The holiday rental industry is experiencing a turbulent year, with varying outcomes across the UK. Russell Beale, who has rented out a Devon coast cottage for 14 years, noted a sharp decline in bookings this year.
“We’ve only had less than 10 weeks of bookings,” he reported, contrasting sharply with previous years. Despite efforts to boost occupancy with discounts and flexible stays, Beale faces uncertain financial prospects.
He attributes the downturn to high living costs and ongoing inflation, which have strained consumer spending.
Welsh cottage owner faces worst year in decades amid declining bookings and lower prices.Across the country, holiday property owners have reported similar challenges. A Welsh cottage owner described 2024 as the worst in three decades, despite slashing prices.
In the Lake District, a hotel manager observed significant gaps in the booking calendar and an increase in last-minute cancellations.
However, not all reports are gloomy. Rebekah England of Bolthole Retreats revealed a 20% increase in bookings for luxury properties, driven by a growing trend for last-minute and flexible vacations.
Susan McCarthy, an independent tour operator, also noted a shift towards higher-end experiences in the Channel Islands.
The sector’s outlook for the remainder of the year remains uncertain, with some hopeful for an Indian summer to help balance the books.