Staycations here to stay – holiday owners set for another record-breaking year
Following record-breaking years for staycations in 2020 and 2021, with people urged to stay local as a result of the pandemic – or prevented from going abroad by travel restrictions – 2022 looks set to be another excellent year for holiday let owners.
Despite travel restrictions easing across the globe, UK holiday let owners are preparing for another busy year as bookings for staycations continue to surpass pre-pandemic levels. That’s according to holiday home rental agency Sykes Holiday Cottages, which has revealed that bookings so far this year are up 22% versus the same point in 2020. What’s more, there has been a 158% rise in bookings compared to the same period last year.
In a similar vein, bookings for the upcoming February half-term (taking place this week) are up 27% compared to February 2020, with more Brits than ever looking to holiday at home during the school break. Britons are, in particular booking staycations in Whitby (famous for its fish and chips and connections to Dracula), Ambleside and Bowness-on-Windermere, with all three of these locations witnessing the greatest volume of bookings for 2022.
How much are holiday let owners earning?
Sykes’ income data tells us that holiday homeowners earned on average £28,000 annually per property last year, compared with almost £21,000 in 2019. The company believes this figure is set to rise yet again this year as bookings and occupancy continue to soar. The firm also revealed the top-earning locations for holiday homeowners last year, with Dorset, the Cotswolds and the Peak District taking the top three spots, and Devon and Somerset rounding out the top five.
Does the future for staycations look strong?
Elsewhere, in a survey of 1,000 UK holiday goers, Sykes discovered that well over half of Brits (55%) say they will still opt for UK staycations even when all international travel restrictions have lifted.
In fact, Brits are, on average, planning to take two staycations in the next 12 months. Nearly half (46%) say that limiting their environmental impact is a key consideration when choosing a UK break over foreign travel.
Ease and convenience (52%) and getting to enjoy the outdoors (72%) were cites as other reasons for opting to holiday closer to home.
Other factors for opting to holiday closer to home include the ease and convenience (52%) and getting to enjoy the outdoors (72%).
“Bookings for our holiday lets this year are through the roof, showing that the staycation boom is here to stay,” Graham Donoghue, chief executive at Sykes Holiday Cottages, said. “While bookings for February half-term have been record-breaking, we expect Easter and summer to be no different, and bookings are already coming in for autumn and winter thick and fast.”
He added: “With the trend for staycations going nowhere, the attractiveness of holiday letting as an investment opportunity continues to go from strength to strength. We’ve witnessed a strong pipeline of enquiries in recent months from those new to holiday letting or wanting to rent out a second home as many look to reap the financial rewards on offer.”