🏠 Occupancy level predictions for 2024 & more

With the latest statics from the government showing a slight increase in GDP in November 2023 and with the majority of mortgage companies and banks continuing to offer better mortgage deals, will this lead to a general air of optimism across the country which will in turn provide an upturn in bookings for 2024? Time will tell…

Living on the coast, this is a great time of year for a stroll down the beach and a nice coffee to warm up. I’m afraid I’m not brave enough to go for a dip in the sea though!

Looking forward to catching up with you again next Saturday at 5pm.

Phil

Founder, My Holiday Guide

IN THE NEWS

AirDNA have released their 2023/2024 report which provides some predictions for 2024. Although this is US focussed it is likely that any trends will be similar in the UK.

Here is a summary of their 2024 outlook:

• Demand - Compared to a demand growth of 6.7% in 2023, AirDNA predict a demand growth of 10.7% in 2024

• Supply - 2023 saw the number of available nights grow by 12.8%. AirDNA predict this will slow within 2024 with a predicted supply growth of 10.9%

• Occupancy - Occupancy levels have declined since the highs of 2021. 2024 is predicted to have very similar occupancy levels to 2023 at 54.7%

• Average Daily Rates (ADRs) - AirDNA predict Average Daily Rates to increase by 2.1% within 2024, up from 0.5% in 2023

• Revenue per Available Room (RevPAR) - Within 2023 AirDNA saw Revenue per Available Room decline by 4.9% - The first decline on record. For 2024 they are predicting an increase of 1.9%

You can read their full report here.

To add to the AirDNA news, AirDNA have recently acquired the channel manager platform Uplisting. A sign that they want to offer a broader service to hosts.

Which? have completed a report on the ‘best’ holiday let management companies in the UK following a survey. Who would you rate out of these?

Here are the top 5:

1. The Landmark Trust

2. Classic Cottages

3. Sally’s Cottages

4. The National Trust

5. Rural Retreats

We are all aware of the new licensing rules being pushed across the country. Here’s a BBC article on the current state of registration and licensing in Wales.

An interesting concept. Part of the website offering is to list out homes and owners looking for a pet sitter.

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

With a number of hosts seeing a slower uptake in bookings, you may be considering listing your property on other platforms to expand your reach.

If this is something you are contemplating I have collated a few articles below that talk about listing on multiple platforms.

If you are thinking about what other software tools might help you run your holiday let more efficiently this article lists out a number of apps/websites that could help.

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

• Emma mattresses continue to have their winter sale with up to 25% off

• Dusk have a sale through January with up to 50% off. Use the code JANSALEEMAIL at checkout

• Dunelm continue to have their up to 50% off sale on bedding

• You can get 5% off Hotel Contract Beds if you use the code HCB5 at checkout

• Mitre Linen have a range of bathroom linen on sale with up to 20% off

• Hug At Home have a 15% off sale until the 19th January using the code HUG344 at checkout

INTERIOR DESIGN
Interior design inspiration and decor tips.

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

JUST FOR FUN

Here’s an item to add to your inventory list - A bean barrier!