The rise of globalization and advancements in technology have made business travel an essential part of corporate life. However, traditional hotel stays can often be expensive and lack the comfort and convenience of a home-like environment. That’s where short-term rentals come in, offering a revolutionary alternative for business travelers in Luxembourg.
Short-term rentals are fully furnished apartments or homes that can be rented for a short period, typically ranging from a few days to a few months. They offer a range of benefits over traditional hotels, including cost savings, privacy, and flexibility. In Luxembourg, short-term rentals are rapidly gaining popularity among business travelers due to their numerous advantages.
How Short-Term Rentals Are Revolutionising Business Travel in Luxembourg
The global business travel industry is projected to reach €200 billion in 2022, with short-term rentals gaining popularity among business travelers, according to a report by the Global Business Travel Association (GBTA). In Europe, 37% of travel buyers reported an increase in the use of short-term rentals in the past year.
In Luxembourg specifically, the number of available short-term rental properties has increased by 65% since 2017, according to data from AirDNA, a company that analyzes the vacation rental market. The average daily rate for a short-term rental in Luxembourg is €126, compared to €146 for a hotel room, according to data from Airdna. These cost savings can be significant, especially for business travelers who need to stay for an extended period.
In addition to cost savings, short-term rentals offer a level of comfort and convenience that hotels cannot match. Most short-term rentals are fully furnished and equipped with modern amenities, such as Wi-Fi, kitchen appliances, and entertainment systems. Business travelers can enjoy a home-like environment with the added benefit of services such as housekeeping and laundry.
Flexibility and Privacy
Flexibility and privacy are crucial when it comes to business travel. With short-term rentals, business travelers have the flexibility to choose the location, size, and amenities of their accommodation. Short-term rentals also offer privacy, allowing business travelers to work and relax without interruption.
One of the unique benefits of short-term rentals is that they offer a local experience. Business travelers can choose a rental that is located in a neighborhood that suits their interests and needs, providing an opportunity to experience the local culture and lifestyle.
Business travelers are increasingly seeking out unique and immersive travel experiences, with 71% of respondents in a survey by the GBTA stating that they prefer to stay in alternative accommodations rather than traditional hotels for business travel. LuxFlat, one of the leading short-term rental platforms, conducted a survey that found 80% of business travelers reported that they prefer to stay in LuxFlat for the ability to live like a local and experience the destination from a different perspective. The same survey found that business travelers who use LuxFlat for work trips are more likely to extend their trip for leisure purposes, with 60% of respondents saying they have done so in the past.
Short-term rentals are revolutionizing business travel in Luxembourg. They offer a cost-effective, comfortable, and flexible accommodation option for business travelers. With a range of benefits over traditional hotels, short-term rentals are quickly becoming the preferred choice for business travelers who want to make the most out of their stay in Luxembourg.