For many Nigerians returning home for the festive season, the usual excitement of securing a comfortable short-let apartment has turned into frustration. This December, a growing number of diasporans are choosing hotels over short-let rentals, citing booking prices that many describe as spiralling beyond reason.

December in Nigeria is usually marked by packed airports, sold-out events, and bustling nightlife, especially in cities like Lagos, Abuja, and Port Harcourt. The rush normally brings a windfall for operators in the hospitality sector, with short-let apartments long favoured by visitors who prefer extra space, privacy, and a home-style experience. This year, however, that appeal seems to be fading.

Across social media platforms such as X, Facebook, and TikTok, users have shared stories of shock at nightly rates that now climb as high as ₦700,000 in some areas. Many complain that short-let pricing has outpaced hotel rates while offering fewer perks. Unlike hotels, which sometimes include complimentary meals and basic services, short-let bookings often attract additional fees such as cleaning and service charges, further inflating costs.

Lifestyle creator Sisi Yemmie captured the mood online when she said she opted for a hotel instead of dealing with what she described as short-let “drama,” insisting that hotel rooms now offer better overall value. 

Big Brother Naija star Leo Da Silva echoed the sentiment, noting that luxury apartment prices in areas like Victoria Island and Ikoyi have reached levels that seem unrealistic, predicting that hotels would gain more bookings as short-let providers struggle to fill rooms. Fellow reality star Nina also highlighted what she called excessive pricing, revealing that she paid ₦4.2 million for a 13-night stay in Lekki, while some listings reached as high as ₦700,000 per night.

Other travellers share similar experiences. Social media user Tony Abah said several of his friends have completely ruled out Airbnb or similar short-term rentals after past disappointments in Lagos, and all are staying in hotels this December.

Industry insiders say the shift in consumer behaviour reflects deeper challenges facing the short-let market. Real estate agent Jennifer Ike, who has worked in the sector for five years, said demand this festive season is unusually low. She attributes the slowdown to economic pressures, rising insecurity, and unchecked price increases by some property owners.

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According to Ike, many managers are under intense pressure to secure bookings in a difficult climate, while investors are not always providing adequate support. She added that inflated rates undermine the main reason people choose short-let apartments in the first place, which is value for money, describing the current price hikes as unjustifiable.

The contrast is striking when compared with 2024 figures, when “Detty December” revenues were strong across Lagos hospitality businesses. A report by advisory firm MO Africa Company Limited covering November 19 to December 26 recorded heavy traffic from local and international visitors. Hotels earned about ₦54 billion from around 15,000 bookings in December alone. 

Short-let apartments generated ₦21 billion from nearly 6,000 stays, despite higher prices and lower demand, with the average nightly rate around ₦120,000. Lagos’ top 15 nightclubs pulled in ₦4.32 billion during the period, while beaches and resorts accounted for roughly 70 percent of the ₦4.5 billion earned from recreational services.

This year’s festive season, however, paints a different picture. As prices climb and budgets tighten, more visitors are returning to the traditional comfort of hotels, leaving many short-let apartments struggling to replicate the boom of past Decembers.

Meiza Nigeria