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
On the Nigerian Exchange (NGX) Limited last week, investors transacted 3.648 billion shares worth N220.568 billion in 251,861 deals compared with the 3.821 billion shares valued at N154.393 billion traded in 258,567 deals a week earlier.
Analysis showed that financial stocks led the activity chart with 2.899 billion units sold for N147.360 billion in 106,603 deals, accounting for 79.48 per cent and 66.81 per cent of the total trading volume and value, respectively.
Services equities recorded a turnover of 164.914 million units valued at N3.615 billion in 16,375 deals, and the consumer goods shares exchanged 157.451 million units worth N7.777 billion in 27,950 deals.
First Holdco, Zenith Bank, and Fidelity Bank were the busiest stocks for the five-day trading week, trading 1.745 billion units valued at N121.828 billion in 31,053 deals, contributing 47.85 per cent and 55.23 per cent to the total trading volume and value, respectively.
Business Post reports that 60 equities appreciated during the week versus 22 equities in the previous week, 28 shares depreciated versus 57 shares of the preceding week, and 58 stocks closed flat versus 67 stocks of the previous week.
International Breweries gained 40.00 per cent to trade at N13.30, RT Briscoe expanded by 32.02 per cent to N13.40, Livestock Feeds improved by 28.47 per cent to N9.25, First Holdco chalked up 25.82 per cent to close at N69.20, and Abbey Bank rose by 23.65 per cent to N9.15.
On the flip side, McNichols lost 28.57 per cent to finish at N5.00, Thomas Wyatt gave up 11.64 per cent to quote at N2.43, Geregu Power declined by 10.00 per cent to N825.70, CAP shed 9.99 per cent to settle at N157.60, and Guinness Nigeria also slipped by 9.99 per cent to N329.00.
Customs Street was under buying pressure last week, making the All-Share Index (ASI) and the market capitalisation close higher by 6.35 per cent to 243,798.76 points and N156.445 trillion, respectively.
In the same vein, all other indices finished higher apart from the growth and sovereign bond indices, which depreciated by 7.43 per cent and 0.02 per cent, respectively.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 2.30 per cent, spurring the NASD Security Index (NSI) to close higher by 96.61 points to 4,296.34 points from 4,199.73 points, and raising the market capitalisation by N57.99 billion to N2.578 trillion from N2.521 trillion.
The market was up yesterday despite a lower activity level, as the volume of securities traded slumped by 94.7 per cent to 1.3 million units from the previous 23.9 million units. The value of securities slipped by 57.2 per cent to N29.2 million from the preceding session’s N68.2 million, while the number of deals executed by market participants increased by 6.7 per cent to 32 deals from the 30 deals carried out on Thursday.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units valued at N6.5 billion in trades, and Central Securities Clearing System (CSCS) Plc with 70.8 million units traded for N4.9 billion.
GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
During the trading day, there were three price gainers and two price losers, led by Afriland Properties Plc, which shed N1.48 to sell at N15.17 per share compared with the previous session’s N16.65 per share, and Food Concepts Plc, which slid by 7 Kobo to close at N2.69 per unit versus N2.76 per unit.
Conversely, FrieslandCampina Wamco Nigeria Plc improved its value by N9.50 to trade at N150.00 per share compared with Thursday’s closing price of N140.50 per share, CSCS Plc went up by N7.95 to N89.65 per unit from N81.70 per unit, and 11 Plc soared by N6.94 to N206.95 per share from N200.01 per share.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited lost its footing by 0.07 per cent on Friday as a result of renewed profit-taking by investors.
The fall happened after Thomas Wyatt and Guinness Nigeria led other price losers group comprising 27 stocks at the market yesterday due to selling pressure.
Thomas Wyatt Nigeria shed 10.00 per cent to quote at N2.70, Guinness Nigeria drowned by 9.99 per cent to close at N329.00, Ikeja Hotel slipped by 9.96 per cent to N42.50, Zichis shed 9.94 per cent to trade at N26.37, and McNichols depreciated by 9.91 per cent to N5.00.
On the flip side, International Breweries gained 9.92 per cent to finish at N13.30, NEM Insurance appreciated by 9.61 per cent to N27.95, Jaiz Bank grew by 6.36 per cent to N9.20, UPDC expanded by 6.33 per cent to N4.20, and Livestock Feeds increased by 6.32 per cent to N9.25.
Business Post reports that investor sentiment remained bullish despite the loss recorded during the session, as there were 27 price decliners and 30 price advancers, representing a positive market breadth index.
Yesterday, market participants transacted 441.3 million equities for N19.4 billion in 44,938 deals compared with the 1.7 billion equities worth N112.0 billion traded in 44,780 deals a day earlier. This showed that the trading volume contracted by 74.04 per cent, the trading value declined by 82.68 per cent, and an uptick in the number of deals by 0.35 per cent.
Access Holdings led the activity chart on Friday after selling 40.2 million shares valued at N1.0 billion, Sterling Holdco traded 30.3 million stocks worth N228.8 million, Fidelity Bank sold 26.3 million equities for N505.6 million, Zenith Bank transacted 22.3 million shares valued at N2.5 billion, and First Holdco exchanged 19.0 million stocks worth N1.3 billion.
During the last trading session of the week, the consumer goods sector rose by 0.49 per cent, the insurance counter increased by 0.06 per cent, and the industrial goods index closed flat, while the banking and energy indices lost 0.78 per cent and 0.52 per cent, respectively.
As a result, the All-Share Index (ASI) shrank by 159.97 points to 243,798.76 points from 243,958.73 points, and the market capitalisation moderated by N103 billion to N156.445 trillion from N156.548 trillion.
