Eight trends for holiday lets in 2024

2023 has been a great year for Beach Retreats, and we look forward to continuing our successes in 2024, whilst tackling the challenges that an ever-changing industry poses.

We take a deep dive into the holiday letting trends for the coming year, sharing our insight into how we can maximise bookings for your retreat.

Technology

The march of AI continues (but we might not realise it).  RV wrote a really valuable overview for us recently –  outlining some of the emerging technologies which are starting to shape guest experiences, marketing and revenue management.

The climate

Changing weather patterns are affecting travel plans in Europe as high summer temperatures in the Mediterranean impact appeal –  and northern Europe will see the benefit.  Currently 3% of our visitors are from overseas, mainly from the near continent.

Economics

Is inflation on the way down? The economic climate has been very challenging for the hospitality industry in 2023, with rising inflation impacting mortgages and the cost of everyday goods and services. Mintel are predicting positive trends in domestic tourism from 2025.

Politics

Will we see a change in government in 2024? And how will a general election affect demand and booking patterns?

Planning

The threat (or promise) of short let legislation in England will be a key conversation topic in 2024.  Elsewhere in Europe and the UK, legislation has affected supply with many lets leaving the market both in leisure and urban locations. We see this as a positive for professionally run lets, complying with best-practice safe and legal procedures, delivering consistent and high standard guest experiences.

Tax

From January 2025, OTAs (online travel agents) and letting agents like ourselves will be obliged to supply HMRC and owners with revenue data from the past 12 months. We’re awaiting the detail of what revenue data exactly will be required and will keep you updated.

Brand Cornwall

Cornwall remains the UK’s most popular destination for leisure travel and staycations – think beaches, coast paths and good food and drink.  Re-discovering the area, the coastal walks, the secret beach pop ups, new restaurants and old favourites will be a theme for 2024 travellers.

Guest experience

What are guests looking for in 2024 and what will drive bookings?

Supporting local economies allows holidaymakers to give something back when staying, especially after a year in which housing shortages for locals has been such a talking point in 2023. Using our digital guest guides to facilitate those connections at a hyper-local level allows guest to travel in a more sustainable way.

Dipping into work emails, and the blurring of work and leisure is here to stay. A dedicated work space and reliable fast broadband are a must.

Slow travel, authentic experiences, resetting and re-connecting, wellbeing and mindfulness still resonate with travellers. Spending time with loved ones at a slower pace of life, an opportunity to make memories, enjoy passions and maybe a few treats mean more than ever.

Got any questions about letting your property? Get in touch and we’ll see how we can help.