Saving Money While On the Road or Traveling for Business

Extended travel can be expensive and the last thing you want to do is blow the budget on food.

Consider this: A sit-down meal at a restaurant can cost anywhere from $10-$25 per meal. Multiple that by three meals per day for 30 days straight and you're looking at a food bill of $900 - $2,250! A family of four may not even spend $900 on groceries per month.

Sometimes spending this amount of money is unavoidable because travelers have had little options when it comes to meal time. Most of today's hotels do not provide full sized kitchens, making eating out or room service the norm.

But smart families and business travelers who opt to stay in corporate or vacation rentals are finding it easy to ease the financial burden.

Corporate and vacation rentals are fully furnished and offer a full-sized kitchen will all the amenities of a common kitchen, including a stove top, microwave, fridge, pots and pans, dishes, etc. This is good news for travelers who want to take a bite out of their exploding food budget. They can simply go to the grocery store, buy cereal and milk, cold cuts, spaghetti, hamburgers and prepare their meals themselves.

Since a corporate rental means you won't have to blow your budget on food, you'll have more money in your pocket to enjoy a nice night out or upgraded flight amenities, etc. Score!

Sharing Hotel Rooms with Business Colleagues on the Rise

A May 2009 HR Magazine article reported that more employees are being forced to share hotel rooms with their colleagues when traveling for business. In fact, the article cites a Business Traveler survey that found 14% of employees said they now share a room with a colleague and overall, 24% of business travelers have had to share a room with a colleague at some point in their career. This forced room-sharing is another way companies are trying to cut back on hefty travel expenses, particularly in our flailing economy.


But room-sharing often creates undo stress for someone who is away from home. Things like snoring, bathroom sharing and differences in bedtime schedules can create ill-will and stress between professional colleagues.

Instead of bunking two business associates in the same small hotel space, a company could, oftentimes for less cost, put up their traveling employees in a corporate housing rental. Corporate housing units have shared living space, but separate bedrooms and bathrooms, giving each employee their own personal space. Corporate housing can be a way companies cut back without sacrificing their employee's well-being in the process.

Here's a breakdown of how travel costs stack up when comparing hotel stays with corporate housing:

Lodging: A company could pay $75-$300 per day for a single employee to stay in a studio-sized hotel depending on location. Double that cost for two employees and a company could spend more than $9,000 per month per employee. On the other hand, the average corporate housing rental for a one-month in 2008 across the United States and averaged between all unit sizes is $3,500. Two business associates could share a two-bedroom corporate rental - and each would get their own private space and only sharing common spaces like the kitchen and TV area.

Food: Breakfast for one employee in the average hotel can cost $20-$30 per person per day. Dinner can cost $25-$50 if the employee dines out. These expenses can quickly add up over the course of three meals per day for an entire month - double for two employees. Corporate rentals include a full-sized kitchen with dishes, pots and pans and appliances. This enables traveling employees to eat-in often rather than dish out tons of cash for expensive room service and restaurants.

Hidden Fees: Many hotels charge $10-$25 per day just for Internet usage alone. Plus you have to tip the busboy, the room service attendant, and many others as well – tons of hidden costs. Standard corporate housing fees already include Internet charges and complimentary long distance and there are no tips required when an employee stays in a private home.

Companies should always look to other alternatives to save money before sacrificing an employee's personal space in the name of cost-cutting. Corporate housing is an underutilized option that should be considered - and can be a long-term solution for HR departments looking to cut corners in both good and difficult financial times.