Do this two ends actually compete against each other? Well, not in all cases. But in cases where a person has to travel for a long period of time, say about a year, there could be the conflict between renting an apartment or booking a hotel.
Without much research, it can be estimated that the majority of people who lodge in hotels, anywhere in the world, are travellers on business, investment or some vacation purposes. The rest are most likely couples on a date or honeymoon, and other random cases. Hence, for this majority who are likely to stay a longer period travelling, the conflict between the choice of renting an apartment and booking a hotel room is more relevant.
Staying in a hotel can be very enticing though expensive as a booked room in a hotel entitles its occupant to ready-made bed, furniture, television set and even more. This is one reason most people would resort to booking a hotel for a whole year instead of renting an apartment.
However, booking a hotel is not as cheap as renting an apartment. In fact, the cost of booking a hotel room for a year is more expensive than a one bedroom flat for rent and almost equal to what you spend renting a 3 bedroom flat per year in some parts of Lagos. Since apartments for rent don’t come with ready-made features like beds, furniture, rugs, television set etc., it is expected to be less expensive.
In my opinion, therefore, I suggest anyone who intends going on a long vacation or travelling to a place like Lagos with the intention of staying for about year, to rent a nice apartment instead of booking a hotel for such a long period of time; you can find decent houses for rent on ToLet.com.ng.