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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. 

 

Announcements, Corporate Housing, Downtown Toronto Condos, Lifestyle talk, Toronto Condos

The Well: Premier Luxury Living at King West

August 21, 2024
The Well

As part of your extended stay in Toronto, King Street West is the place to be. Once an industrial area, it’s now a lively neighbourhood filled with vibrant nightlife, diverse dining, and cultural attractions. It’s the ideal spot to experience Toronto’s dynamic city life.

And when it comes to finding the perfect place to stay, The Well offers an unmatched experience. This groundbreaking development is considered the most ambitious mixed-use project in Canada. 

Nestled between Front, Spadina, and Wellington, The Well includes an impressive 1.1 million square feet of office space, 500,000 square feet of retail and dining options, and 1,700 residential units spread out over six interconnected buildings – a major hub that promises the ultimate urban lifestyle.

At The Well, you’ll find spacious residences, top-tier amenities, and a community that embodies modern Toronto living. So, without further ado, get to know your new home away from home in King West’s premier luxury neighbourhood. 

Built with Tridel Excellence

For over 90 years, Tridel has set the standard for home building in Toronto. Renowned for its commitment to quality and innovation, Tridel’s projects truly reflect a legacy of excellence and luxury. Their latest venture, The Well, carries on this tradition on a grand scale.

The Well is a groundbreaking development, surpassing the size of the average condo project by tenfold. The project includes everything from high-rise residential towers to extensive retail and office space, blending seamlessly into the vibrant neighbourhood of King West.

The spacious residences make it easy to live in one of Toronto’s most exciting areas. Above The Well, DelSuites furnished apartment rentals provide breathtaking views of the cityscape. 

This integration of luxury and practicality reflects Tridel’s philosophy, making The Well a standout choice for those seeking urban sophistication at its best.

Location and Neighbourhood Appeal

King West is, without a doubt, one of Toronto’s most active neighbourhoods. The area is a blend of old and new, with historic buildings standing alongside modern developments. This fusion creates a unique atmosphere that attracts a broad demographic, from young professionals to cultural enthusiasts.

Living in King West means you are never far from the action. The neighbourhood offers a mix of green spaces and recreational facilities. Local landmarks are within easy reach, and public transportation connects you effortlessly to the rest of the city. 

The King streetcar can whisk you to various destinations in minutes. For longer journeys, you can connect with Line 1 of the TTC at St. Andrew or travel north on the Spadina streetcar to reach Line 2 of the subway.

Exceptional Living Spaces

DelSuites stands out at The Well. Our 2 Bedroom – 2 Bathroom Suites offer a luxurious alternative to standard hotel stays. These fully furnished condos are designed to provide the comforts of home with added sophistication. Each suite spans around 800 square feet and includes a fully equipped kitchen, washer and dryer, and premium cable and internet packages.

Our rentals come with all utilities included, and bi-weekly housekeeping ensures your space remains immaculate. Enjoy the flexibility of a departure policy that adapts to your needs. 

Security is a priority, with 24-hour surveillance and encoded suite intrusion alarm systems. Additional amenities include underground, indoor, and secured parking.

Whether you’re in Toronto for business or leisure, or bleisure travel as many do nowadays, DelSuites at The Well promises a stay that combines luxury with practicality for a memorable and comfortable getaway.

Unparalleled Amenities and Services

The Well offers a lifestyle that’s hard to beat. Rising 39 stories into the Toronto skyline, this high-rise condominium features incredible design. Step into expansive residences that boast light-filled interiors. The finishes combine modern elegance with timeless appeal.

A curated collection of shops, restaurants, fresh food markets, workspaces, and residences is integrated into the development to foster a sense of community, culture, and entertainment – all in one. 

Imagine starting your day with a workout at the state-of-the-art fitness and yoga studios, followed by a refreshing dip in the outdoor swimming pool.

The amenities extend beyond the ordinary. Enjoy evenings in the fireplace lounge, or host a barbecue on the outdoor terrace, complete with BBQs and pizza ovens. For those who love to entertain, the entertainment lounge offers a dining room and games room, perfect for gatherings with friends and family.

Even your furry companions are taken care of, with a dedicated dog run where they can play and socialize. The Well is designed to cater to every aspect of your life, making it the ultimate luxury and convenience destination.

A Walker’s Paradise

The Well is located in a neighbourhood with 99% walkability. Living here means you can leave the car behind and embrace the freedom of city living. This prime location keeps you within minutes of some of the greatest streets and venues in North America. 

King West is known for its vibrant energy, and The Well is at the heart of it all. Green spaces, open-air public promenades, and an atmosphere of intrigue make this neighbourhood a joy to explore on foot. Every corner reveals something new, from trendy cafes to boutique shops, all contributing to a dynamic, enriching vibe. 

Living at The Well means being centrally located in a neighbourhood that’s essentially an extension of the King West lifestyle, where every amenity, every park, and every cultural experience is just a short walk away.

Luxury Awaits with DelSuites

From meticulously designed residences to unparalleled amenities, every aspect of The Well gives you a premier living experience in one of Toronto’s most coveted neighbourhoods.

Living at The Well means being part of a story that blends the old with the new, and where every day brings new opportunities to explore and connect. Whether you’re soaking in the city views, enjoying the vibrant street life, or simply relaxing in one of the many inviting community spaces, The Well offers a lifestyle that is as enriching as it is exclusive.

This is your chance to experience Toronto like never before. Make your stay at The Well possible with DelSuites. Book your stay today and take the first step toward embracing the ultimate in urban living.

Customer Service Experience, Lifestyle talk, Toronto Condos

Our Guest Services Will Make Your Stay Memorable

August 11, 2024

It’s a tough job but someone has to do it. Actually it’s not only someone but a whole team of individuals who unite in a joint effort to give you the experience of a lifetime. From the moment each guest arrives, until the moment they bid farewell, the short-term rentals Toronto staff team is working diligently to ensure that individuals and their families are having the very best experience. Whether you’re checking in to a fully-furnished rental suite for a week or longer, you can relax in the comfort that can be found in your home away from home.  

Communication Is Crucial For Guest Services

Even before your day begins, the guest services team is responding to emails, verifying schedules and generally planning their day before they hit the office. As part of the joint effort, each team member monitors a 24-hour guest service’s hotline (including evenings and weekends) to ensure your needs are always met.

Making Sure Suites Are Nice and Clean

When it comes to maintaining well-appointed suites, it’s not only up to the cleaning staff. Each guest services team member is in touch with housekeeping supervisors, to review the schedules and ensure that arrival, departures and guests’ special requests are completed in a timely manner. Special requests might mean that housekeeping staff are required to handle emergency cleanings that require additional staff assistance. Through regular communication between housekeeping supervisors and guest services, we are able to provide a high-quality standard of cleaning each and every time.

Making Sure Suites Are Up-To-Date

From sourcing replacement electronics to selecting custom furnishings, the staff at Delsuites makes it a priority to ensure your stay is enjoyable and comfortable. In fact, it’s through their direct contact with guests that team members gather a sense of the items that will make life away from home, even better for everyone.

Making Sure Suites Are Nice and Clean

While most days it may be a little hectic for guest services staff, there’s certainly never a dull moment. In fact, for many staff, it’s the diverse nature of the job that keeps them energized each day. Similar to the backstage of a concert or theatre performance, you never really know what goes on behind the scenes but when all goes according to plan, it makes for one incredibly memorable experience.

Learn more about DelSuites and our commitment to providing guests with a wonderful stay and guest experience.

Downtown Toronto, Downtown Toronto Condos, Lifestyle talk, Toronto Condos

5 Ways You Can Stay Productive While Working Remotely

June 3, 2024
working from short-term rentals in toronto

Whether you’re working from home as a result of the lockdown across Toronto, or you have just started a new remote job, adjusting to life without an office can be trickier than you initially imagined. 

While the idea of rolling out of bed at 8:20 a.m. and starting work at 8:30 a.m. sounds like a dream come true to many, after a few days or weeks of remote working, you may find yourself struggling to stay productive.

Here are 5 Ways You Can Stay Productive While Working Remotely

1. Schedule Breaks in Your Day

If you’re struggling to get work done from a remote location, you may think that adding more breaks to your day would be counterproductive. However, studies have shown that carefully scheduled work breaks can improve the quality of the work you produce. 

The Pomodoro Technique is a pretty extreme, regimented version of this concept. In this technique, you. Break your day into 25-minute work periods separated by 5-minute breaks. After four rounds, you will get a longer break of 15 to 20 minutes.

While you may find this structure a bit too intense, it’s still helpful to schedule in breaks. This way, your day will feel more purposeful. Because you have set break times, you’ll stop feeling aimless as you work. Instead, you’ll begin working towards mini-deadlines throughout the day. 

2. Set Up a Remote Working “Office” in Your Home

Asian business woman work from home and stretching her body because feel tired and sleepyafter working on computer, smart female working at home. Lifestyle woman relax after working at home concept.

Whether you’re working at home, or you’re staying and working in one of our downtown Toronto apartments, it’s inevitable that your workspace and your living space will somewhat overlap. Many remote workers make the mistake of getting a little too comfortable when working at home. While you may love the idea of grabbing your laptop and typing away while still in bed, this can be a seriously unproductive setup. 

In order to trick the mind into feeling productive, you need to feel like you are in a work environment. Set up a well-lit, organized desk in your home that will serve as your office. Be vigilant about using this area for work and only for work. This way, your muscle memory will get in the habit of treating this home office as a special place of productivity, and you should find it easier to get stuff done.

3. Turn Off Your Phone

The modern world is filled with constant distractions — and most of them originate from our smartphone devices. In 2017, a shocking study revealed that Americans tend to check their phones once every 12 minutes on average. No wonder we find it so hard to concentrate and keep our levels of productivity up!

To keep your mind focused on what you’re doing, remove this major distraction by turning off your device, or, even better, by sticking it in a drawer. This way, you won’t be tempted to absent-mindedly open Twitter or Instagram every few minutes throughout the day.

4. Use Video Conferencing to Maintain Contact With Colleagues

toronto short term rental zoom call

If you’re used to working in a close-knit team, you may be finding remote working conditions pretty tricky. Working alongside colleagues can help us to feel inspired and motivated. When we get stuck, we can bounce around ideas; when we get bored, we can have a quick chat, and then get back to it. 

In order to maintain a sense of teamwork and community, try to schedule a few Zoom sessions a week with your colleagues. This will break up the monotony of at-home working, plus, it will give you a much-needed boost in energy so that you can finish off your week with high levels of productivity. 

5. Get Outside

When we commute to an office every day, we are forced to spend at least a few minutes in the fresh air. However, many remote workers find that they can go days on end without seeing the sun. Aside from the dangers of developing vitamin D definitely, a lack of outdoor time can be pretty stifling for the mind. 

Try to find time to get outside for a daily walk. The fresh air and change of scenery can help you to rethink problems, while the exercise will boost your energy levels for the rest of the day.

Our downtown Toronto apartments are all perfectly situated near some of the city’s best parks so that you can step out your door for a quick stroll, and find yourself in a green oasis in just a few short minutes.

Discover Toronto Short-Term Rentals With DelSuites Today

Are you looking for short-term rentals in Toronto? Our downtown Toronto apartments are perfect for students and professionals alike. Whether you need to work from your new home, or you need a base in the downtown area, DelSuites has you covered.

We can help you find the perfect place to call home. Get in touch with our sales team today by calling 647-370-4313.

Lifestyle talk

Spring Cleaning Tips for Your DelSuites Apartment: Keeping Your Space Fresh and Inviting

May 8, 2024

Welcome to springtime in Toronto! The city bursts into life with vibrant colours and invigorating energy. As we embrace the warmer days and budding blossoms, it’s also time to tackle that age-old tradition: spring cleaning.

Did you know that sunlight plays a key role in regulating our sleep hormone, melatonin? With more daylight hours, we feel more alert and energized, ready to tackle any task that comes our way. This makes cleaning during spring so ideal.

No matter what the season, we ensure your furnished DelSuites apartment is in top shape. We make it easy, as our Guest Services team is always here to help, whether it’s arranging general maintenance or liaising with building management.

But if you’re itching to get started on a major spring cleaning journey, we’ve put together some handy tips to keep your apartment looking fresh and inviting.

So grab your vacuum cleaner, and let’s make your space shine brighter than ever before. After all, there’s nothing quite like a clean home to welcome the joys of spring.

Make a plan of attack to tackle tasks efficiently.

Creating a plan makes spring cleaning easier. Start by listing all the tasks you need to complete and prioritizing them based on urgency or difficulty. Break down larger tasks into smaller, manageable steps to prevent feeling overwhelmed. Allocate specific time slots or days for each task, setting realistic goals to avoid burnout. 

By planning ahead, you’ll streamline your cleaning process and maximize productivity. This leaves you with more time to enjoy the sunny days of spring – and even visit a quirky local museum or two. 

Let the sunshine in with sparkling glass.

There’s nothing quite like the sight of sunlight streaming through squeaky clean windows to brighten up your home.

Gather your cleaning supplies; a glass cleaner or a homemade solution of vinegar and water works wonders. Use a microfiber cloth or newspaper for a streak-free shine.

Begin by dusting window frames and sills, then spray your chosen cleaner onto the glass surface. Wipe in a circular motion to remove dirt and grime, focusing on any stubborn spots. Finish by buffing the glass with a dry cloth for a flawless finish.

Not only will your windows look pristine, but you’ll also invite more natural light into your space, creating a warm and welcoming atmosphere.

Freshen up your fabrics.

After a long winter of hibernation, it’s time to give your fabrics a much-needed refresh. 

Start by stripping the bedding and curtains. Launder linens with a fresh-scented detergent, adding a splash of vinegar to remove any lingering odours. While the linens are being washed, vacuum upholstered furniture to remove dust and debris, using an upholstery attachment for crevices and seams. Once everything is clean and dry, reassemble your space with fresh, fluffy fabrics, ready to welcome the sunny days of spring with open arms.

Scrub-a-dub the floors.

Roll up your sleeves and give those floors a thorough scrubbing. The usual way to get started is to sweep and vacuum the floor to remove any loose dirt and debris. Then, depending on your floor type, choose an appropriate cleaning solution.

For hardwood or laminate floors, use a damp mop with a mild cleaner, making sure not to saturate the wood. Meanwhile, it’s best to mix warm water and floor cleaner for tile or vinyl floors. Work your way methodically across the room, focusing on any spills or stains in places where people gather most.

Finally, let your floors air dry or dry them with a clean towel for a gleaming finish that will make your whole space feel fresh and revitalized.

Keep your pet’s space fresh and odour-free.

At DelSuites, we understand the importance of caring for your beloved pets during your stay. That’s why we offer pet-friendly stays, ensuring that your furry companions can join you on your travels without any hassle.

But, while we know that bringing our pets along can make travel more fun, they can also leave behind some not-so-pleasant smells. Keep your pet’s space clean and odour-free by staying on top of regular maintenance.

Scoop the litter box daily and change the litter as needed. For cages or enclosures, remove any bedding or substrate and clean the area with a pet-safe cleaner. Wash food and water bowls regularly to prevent bacteria buildup, and don’t forget to give your pet’s toys a good scrub, too.

Clear out the excess (and expired) stuff.

It’s time to say goodbye to clutter and make room for a fresh start. Tackle one area at a time, whether it’s a closet, drawer, or shelf. Sort through your belongings and set aside items that you no longer use or need.

“Does this spark joy?” as Marie Kondo suggests. Be ruthless and ask yourself if each item still serves a purpose. Donate gently used items to charity or sell them online to give them a new home.

As you declutter, don’t forget to check expiration dates on food items, medications, and household products. Dispose of anything past its prime to make space for fresh, functional replacements.

With each item you clear out, you’ll create a more organized and stress-free environment that’s ready to embrace the season ahead.

Clean appliances inside and out.

It’s time to give your appliances some TLC. Unplug them and remove any removable parts, such as shelves or drawers. Wash these parts with warm, soapy water and set them aside to dry.

Next, use a multipurpose cleaner to wipe down the interior of your appliances, paying special attention to areas prone to spills and stains. For stubborn messes, a mixture of baking soda and water can work wonders. Remember to clean the exterior surfaces as well, using a suitable cleaner for each material. 

Source: Pexels

Party up your spring cleaning! 

Who says spring cleaning has to be a chore? With a party vibe, you can spice up your spring cleaning routine – solo or with the family.

Turn up the tunes with your favourite cleaning playlist to keep the energy high and the motivation flowing. Make it a fun challenge to see how much you can accomplish before the next song ends. Take turns being the DJ and let everyone pick their personal tunes to keep everyone entertained while they tidy up.

With the right music and a positive attitude, you’ll find that spring cleaning can be a surprisingly enjoyable and productive experience. 

Spring into Happiness with DelSuites

Ready to get started? With your spring cleaning journey at DelSuites, a fresh, inviting space is just a plan away. Plus, with our pet-friendly stays, your furry friends can join in, too. Our Guest Services team is here to assist whenever you need.

With our furnished short-term rentals across the GTA, you can be sure that every stay with us will match your specific needs. Take a moment to explore our website, where you’ll find a range of luxurious accommodations to suit every taste.

If you haven’t stayed with us yet, don’t miss out! Contact us today to set up a reservation, and make your stay in Toronto truly spectacular.

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