Economy
How Self Catering Holidays Are Changing the Business of Travel
The travel industry is evolving rapidly as more people seek personalized and flexible experiences. One trend that has gained remarkable traction is the rise of self catering holidays. Unlike traditional hotel stays where guests rely heavily on in house services, self catering allows travelers to manage their own meals and schedules while enjoying the comfort of a fully equipped space. This shift is not only reshaping tourism but also influencing how businesses in the hospitality sector operate.
At its core, self catering provides independence. Travelers rent accommodations that come with kitchens and other home like amenities, giving them the freedom to prepare meals, set their own dining times, and live at their own pace. For the modern traveler who values control and convenience, this approach offers a refreshing alternative to structured vacation packages. It combines the best aspects of home living with the excitement of exploring new destinations.
The economic appeal of self catering is significant. For families or groups, eating out for every meal can quickly become expensive. Having the ability to prepare food reduces costs dramatically while still allowing travelers to explore local restaurants at their own pace. This cost effectiveness has made self catering a popular option among budget conscious travelers and also for business travelers who often need longer stays and value practicality over luxury.
Cultural immersion is another reason behind the popularity of self catering. Visiting local markets, purchasing fresh produce, and experimenting with regional recipes creates an authentic connection to the destination. Tourists are no longer passive consumers but active participants in the culture they are visiting. This deeper engagement enhances the overall travel experience and often leaves lasting memories that go beyond sightseeing.
From a business perspective, self catering is reshaping accommodation strategies. Property owners, hoteliers, and real estate investors are adapting by offering short term rentals and furnished apartments that cater to this demand. Online booking platforms have made it easier for travelers to find such options, which has intensified competition in the hospitality industry. Businesses that once focused solely on traditional hotel services are now diversifying their offerings to include self catering units to remain competitive.
For corporate travel, the self catering model provides practical advantages. Business professionals on extended assignments often prefer accommodations with kitchens and living spaces because they offer comfort, privacy, and cost savings compared to hotels. Companies are recognizing these benefits and incorporating self catering stays into their travel policies, which not only reduces expenses but also improves employee satisfaction.
Health and wellness trends have also supported the rise of self catering. Travelers are increasingly aware of what they eat, and having the ability to cook their own meals allows them to maintain healthier diets while on the road. For those with dietary restrictions or specific nutrition goals, this flexibility is invaluable. Businesses in the wellness and food sectors are benefiting too, as travelers actively seek local, organic, and sustainable products during their stays.
Technology has played a vital role in the growth of self catering. With the help of online booking platforms, virtual tours, and customer reviews, travelers can easily choose properties that meet their exact needs. This transparency has increased consumer confidence, driving more people toward self catering options. At the same time, property managers are using digital tools to streamline check ins, manage bookings, and enhance customer service, further improving the experience.
Sustainability is another important factor. Preparing meals in self catering accommodations reduces reliance on single use packaging and lowers food waste. Environmentally conscious travelers see this as a more responsible way of experiencing the world. Businesses that highlight eco friendly practices in their self catering offerings are gaining a competitive edge in an increasingly environmentally aware market.
In conclusion, self catering holidays are not just a passing trend. They represent a structural shift in how people want to travel, blending independence, cost efficiency, cultural connection, and sustainability. For businesses, this evolution presents both challenges and opportunities. Those willing to adapt, innovate, and cater to the modern traveler will find themselves at the forefront of this growing movement. The future of travel is flexible, and self catering is at the heart of that transformation.
By Dipo Olowookere
The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.
This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.
UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.
On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.
Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.
Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.
A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.
This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.
For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.
By Adedapo Adesanya
The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.
At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.
It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.
Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.
Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.
Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.
“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.
Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.
If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.
Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
By Adedapo Adesanya
Oil prices were up on Thursday amid investors’ expectations for the Federal Reserve to cut interest rates, while stalled Ukraine peace talks tempered expectations of a deal restoring Russian oil flows.
Brent crude gained 59 cents or 0.94 per cent to trade at $63.26 a barrel and the US West Texas Intermediate (WTI) crude appreciated by 72 cents or 1.22 per cent to $59.67 per barrel.
The market ticked up on expectations that a US rate cut will support the world’s largest economy and oil demand, after data showed employment is slowing.
Markets are pricing in an 89 per cent chance of a cut when the Federal Reserve meets on December 9-10, significantly higher than rate-cut bets just a couple of weeks ago, according to the CME FedWatch tool.
Support also came as the dollar edged lower for its 10th straight day of losses against a basket of major currencies, making crude cheaper for buyers using other currencies.
Analysts noted that escalating tensions between the US and Venezuela were also supporting prices on concerns of a drop in crude supplies from the South American country, which is a member of the Organisation of the Petroleum Exporting Countries (OPEC).
US President Donald Trump’s administration is ratcheting up pressure on Venezuelan President Nicolás Maduro, signalling the possibility of a US invasion.
The perception that progress on a peace plan for Ukraine was stalling also supported prices, after President Trump’s representatives emerged from peace talks with the Kremlin with no resolution in sight.
Expectations of an end to the war had pressured prices lower, as traders anticipated a deal would allow Russian oil back into an already oversupplied global market..
Meanwhile, Ukraine continued its assault on Russia’s energy infrastructure as it hit the Druzhba oil pipeline in Russia’s central Tambov region, the fifth attack on the pipeline that sends Russian oil to Hungary and Slovakia.
Kpler noted that Ukraine’s drone campaign against Russian refining infrastructure has affected production to down around 5 million barrels per day between September and November, a 335,000 barrels per day year-on-year decline, with gasoline (petrol) hit hardest and gasoil output also materially weaker.
US crude and fuel inventories rose last week as refining activity picked up, the Energy Information Administration (EIA) said on Wednesday.
Crude inventories rose by 574,000 barrels to 427.5 million barrels in the week ended November 28, the EIA said, compared with analysts’ expectations in a Reuters poll for an 821,000-barrel draw.
Fitch Ratings on Thursday cut its 2025-2027 oil price assumptions to reflect market oversupply and production growth that is expected to outstrip demand.
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