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Business Travel Recovery For 2024

September 21, 2023
business travel recovery

There’s no denying the effects the Covid-19 pandemic has had on the way we conduct business. Bill Gates predicted that over 50% of business travel and 30% of days in the office would be gone for good, but was he right? 

In the aftermath of the pandemic, it appears that everything isn’t quite so dire. According to the Global Business Travel Association, global business travel spending is expected to reach $1.517 trillion in 2024 – slightly higher than it was in 2019 – which indicates a promising recovery and offers hope for business travellers everywhere. 

In this article, we’ll explore business travel recovery in 2024 and the potential opportunities it brings. As companies embrace new technologies and creative solutions to stay connected with their clients, it opens up an array of possibilities for travel that will make it easier and more enjoyable than ever before. 

We’ll discuss how you can benefit from these trends to maximize your time on the road while also keeping safety top-of-mind. So if you’re ready to take full advantage of what business travel recovery offers in 2024, read on.

Navigating to a New Normal

By mid-2024, business travel is predicted to reach its pre-pandemic levels, driven by a renewed sense of confidence and bolstered by technological advances that prioritize safety and convenience. 

This rebound will likely be more than just a fleeting moment but will serve as the start of an extended period of sustainable growth. Now’s your chance to discover new horizons and build stronger connections. 

Factors Influencing Travel Decisions

When planning your travels in 2024, there are several elements you should consider before making any decisions: 

  • Safety: Enhanced protocols have made travelling safer and more transparent. You can travel with greater peace of mind knowing that each stage of your journey is held to the highest hygiene and safety standards. 
  • Costs: Companies like DelSuites are revolutionizing the market by offering luxurious experiences at accessible prices so you can enjoy enriching trips without breaking the bank. 
  • Value of in-person meetings: Nothing beats in-person meetings regarding sealing deals, motivating teams, or establishing new relationships; being present amplifies your impact tenfold.

The Reemergence of Live Events

After the isolation imposed by COVID-19, live events are seeing a resurgence in popularity. As businesses look to the future, they are increasingly embracing conferences and seminars as a way to spur growth. 

The ability to participate in international panels, collaborate with global partners, explore new markets, and make crucial face-to-face connections is seen as essential for business travel recovery for 2024. 

How Technology is Aiding Business Travel Recovery in 2024

The business world has seen a dramatic shift in how people travel for work. The rise of technology, remote working, and more flexible policies have all contributed to this change. Here’s an overview of how technology is replacing some travel needs: 

Remote Work

The ability to work remotely has increased exponentially over the past few years. More employers are now offering employees the option to work from home or other remote locations on a regular basis. This means fewer trips for meetings or conferences and ultimately less need for business travel overall. 

Video Conferencing

Virtual meeting tools such as Zoom, Skype and Google Meet have become a popular alternative to face-to-face meetings. Businesses can now communicate with clients and colleagues from anywhere in the world without travelling. 

Non-Hotel Lodging

With the increase in remote working comes an increasing demand for non-hotel accommodation options such as serviced apartments or Airbnb listings. These are often more cost-effective and provide a more comfortable environment than traditional hotels, making them ideal for business trips that don’t require frequent travel. 

Travel Policies 

Many businesses have also updated their travel policies to be more flexible. For instance, many employers now provide employees with the option of taking ‘bleisure’ trips – combining business and leisure activities during a single trip. 

These changes have all contributed to a significant shift in the way businesses are approaching travel post-pandemic.

Sustainability: Balancing Business Needs and Environmental Goals 

Businesses have begun to prioritize sustainability when making travel decisions. Companies are increasingly aware of the environmental responsibility they hold in making sure their employees’ business trips are not impacting the environment negatively. 

As such, there has been a shift towards more sustainable options for travelling for work. 

Reducing Carbon Emissions 

Reaching carbon neutrality is at the top of many companies’ agendas as they seek ways to reduce emissions from business travel. Companies are looking into different strategies that focus on reducing miles travelled, offsetting emissions with carbon credits, and using more sustainable modes of transportation. 

This could include taking the train instead of flying when possible or selecting hotels that use renewable energy resources. 

Engaging and Renegotiating With Travel Suppliers 

Companies also work with travel suppliers to create a more sustainable employee experience. For example, businesses can ask their hotel partners to reduce water wastage through low-flow showerheads and faucets and LED lighting in common areas. 

In addition, companies may be able to renegotiate contracts with airlines so that they can purchase carbon offsets when booking flights for their employees. 

The Upscale Travel Experience: Redefining Luxury for Business Travelers 

As business travel slowly rebounds from the pandemic, employees’ expectations have shifted. They want to feel safe and secure while travelling, but they also expect a higher quality of service. 

With companies investing in employee wellness more than ever before, they are looking for luxurious experiences that will make them feel pampered during their time away from home. 

However, finding these types of accommodations can be difficult when rates are higher due to increased demand and decreased availability. Some companies struggle to provide travellers with luxury services at competitive prices while staying within a reasonable budget. 

Here are some tips for finding the delicate balance between luxury and cost: 

  • Leverage your partnerships: Many hotels have loyalty programs that offer discounts to companies that book frequently with them. Take advantage of these partnerships to get your employees the luxury experience they desire at a more affordable rate. 
  • Utilize technology: There are countless tools available to help you easily compare prices and amenities from different suppliers quickly and efficiently. This allows you to make sure you’re getting the best deal without sacrificing quality or service. 
  • Consider off-peak travel: Non-peak times of the year can provide greater savings while still offering a luxurious experience. If your employees have flexible travel dates, consider booking during these periods to maximize cost savings and quality services. 

By following these tips, you can offer upscale experiences that make your travellers feel pampered without breaking the bank. 

Consider DelSuites for Your Next Business Trip

As we move closer to 2024, business travel will continue to recover and is projected to be fully restored by the end of the year. With this comes different types of travel accommodations that offer both luxury and affordability for enterprising travellers. 

DelSuites has been providing corporate housing in Toronto for over two decades, with our extended-stay apartments located across the city. We understand how important it is to have connectivity, comfort and efficiency while travelling for work. 

When you stay with us, you’ll enjoy an extensive list of benefits designed specifically with the modern-day business traveller in mind. Our tailored packages will meet your company’s needs without sacrificing quality or breaking the bank. 

So if you’re looking to make your corporate travel seamless and efficient, contact DelSuites today and let them help your employees transition into a new city with ease. 

Business Travel, Real Estate Agents, Toronto Condos

5 Things to Consider When Choosing Between Renting and Buying

July 9, 2023
buy or rent in toronto,

You may have heard the advice that rent is money that you are throwing down the drain, especially, if you’re not making a mortgage investment.  However, due to the increase in the pricing of housing around the Greater Toronto Area, more houses have experienced a drop in affordability in the past few decades, and buying one isn’t an easy option for everyone. 

So, the debate on whether to rent or buy is very complex from a financial perspective. And it can get a bit confusing which one to choose.

Are you trying to decide which decision is right for you? Read on for a side-by-side comparison of their pros and cons to help you know whether renting or buying is best suited to you.

Flexibility vs. Stability

With mortgages, you receive financial penalties for breaking it by moving and you have to pay taxes to sell your property. But with renting, you can move after your initial lease is over, which is typically after 12 months. 

This benefits you if you’re thinking of moving any time soon or want to have the flexibility to move at any point in your life rather than committing to one place.

On the other hand, when you own a home, you can always have peace of mind that you’ll never get suddenly evicted. Also, you’re in charge of making all the decisions about your home – not your landlord. Want to renovate it or add the ensuite you’ve always wanted? Go ahead. 

Buying a Cheaper Apartment vs. Retaining Capital Gains

Monthly mortgage payments can be higher than the cost of rent – at least in the beginning.

By and large, it’s usually cheaper to rent. But this heavily depends on where you choose to live.

Another thing to consider is that when you rent, you don’t retain capital gains. But if you own a home, you’ll pocket the additional equity if the value of your home increases. 

And if you choose to sell it in the future, you’d realize the capital gains.

Access to Alternative Investments vs. A Simple Investment

Renting your home doesn’t mean you can’t make investments to benefit you in the future. Since you’ll likely save money by renting, you can invest what you’ll save into stocks, a GIC, or starting your own business.

On the other side of the coin, owning a home is a simple investment into your future, which is one of the things that makes it so attractive to some people. Once you’ve paid it off, it’ll be a guaranteed asset. And you don’t have to spend time worrying about the uncertainty of stocks or bonds. 

Having More Disposable Income vs. Building Up Equity

Homeowners take on a considerable amount of debt, which may hinder them from investing elsewhere, such as RRSPs or TFSAs. In some cases, homeowners may even find that they have to spend most of their income on the costs of homeownership. 

But with renting, you can have more financial freedom. So, you can save up for retirement and have more money left over for other needs and wants. 

On the other hand, every monthly payment you give towards your mortgage helps you build equity in your home. And the amount of interest you have to pay will decrease over the years. 

Less Maintenance vs. More Privacy Without a Landlord

The benefit of renting a property from a landlord is that you’re free from all the hassle of its daily maintenance and upkeep. 

Although you still have to pay for repairs, your landlord is the one responsible for maintaining your home. This saves you more time and not to mention, extra costs. 

But the downside to this is that while you’re living on their property, they’re in charge. And you wouldn’t want to deal with a landlord policing your actions or a surprise eviction notice.

DelSuites Has the Perfect Rental You’re Looking For

Are you considering choosing a rental but don’t know where to start looking? Or are you waiting to close a deal on a new house and need to vacate your current property before the closing date? 

Whatever your need is, we have the right rental for you. We have apartments and condos, as well as short-term rentals and leases. We also have furnished and serviced options.

And with all our locations in Mississauga, North York, Scarborough, and many more cities, you can choose the location that’s best for you. 

Ready to get started? Browse through our numerous options to find the rental that’s best suited to you today.

Business Travel

How Sustainable Short-Term Rentals Can Improve The Business Travel Experience­

June 22, 2023
Sustainable Short Term Rentals, Business Travel

Tired of going from hotel to hotel and feeling like you are living out of a suitcase? 

The rise of the sharing economy has transformed the way we travel, with short-term condo rentals becoming increasingly popular for both leisure and business trips. As sustainability concerns grow, eco-conscious travellers are seeking accommodations that align with their values. Sustainable short-term condo rentals are emerging as a go-to choice for business travellers, offering an array of benefits that improve their overall travel experience. 

Here are the ways in which sustainable short-term rentals are making a positive impact on the business travel experience

Reducing Carbon Footprint

Sustainable short-term rentals are designed with eco-friendly features that minimize their carbon footprint. These may include energy-efficient appliances, solar panels, LED lighting, and smart thermostats. By choosing a sustainable short-term rental, business travellers can reduce their environmental impact, contributing to a healthier planet and a greener conscience.

Prioritizing Health and Well-Being

In addition to minimizing environmental impact, sustainable short-term rentals often prioritize the health and well-being of their guests. This focus on well-being can help business travellers feel refreshed and rejuvenated after a long day of meetings or conferences.

Embracing Authenticity

Sustainable short-term rentals often provide a more authentic home-like experience than traditional hotel accommodations. With modern features, amenities and the feeling you are living like a local, these rentals allow guests to immerse themselves in the local culture. Business travellers can enjoy a more engaging and memorable experience, fostering a better connection with the destination they are visiting.

Encouraging Mindful Travel 

Staying in a sustainable short-term rental can inspire business travellers to adopt a more mindful approach to their journey. With a heightened awareness of their environmental impact, travellers may be more inclined to choose eco-friendly transportation options, walk to dine at local restaurants and engage in responsible tourism practices. This shift in mindset can lead to a more fulfilling and meaningful travel experience.

Providing Modern Amenities and Comforts

Sustainable short-term rentals do not sacrifice comfort or convenience for the sake of eco-friendliness. Many offer modern amenities such as high-speed Wi-Fi, fully-equipped kitchens, and luxurious bathrooms, ensuring business travellers have everything they need to work and relax during their stay. By choosing a sustainable rental, guests can enjoy the best of both worlds: eco-conscious accommodations without compromising on comfort.

Promoting Work-Life Balance

The home-like atmosphere of a sustainable short-term rental can help business travellers maintain a healthy work-life balance while on the road. With separate living, dining, and sleeping areas, guests can create a distinct separation between their work and personal spaces. This can help reduce stress and promote relaxation, leading to a more enjoyable and productive business trip.

Finding Accommodations That Are Aligned With You

Sustainable short-term condo rentals are reshaping the business travel experience, offering a host of benefits that extend beyond their eco-friendly features. By reducing their carbon footprint, prioritizing health and well-being, supporting local communities, and providing modern amenities and comforts, these rentals are proving to be a popular choice for environmentally conscious business travellers. As the demand for sustainable travel options continues to grow, we can expect to see an increasing number of short-term rentals embracing green practices and paving the way for a more sustainable future in the tourism industry.

Learn more about our Business Travel and Accommodations At DelSuites and start your search for your next condo rental here.

Business Travel, Corporate Housing, Relocation

Setting Sights For Canada Relocation

May 2, 2023

Despite the long winters and icy temperatures, many workers from around the globe want to move to the land of maple syrup and poutine in order to work, live and raise their families in this peaceful, safe, democratic and welcoming environment.

Canada Relocation – A Safe and Pleasant Place to Live

It is thought that the increase in interest in Canada as a place to live comes as other more typical Canada Relocationemployee destinations experience unrest. When workers around the world turn on the television and see what is happening in the USA, it causes a lot of concern.

Also, Canada offers a lot of positive benefits – including health care and a safe environment. These attributes are luring workers to Canada from all over the world and are significant factors in Canada’s rise within the list of most desirable places to live.

Entering Canada Becoming Easier

Also, countries such as the USA, the UK and Australia are making it more difficult for people to enter and work. Canada is currently opening up and going in the opposite direction, which makes it more appealing for Canada relocation.

Canada RelocationSome of the changes implemented include a reduction of the required duration for physical presence in Canada from 3 out of 5 years to 4 out of 6 years. Also, a portion of the time that has already been spent in Canada before achieving permanent resident status will now be allowed to count toward time for residency requirements.

Canada has also been designing systems that are designed to lure skilled workers from around the world, such as the Express Entry System and the new Global Skills Strategy. These new changes are part of a larger overhaul of the Canadian Citizenship Act. Canada aims to be more open to migration and to serve as a beacon for top global talent.

Are you relocating to Canada?

If are moving to Canada, we can help. Contact DelSuites today to learn about why our furnished apartments are the ideal place to stay during a relocation.

Business Travel

New Travel Hacks to Try in 2023

April 13, 2023

Travel is finally picking up and more people are looking to come to Toronto to explore all the great things the city has to offer. With that comes new opportunities to explore and new ways to save money while doing so. In this article, we’ll cover the top travel hacks to try in 2023 that will not only save you money but also help you get the most out of your trip. From booking strategies for groups, or families, to packing tips, we’ve got you covered.

Use Credit Card Points for Flights

One of the easiest ways to save money on travel is by using your points on your credit card, especially for flights. Many dedicated loyalty programs offer reward incentives that allow you to earn points with each purchase you make. These points can be redeemed for travel-related expenses like flights and rental cars. Be sure to research the rewards programs offered by your credit card provider, subscribe to email newsletters from airline companies, and use your card for all travel-related expenses to maximize your rewards.

Book Early

Another way to save money on travel is by booking early. The earlier you book, the more likely you are to find lower prices on flights, experiences, and rental cars. Additionally, booking early gives you more time to research and plan your trip, which can help you find the best deals and avoid unnecessary expenses.

Travel During The Off-Season

Traveling during peak season can be expensive, so consider traveling during off-seasons. Not only will you save money on travel expenses, but you’ll also avoid crowds and have a more authentic travel experience. Do some research on your destination’s peak season and plan your trip accordingly.

Use Public Transportation

Using public transportation is not only cheaper than renting a car, but it can also help you experience your destination like a local. Research the public transportation options available at your destination and plan your itinerary accordingly. Many cities offer discounted public transportation passes for tourists, so be sure to look into that as well.

Stay in a Furnished Apartment Instead of a Hotel

Staying in a furnished apartment can be a great way to better utilize your accommodations during your stay in the city. Furnished apartments, like DelSuites, offer comfortable and luxurious units with multiple bedrooms for you to travel with your family. DelSuites furnished apartment rentals in Toronto offer a variety of accommodation options, from studio to 3-bedroom suites, making it easy to choose the space that best suits you.

Pack Smart and Sustainably

Packing smart can not only save you money on baggage fees but also make your trip more comfortable. Pack versatile clothing items that can be mixed and matched and bring travel-sized toiletries to avoid having to purchase them at your destination. Additionally, make sure to pack any necessary medication or electronics to avoid having to purchase them at a higher price abroad.

Research Free Activities

Researching free activities in your destination can not only save you money but can also help you experience your destination in a more authentic way. Look for free walking tours, parks, and museums to explore during your trip. Additionally, look into any festivals or events that may be happening during your stay.

Be Flexible with Your Dates

Finally, being flexible with your travel plans can help you save money and have a more enjoyable trip. Consider traveling to destinations that are not as well-known, or changing your travel.

Use Travel Hacks To Get More Out of Your Trips

These travel hacks are sure to help you save money and have a more enjoyable trip in 2023. Remember to plan ahead, research your destination, and be open to new experiences. By utilizing these tips, you can make the most of your travels without breaking the bank. Safe travels!

Book A Furnished Apartment For Your Next Trip To Toronto

Are you looking for a fully furnished, short-term rental that has all of the amenities and comforts of home?
Book your 30-plus day suite today and see available furnished, short-term rental in downtown Toronto now through DelSuites.