EU: Booking data which tracks past and future short-term rental reservations on ALTIDO shows that travel sentiment is increasing with ADR predicted to exceed Q2 2019 rates this year.
Data from three of ALTIDO’s key markets (UK, Portugal and Italy) highlight the following trends:
• There has been an increase in US travellers visiting the UK, rising from six per cent in 2021 to 19 per cent in 2022.
• Occupancy for the whole of Portugal is 66 per cent higher than the average occupancy of 2022 and 2021. The top five nationalities booking Portuguese properties on ALTIDO this year include US, France, Germany, UK and Brazil.
• Bookings in Italy are 78 per cent higher in 2022 than in the previous two years, and is proving popular amongst US and UK travellers. Domestic travel is also rebounding, up 34 per cent.
Other key observations on ALTIDO’s platform include short lead times, with many reservations being made close to the time of stay.
Average daily rate (ADR) is also growing, with data showing similar patterns to pre-pandemic levels. In Q1 2019, the ADR stood at £108 which rose to £139 in Q2 2019. This year, ADR is expected to reach £188 per night.
Will Parry, CEO of ALTIDO, said: “At the halfway point of the year, we are certainly seeing a strong bounce back of the European market reflected in ALTIDO’s revenue figures. In the first half of 2022, our gross booking value (GBV) was approximately £12 million with a revenue of £4.5 million (+133 per cent on last year). As we move into peak season, numbers are predicted to rise with a total annual budget for GBV of approximately £40 million and revenue of around £13 million, up 105 per cent on last year. If the market remains strong for the second half of the year then we should exceed both these numbers.”
Parry added: “Although we are facing challenges in Europe in the travel industry and more generally with the cost of living crisis, it’s clear there’s still a healthy demand from consumers for the time being.”
ALTIDO manages over 2,000 properties and rooms including apartments, townhouses, hotels and serviced apartments. Earlier this year, the company was acquired by DoveVivo.