UK: February’s roadmap announcement sparked an increase in UK short-term rental reservation volume by 88 per cent compared to the reservation volume one week prior, according to short-term rental property management platform Guesty.
The volume of bookings made between 22-28 February 2021 that were observed by Guesty was 160 per cent more than the average weekly reservation volume seen in the UK throughout all of the Covid-19 pandemic to that point. The majority of those reservations were made for the summer season.
In total, UK 2021 short-term rental summer reservation volume [June, July and August] was 36 per cent higher than UK 2020 summer reservation volume. According to Guesty’s data, this is directly correlated to the UK’s recent roadmap announcement as last month’s pre-announcement, and summer reservation volume in 2021 was 35 per cent lower than what was seen in 2020.
Further UK observations by Guesty included:
- June 2021 shows 20 per cent less reservation volume compared to June 2020
- July 2021 shows 14 per cent more reservation volume compared to July 2020
- August 2021 shows 53 per cent more reservation volume compared to August 2020, highlighting the UK population’s desire to travel in August
Summer 2021 UK reservations will come at over 50 per cent more on average per night depending on the month, compared to the prices in 2020.
- June 2021 average nightly rates sat at £184/night, up 58 per cent from June 2020
- July 2021 average nightly rates sat at £222/night, up 53 per cent from July 2020
- August 2021 average nightly rates were the most pricey, sitting at £229/night, up 34 per cent from August 2020
Meanwhile, in the United States, US 2021 summer reservation volume [June, July and August] was 110 per cent higher when compared to the 2020 summer season.
Further evidence pointing to a travel recovery stateside includes
- Memorial Day weekend reservation volume is 71 per cent higher today, compared to what was seen in 2020 for the holiday at this time last year. Stays will be 28 per cent longer compared to 2020 [four days] and 26 per cent more expensive, at $327/night on average.
- Fourth of July weekend reservation volume is 50 per cent higher today, compared to what was seen in 2020 for the holiday at this time last year. Stays will be around the same length as they were last year [five days] but cost 41 per cent more, sitting at $403/night on average.
- The noticeable percentage increase in pricing for both holidays can be attributed to the low prices last year during Covid. Prices will continue to fluctuate as we get closer to both holidays.