European Vacation Rental Performance: Summer 2022 Statistics
To accurately analyse your vacation rental property performance, you must look at local market data.
When you know how properties in your area perform, you’ll be able to set the correct nightly rates and improve your vacation rental revenue management strategy.
So, to help you do this, we’ve gathered exclusive data from Rental’s United’s Elevate and put together fact sheets about property performance in popular European destinations.
Each fact sheet includes information about ADR, LOS, booking window, cancellation rate, cancellation windows, and more.
In this post, we summarise some of the highlights and key takeaways for each country.
Download our Q3 fact sheets for detailed insights, including the top-performing channels in each destination.
Vacation Rental Performance in Spain
Our Spain data covers Barcelona, Madrid, Seville, and Mallorca, and we analysed reservations made between July 1st and September 30th, 2022.
Here are the key insights:
- ADRs in Barcelona stayed consistent across all booking windows — Rates stayed high as check-in got closer. You may be able to sell nights either at a standard or slightly reduced rate.
- Rates in Madrid were also consistent — ADRs dropped by less than 10% after the 8-14-day window closed.
- Seville had a higher rate of
When is the best time to book a holiday?
January is historically the busiest month for holiday bookings. Many travellers try to take advantage of fresh starts and new beginnings by planning their holiday getaways early in the year. This backed by popular travel company TUI who experience a surge in bookings every January, particularly amongst European travellers who are fighting the winter blues. Although January can typically be a slow month in terms of tourism, this means there tends to be more discounts available than usual; and prices are often lower than they would be at any other time of year.
Generally speaking, the earlier you book – the better. This way, you’ll have plenty of time to compare prices and find good deals before they disappear. The same goes for off-season travel. Booking ahead can is one of the best ways to book a cheap holiday. We recently summarised the most popular travel trends of 2022, and found that guests are showing a growing preference for booking trips further in advance post-pandemic.
Another great way to save money while booking your holiday is to keep an eye out for deals and discounts from airlines and hotels. Many businesses offer special discounts throughout the year, which could result
Short-term rental predictions for 2023
After almost two years of being indoors and many people working from home, more and more travellers are choosing to go off-grid and focus on their health and wellness. Booking.com found that in 2023, 55% of travellers want to go off-grid and 36% would choose to spend no time using WiFi. A further 42% of guests want to go on a break which focuses on their mental and physical health, which could include retreats such as meditation and cookery courses. Hotels.com also revealed that whilst almost half of global travellers are ‘more open to wellness breaks than ever before’ – the quirkier the better going forward. The booking site experienced a 30% increase in demand for wellness trips in 2022, with alternative getaways such as forest bathing, chakra sessions, food boot camps, and fruit harvesting becoming increasingly more popular. Be sure to let guests know about wellness experiences in your area, making guests aware of local attractions and information in your listing can help to attract more bookings.