:
Europe: Holiday rental group Awaze increased EBITDA to €42 million during 2025, while gross accommodation revenue remained unchanged at €1.4 billion.
The owner of cottages.com, Hoseasons, NOVASOL and James Villas reported net revenue of €378 million, down 1.3 per cent from €383 million in 2024.
Awaze said EBITDA increased by 20 per cent from €34 million to €42 million, supported by higher direct bookings, controlled marketing expenditure, cost reductions and favourable currency movements.
The figures supplied by the company have been rounded, as the reported totals of €34 million and €42 million would otherwise represent an increase of approximately 24 per cent.
Awaze remained loss-making during the year, although its pre-tax loss narrowed by 32 per cent from €50 million to €34 million.
Net cash generated through operating activities increased by 12 per cent to €37 million, while capital expenditure fell from €17 million to €15 million following the completion of the group’s single technology platform.
Direct reservations accounted for 72 per cent of bookings, one percentage point higher than in 2024. Awaze also said more than half of its revenue was generated by repeat customers.
More than 90 per cent of the properties marketed through its brands were listed exclusively with the group. Guest net promoter score increased by six points to 55.
Awaze launched new mobile applications in May 2025, which have attracted approximately 500,000 users. The group is also investing in artificial intelligence and machine learning to support booking conversion and operational efficiency.
The company relaunched James Villas in the UK during the year, offering more than 5,500 properties across mainland Europe.
Matthew Price, CEO of Awaze, said: “We delivered a 20 per cent increase in EBITDA and strong operational cash generation.”
Awaze said trading momentum continued during the first half of 2026 and expects to deliver further profit and operating cash growth during the full year.
The group has also launched cottages.com and NOVASOL applications within ChatGPT, allowing customers to search live UK availability through the platform.
Awaze said cottages.com had achieved Q3 occupancy of 64 per cent, compared with 60 per cent across the wider UK market. It did not provide the source or methodology for the market comparison.
Highlights
- Awaze reported gross accommodation revenue of €1.4 billion for 2025, unchanged year on year.
- Net revenue declined by 1.3 per cent to €378 million.
- EBITDA increased to €42 million, which Awaze reported as 20 per cent growth.
- The group’s pre-tax loss narrowed from €50 million to €34 million.
- Operating cash inflow increased by 12 per cent to €37 million.
- Direct bookings accounted for 72 per cent of reservations.
- More than 90 per cent of properties were exclusively listed with Awaze brands.
- James Villas relaunched with more than 5,500 properties across mainland Europe.
