There’s a loosely kept secret among places like restaurants, hotels, offices and other hip, chic establishments that see lots of foot traffic, and it’s all of three letters long: L-V-T. This sleek acronym stands for “luxury vinyl tile,” never to be confused with the linoleum that your Aunt Gladys had in her kitchen in the late ’70s and early ’80s. No, this is full-fledged, fashionable flooring with versatile performance and function in all the hottest visuals.

Savvy homeowners have also caught on to the secret, and the vinyl flooring sector of the flooring industry is booming as people realize that some of their favorite non-vinyl looks are actually LVT. The realism is unbelievable thanks to technological innovation and plank formats that mirror the trendiest wood, stone and tile styles. Plus, the price point makes LVT a great choice for updating your home without maxing out your budget. Ready for some more insider knowledge? These are some of the most popular ways you can use LVT in your stylish home.

Wood-look LVT

Luxury vinyl options have quickly caught up to laminate wood visuals in popularity since they are just as realistic looking, more versatile, and easier to maintain. True hardwood is not a perfect fit for bathrooms, kitchens, and basements where there are frequent spills and moisture, but LVT’s waterproof qualities bring rustic, natural charm to these tricky areas.

Stone-look LVT

It’s simply amazing the way LVT can mimic gorgeous, timeless, natural stone. Marble, travertine, tile, concrete, brick—all of these looks can be achieved for a much lower cost with stone-look LVT. Also, installing LVT is a much quicker process and requires zero messy or tricky grout that takes more effort to keep clean over the years.

Plank & Tile Size

One of the main reasons you may mistake LVT for the type of flooring it mimics is the actual shape of LVT tiles. Longer, wider plank sizes give LVT the popular wood visual, while larger, square vinyl options provide the look of a real stone floor. These formats allow today’s vinyl flooring to create a luxurious-looking floor that older, outdated vinyl styles could not. Larger LVT planks and tiles make rooms look bigger, modern and elegant.

LVT Color Trends

For 2017, think modern, rich colors when it comes to LVT trends. Deep espresso brown is a super-popular wood shade, and LVT can help you get this look for a fraction of the hardwood price tag. Gray flooring has been a huge style trend, and gray LVT in either a stone or wood look is a perfect modern update for your home. On other end of the spectrum, white marble-look LVT and coastal, white-washed wood-look LVT are smart ways to enhance the luxurious feel in your guest and master bathrooms.

LVT floors are so easy to install that they allow homeowners to get extra creative when it comes to the patterns and angled layouts of the tile.

Chevron & Herringbone

These similar, classic patterns are back in a major way to add interest and depth to your long entryways, hallways and bathrooms. Typically using longer planks, you can create chevron points at an angle. A stacked, zigzag herringbone pattern is also incredibly easy to create with LVT.

So as you can see, the “luxury” in LVT is no misnomer. This flooring choice presents homeowners and designers with tremendous potential for creating striking, unforgettable homes. Durability, realism, beauty, warmth, waterproof—it’s clear LVT will continue to grow in popularity. Whether or not you decide to share the secret with others, well, that’s up to you!