šŸ  What Are The Most Important KPIs For Your Holiday Let?

And what do Key Data and AirDNAā€™s latest reports tell us about the outlook for this summer?

Author

Phil Jackson
June 01, 2024

šŸ‘‹ Welcome to the 10+ new subscribers who have joined our community this week. You are most welcome.

This week we have a good amount of stats for you which I hope provides some food for thought in relation to your booking performance and outlook for the months ahead.

See you next Saturday at 5pm?

Phil

Founder, My Holiday Guide

IN THE NEWS

What impact will the general election have upon the proposed abolition of FHL Allowances and Statutory Registration proposals?

Nobody currently knows however we will keep you posted on the different parties stance within their manifestos and other published news.

Key Data have released their 2024 quarterly report for the summer. This provides a view of the last 3 months as-well as a projection for the next 3 months.

Their view of April doesnā€™t read well which reflects the sentiment from many hosts. RevPAR (Revenue Per Available Room or Rental) for April was significantly down compared to April last year however this also reflects the Easter break being earlier this year.

On a more positive note, RevPAR for the next three months is pacing well ahead of this time last year.

Similarly to Key Data, AirDNA (a dynamic pricing and data provider) have released their Europe wide March/April review which also includes an outlook for the summer.

Within their report they provided data combining March and April; allowing the movement of the Easter break to be normalised, resulting in RevPAR showing a slight increase compared to the same period last year.

For the majority of European countries (including the UK), although occupancy rates are down YoY, ADR (Average Daily Rate) & RevPAR are up. How does this compare with your experience?

There appears to be good news for the summer with AirDNA seeing a 18% increase in summer demand for the UK compared to the same time last year.

You can read AirDNAā€™s full report here.

Other News

  • SuperControl are hosting a ā€˜South of Scotland Self-Catering Summitā€™ on June the 13th with talks from Key Data and ASSC. You can book your ticket here

  • The consultation period has just ended for proposed amendments by the Scottish Government to the holiday let licensing scheme. These ā€˜technicalā€™ include :

    • Licences to be transferred to a new host, such as when accommodation is sold

    • Prospective hosts building a new short-term let to apply for a provisional licence before construction is complete

    • Hosts to apply for a maximum of three licence exemptions, allowing them to host for up to six weeks per calendar year without a licence

  • Social housing providers claim OTA platforms are refusing to cooperate with requests to remove illegally listed holiday lets

LISTING PERFORMANCE & GROWTH
Tips and strategies to enhance the visibility and attractiveness of your holiday let.

What Are The Most Important KPIs For My Holiday Let?

Within our newsletter we often refer to Key Performance Indicators, but which are the most important ones for your holiday let and how are they calculated?

The most commonly highlight KPIs for hosts to pay attention to are:

  1. Occupancy Rate

  2. Average Daily Rate (ADR)

  3. Revenue per Available Room/Rental (RevPAR)

  4. Average Length of Stay (ALOS)

  5. Cancellation Rate

Read our brief article on how these are measured and why they are important alongside having a holistic approach to your holiday let performance.

FEATURED RESOURCE - BROUGHT TO YOU BY WHO GIVES A CRAP
Highlighting useful tools and resources for your holiday let.

Who Gives A Crap toilet paper have been named #2 most sustainable brand by Which? subscribers.

šŸ§» Plastic free rolls

šŸ§» 100% recycled or bamboo sheets

šŸ§» Soft and strong

šŸ§» 50% of profits donated

Their toilet wrappers are 100% recyclable and are a statement in their own right, so give your guests the opportunity to compliment you on your toilet paper choice!

Tap below to purchase toilet paper that's good for the world AND your guests bum!

SAVINGS
Here's a quick round up of discounts and deals we are aware of from providers to the holiday let industry.

INTERIOR DESIGN
Interior design inspiration and decor tips.

How to make your living room look bigger: 7 tips to fool the eye

Interior designers reveal all...

www.housebeautiful.com/uk/decorate/living-room/a46567779/make-living-room-look-bigger

6 simple interior design 'tweakments' you can make that will have a big impact

Sometimes, all it takes is a new throw pillow or a fresh lick of paint to transform an entire room

www.homesandgardens.com/interior-design/interior-design-tweakments

PROPERTIES OF THE NEWSLETTER
We all love looking at and getting inspiration from other properties so hereā€™s our top pick for this edition.

The Hobbity Treehouse | Kent-Cottage-Holidays.co.uk

Kent Cottage Holidays presents The Hobbity Treehouse!

kent-cottage-holidays.co.uk/the-hobbity-treehouse

Leopoldina

Once the stables to Sandridge Park and now a harmonious family home with a heated pool in Devon's Stoke Gabriel, this grand Italianate manor was the creation of John Nash, architect to the Prince Regent.

www.uniquehomestays.com/self-catering/uk/devon/totnes/leopoldina

NO FOMO
Missed last weeks newsletter? Hereā€™s one thing you might like.

How to make your holiday let cyclist friendly

In last weeks newsletter we delved into how you can make your holiday let cyclist friendly.

Click on the link below to read the full article for some top tips and inspiration.

You can read the full article below:

SHARE AWAY
Do you find our newsletter useful? Feel free to forward it to your host friends so they can benefit too.

If a friend sent you our newsletter, you are welcome to subscribe to not miss next weeks edition.