travel—Base, Boom, and Bust—extending to 2040. 

Furthermore, it will explore how emerging megatrends such as technological innovations, demographic shifts, sustainability imperatives, and geopolitical changes will influence business travel’s evolution.

Interested in exploring more travel accommodations and insights about Toronto? We at DelSuites invite you to visit our blog for more features on hotels and the city’s offerings.

About DelSuites: DelSuites stands out by offering high-quality furnished accommodations in excellent residential communities across the Greater Toronto Area (GTA). 

Recognized for its superior lodgings and exceptional personal service, DelSuites exclusively provides highly sought-after Tridel brand condominiums to its “Fortune 500” clientele. As one of the leading firms of its kind in the region, DelSuites offers professionally curated and meticulously maintained residences that feature luxurious Tridel lifestyle amenities and conveniences. 

 

Vacation Travel

Best Vacation Spots for Couples

November 22, 2024

When is the last time you went on an adventure with your partner? 

If you’ve been together for a while, you may have fallen back into a pattern of Netflix binges and takeout on the weekends. It’s nice to be cosy and comfortable – but traveling somewhere new with your special someone can bring a thrill and excitement back into your relationship. So, why not consider a getaway to one of these great vacation spots for couples? 

It doesn’t even have to be Valentine’s Day, your anniversary or any type of special occasion. It can be wonderful to travel with your sweetheart just because.  

When you’re looking for ideas for your next couples vacation, these are some of the best romantic spots where you can spend some time with your special someone: 

Vacation Ideas for Couples

Hocking Hills State Park, Ohio, USA

If you and your beloved are the type of people who enjoy hikes out in nature, you’ll fall in love with the waterfalls, cliffs and dense forests of the 
Hocking Hills region of Ohio. Located 50 minutes away from Columbus, it feels peaceful and serene. Although it’s incredibly beautiful, it’s not as crowded as some of the other national parks. So, there’s a good chance you’ll have the hiking trails to yourself (especially if you visit during the shoulder season.)

Scottsdale, Arizona, USA

In the desert town of Scottsdale, a romantic getaway will be packed with days at the spa, wine tastings, great cuisine, hikes in the hills. Perhaps you’ll even enjoy a hot air balloon ride over the Superstition Mountains. This sunny spot, with luxurious resorts and golf courses, is one of the most popular best vacations for couples. Make sure to bring your sunscreen – it’s warm and sunny throughout the year here. 

Niagara Falls, Ontario, Canada

There’s a reason why Niagara Falls is so popular as a honeymoon destination – attracting millions of couples from around the world. First of all, there’s the spectacular natural wonder of the falls, which will truly take your breath away. Plus, there’s the nearby Niagara wine region, where you can enjoy a tasting with your special someone. With several great restaurants, hotels with couples packages and so much more – it’s a great option for a romantic getaway. (Plus, it’s quite 
easy to get to from Toronto.)

Savannah, Georgia, USA

The oldest city in Georgia, Savannah is known for its romantic elegance and charm. It’s hard not to fall in love when you are surrounded by so much friendly classic Southern charm and beauty. Take a stroll with your special someone through the lush green city squares and parks. Each peaceful park is shaded by huge trees draped in cascading Spanish moss. You can go on a history tour to learn the stories behind the stately mansions and historic homes. Then, treat yourselves to some classic Southern barbeque. 

Tribune Bay, Hornby Island, British Columbia

One of the best beach vacations for couples in Western Canada is Hornby Island. This peaceful and naturally beautiful spot is quite far off the beaten track. You have to take two ferries to get there. But, the effort is well worth it if you want to get away from it all with your sweetheart. You can stroll along the stunning white sandy beach at low tide, enjoying the warm summer sunshine. To sunbathe without tan lines, check out the nude beach at Little Tribune Bay on the southern part of the island. 

vacation spots for couples

Tips for Planning the Best Couple Vacations

  • Be sure to incorporate things that you and your partner like. The best couples vacations include activities that you enjoy. But, they also include things your partner enjoys and things you can do together. Listen to what your partner wants to do and what’s important to them about the trip. 

  • Also, you’ll want to plan in some personal time on your vacations for couples too – especially if you are traveling together for multiple days. Being together 24/7 can be a lot and you and your partner might need a moment to take a break and recharge. 

  • Try something new. Going outside of your comfort zone can be a fantastic bonding experience. Why not try a new activity – like bungee jumping, a cooking class or horseback riding? 

  • If you can, book your romantic getaway outside of high season. You’ll find better prices and fewer crowds at the popular vacation spots for couples if you can travel in the slower seasons. 

  • Call up the hotel before you arrive. Ask them for a little something special in the room to surprise your partner. Whether it’s a bouquet of flowers or a bottle of champagne, it will be a special moment they will never forget. 

  • Avoid the restaurants packed with tourists and head to the lovely local spots instead. You’ll have a more authentic meal at a better price. 

vacation spots for couples

Where will you go on your couples vacations? 

If you have any other best vacations spots for couples in mind, let us know your suggestions in the comments below. If you are planning on coming to Toronto and staying for 30 or more days, be sure to make it a DelSuites’ stay. Choose from one of our furnished luxury rentals located in some of the most convenient and lively parts of the city. Close to everything you need to call it a second home. Start your search for a unit today.

Business Travel

The Evolution of Business Hospitality: Why Furnished Apartments Are Outshining Hotels

November 13, 2024
business hospitality

Have you noticed how business trips don’t look the same anymore? The days of rushing from the airport to a cookie-cutter hotel room are fading fast. Now, more and more professionals want to blend work with a little bit of fun. In fact, Forbes reports that 89% of business travellers are eager to add some leisure time to their work trips.

As companies look for more flexible, comfortable, and cost-effective ways to accommodate their employees, furnished apartments are stepping up. These spaces offer all the convenience of home, with the added privacy and flexibility that hotels can’t provide.

So, if you’re ready to see why more professionals are making the switch, read on.

 

Flexibility and Comfort Are the New Standard

Business travel has changed. Professionals now expect more than just a place to sleep—they need space to work, relax, and feel at home. Hotels, with their rigid routines, often fall short of these needs.

That’s where furnished apartments shine. With separate workspaces, fully equipped kitchens, and spacious living areas, they give you the freedom to live on your terms, whether you’re prepping for a big meeting or winding down after a long day.

At DelSuites, our apartments offer all the comforts of home. For more tips on settling in, check out 5 Things to Do After Moving Into Your New Furnished Apartment.

A Space That Feels Like Home

Travel can be disorienting—living out of a suitcase, eating takeout for days, and missing the comfort of familiar surroundings. Furnished apartments bridge the gap by offering a space that feels less like a layover and more like a home away from home.

At DelSuites, our apartments are thoughtfully designed to create a welcoming environment. From comfortable living rooms to luxurious bedrooms, we ensure every detail is covered. With personalized options like adjustable cleaning schedules, we go the extra mile to help you settle in quickly.

This sense of home is particularly important for anyone engaged in bleisure travel, a growing trend where professionals combine business with leisure activities during their trips. Furnished apartments blend business convenience and relaxation, allowing travellers to enjoy a break without sacrificing work obligations.

Cost-Effective Stays for Longer Durations

Long-term business travel can be costly, especially when relying on hotels. Furnished apartments offer a much more economical solution, particularly for extended stays. Instead of being charged daily for services you may not use, guests pay a flat rate that covers everything from accommodation to utilities, making it easier to budget for business trips.

DelSuites’ furnished apartments are competitively priced, allowing you to save on accommodation costs without sacrificing quality. 

You’ll also enjoy additional savings by cooking your meals and using the in-suite laundry, two often overlooked perks that offer huge value for long-term guests. Non-hotel lodging has become a go-to for those looking for both affordability and comfort.

Privacy and Independence

One of the biggest pain points for business travellers staying in hotels is the lack of privacy. Shared spaces, crowded lobbies, and room service interruptions can make it hard to unwind or focus on work. 

Furnished apartments provide complete independence. You can control your environment, ensuring the peace and quiet needed to get work done or relax after a long day of meetings.

At DelSuites, we take privacy seriously. Whether you need to host a virtual meeting, have an impromptu brainstorming session, or simply recharge, our suites provide a serene space without interruptions. Plus, with our suite inspection protocols, you can be confident that every aspect of your stay will be smooth and worry-free.

Source: Pexels

Innovation at the Core of Business Travel

Hotels have adapted to the basics of business amenities like wifi and conference rooms, but furnished apartments go a step further. With full home office setups, reliable high-speed internet, and smart home technology, furnished apartments enable business travellers to stay productive without missing a beat.

DelSuites offers state-of-the-art amenities that cater to the needs of modern business travellers. Whether you’re attending a virtual conference or catching up on emails, our apartments can handle all your work-related needs.

Additionally, furnished apartments are well-suited to accommodate sustainable business travel, a growing concern for companies aiming to reduce their environmental footprint. Staying in a furnished apartment allows you to minimize waste and enjoy energy-efficient living spaces, all while having the conveniences of home.

Trust and Quality: The DelSuites Difference

At the end of the day, what sets furnished apartments apart from hotels is the trust and quality they offer. 

Hotels can sometimes feel impersonal, and despite promises of luxury, they may fall short when it comes to personalized service. Furnished apartments, on the other hand, deliver these promises by providing tailored services that focus on individual needs.

DelSuites has built its reputation on trust and consistency since 1998. Our hospitality resolutions for 2024 include elevating customer service and tailoring each guest’s experience to ensure the highest level of satisfaction. Whether you’re staying with us for a few days or several months, we’re committed to making every moment of your stay seamless and comfortable.

A New Era of Business Travel

At DelSuites, we know that business can be hectic, and finding a place that truly feels like home while you’re on the road can make all the difference. That’s why we’re committed to offering more than just a place to stay—we’re here to create a space where you can unwind, be productive, and feel at ease.

Whether you’re in town for a few days, a few weeks, or blending business with a little leisure, our furnished apartments give you the flexibility and comfort to live on your terms. We’re here to take care of the details, so you can focus on what really matters.

So, if you’re ready to experience business travel that feels a little less like work and more like home, contact us today.

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