Corporate travel is a balancing act between cost effectiveness and results. Whilst a business trip can be a great motivator and perk for employees, managing costs is essential to protect your ROI. There a several elements of a business trip that need booking in advance, from accommodation to travel and transport.
Corporate accommodation is often the largest expense, certainly for extended trips – so finding ways to book more cost effectively will cut your costs remarkably. Serviced apartments and hotels are the two most common forms of corporate accommodation, but knowing which is actually more cost effective has been a guessing game – until now.
SilverDoor, who operate a range of corporate serviced apartments in London and around the globe, have created an infographic to provide some insight.
How does staying in a serviced apartment compare to a hotel?
Serviced apartments can offer a unique business travel experience, providing employees with more space, functionality and privacy than a hotel room. While a hotel can supply the basic amenities, employees travelling for longer periods often benefit from larger living spaces. A serviced apartment can allow a traveller to use different areas for different activities – for example, a separate working, living, cooking and sleeping space.
As outlined in the infographic, the increased functionality of a serviced apartment means that overall costs can be reduced because employees don’t need to eat out every night or hire a separate working space.
Making a decision between a hotel and serviced apartment will depend on other factors like availability and trip location too. It may make sense to opt for a hotel room for trips where an employee is travelling continuously or staying in locations for shorter periods.
So, if you’re looking for corporate accommodation in the future, why not consider serviced apartments to make your business trip more cost effective for longer trips?