At Urbandoor, we find there are many reasons why business travelers are more frequently turning to furnished apartments over hotels. Among the top are:
- Longer trips: Businesses are becoming more global which can mean longer work trips for overseas visits. Additionally, it’s becoming more common for professionals to tack on days to a work trip for personal reasons. Hotels are great for a couple of nights, but travelers can grow weary of a single room after a while.
- Lower costs: Hotel costs can be steep, especially in dense urban markets, for longer periods of time. Companies or individuals who are cost-conscious, are increasingly turning to alternative accommodations to fit the budget requirements.
- Ease of access: It’s getting easier to access furnished apartments. What traditionally has been a layered, manual supply chain is becoming more digital and transparent. When booking an apartment is as easy as booking a hotel — at the same or less cost — more people choose the apartment.
To see some industry numbers at large, check out this great article by Skift.
How do alternative accomodation costs compare?
To better understand comparative pricing, we took a look at how Urbandoor marketplace pricing data and compared against alternatives. Using the Business Travel News’ Corporate Travel Index Calculator, we were able to compare the night rates of similar quality hotel rooms against a fully furnished apartment across five different markets. We discovered that furnished apartments on Urbandoor were less costly than comparable hotel rooms.
We think these savings are pretty compelling, but please note that in certain municipalities, such as San Francisco, there are legal restrictions on minimum stay length. To see how much a furnished apartment could cost in your area, head to the Urbandoor marketplace and see for yourself!
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