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Holiday Rental Property - UK - June 2019

Covered in this report

Holiday rental property refers to holiday lettings includes cottages, houses, villas, gîtes, chalets, lodges, town/city apartments, flats or just rooms in a house. Self-catering apartments on holiday resort complexes (eg Butlin’s or package resorts abroad) or other types of self-catering property such as camping and caravanning or boat hire are excluded here.

Data on the size and segmentation of the domestic market is for Great Britain rather than the United Kingdom (ie Northern Ireland is not included), sourced from GBTS. Equivalent data for the overseas rental market is not available, but rentals abroad are covered in Mintel’s consumer research for this report.

“There is a growing demand for accommodation which can combine some of the advantages of holiday rental property (freedom, independence, a home environment or an authentic local feel) with some of the advantages of staying in a hotel (convenience, indulgence, time saving).”
– John Worthington, Senior Analyst

This Report covers the following areas:

  • Couples-only rentals
  • Designer rentals
  • Holiday hampers
  • Semi-catered families

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
      • Executive Summary

          • The market
            • UK holiday rentals up 16% in four years despite dip in 2018
              • Figure 1: Volume forecast for the domestic holiday rental property market, 2014-24
              • Figure 2: Value* forecast for the domestic holiday rental property market, 2014-24
            • Overseas rentals reach an estimated 4.7 million
              • Companies and brands
                • Airbnb and Booking.com vie for leading share of listings
                  • Figure 3: Leading holiday rental property providers, by number of global listings, May 2019
                • Awaze is the UK cottage holidays leader but Sykes is growing fast
                  • The consumer
                    • One in four consumers use holiday rental property
                      • Figure 4: Types of holiday accommodation used in the past three years, April 2019 versus April 2017
                    • Airbnb market share continues to rise
                      • Figure 5: Sources used to book last holiday rental property, April 2019 versus April 2017
                    • Surge in short break rentals
                      • Figure 6: Duration of last holiday rental property booking, April 2019 versus April 2017
                    • Spain, France, Greece and Italy are top overseas rental destinations
                      • Figure 7: Destination of last holiday rental property booking, April 2019
                    • Food & drink and design are the top pulling factors
                      • Figure 8: Important factors when booking holiday rental property, April 2019
                    • Premium produce
                      • Figure 9: Willingness to pay for premium services in holiday rental property, April 2019
                    • Millennial travellers look for property-plus
                      • Figure 10: Interest in booking premium holiday rental property, April 2019
                    • What we think
                    • Issues and Insights

                      • Couples-only rentals
                        • The facts
                          • The implications
                            • Designer rentals
                              • The facts
                                • The implications
                                  • Holiday hampers
                                    • The facts
                                      • The implications
                                        • Semi-catered families
                                          • The facts
                                            • The implications
                                            • The Market – What You Need to Know

                                              • Uncertainty starting to affect holiday bookings
                                                • UK holiday rentals dipped in 2018 but are up 16% since 2014
                                                  • Domestic rental holidays forecast to be worth £3 billion by 2024
                                                    • South West accounts for over one in four UK rentals
                                                      • 4.7 million overseas holiday rentals in 2018
                                                        • Spain top but Greece and Italy show strongest independent travel growth
                                                        • Market Size, Forecast and Segment Performance

                                                          • UK holiday rentals slip in 2018 but are up 16% over past four years
                                                            • Figure 11: Trends in the volume and value of the market for domestic holiday rental property, 2014-24
                                                            • Figure 12: Volume and value of domestic holiday rental property, by property segment, 2014-18
                                                          • South West accounts for over one in four trips
                                                            • Figure 13: Number of domestic holidays taken in holiday self-catering* property, by region, 2016-18
                                                            • Figure 14: Volume forecast for the domestic holiday rental property market, 2014-24
                                                            • Figure 15: Value* forecast for the domestic holiday rental property market, 2014-24
                                                          • Property rentals account for one in 10 holidays abroad
                                                          • Market Background

                                                            • Consumer spending has remained resilient despite uncertainty…
                                                                • Figure 16: Expected impact of UK vote to leave the EU on wider economy and personal finances, January 2019
                                                              • …but signs of a travel slowdown are gathering
                                                                • Figure 17: Trends in the number and value of domestic holidays taken by UK residents, 2014-18
                                                                • Figure 18: Trends in the number and value of overseas holidays taken by UK residents, 2013-18
                                                              • Independent travel has seen strong growth since 2014
                                                                • Figure 19: Trends in the number of independent overseas holidays, 2014-18
                                                              • Spain still top but Greece and Italy are fastest-growing independent travel destinations
                                                                • Figure 20: Top 10 independently booked overseas holiday destinations, by number of trips, 2014-18
                                                            • Companies and Brands – What You Need to Know

                                                              • Growing competition between Airbnb and OTAs
                                                                • Airbnb targeting affluent Millennials
                                                                  • Booking.com and Expedia increased their rental listings by around a fifth in 2018
                                                                    • HomeToGo aims to become the Trivago of holiday rentals
                                                                      • Awaze is largest domestic cottage holidays provider
                                                                        • Sykes is fastest-growing domestic brand
                                                                          • Hotels enter luxury rentals space, loyalty schemes and premium pet properties
                                                                          • Leading Holiday Rental Companies

                                                                              • Global intermediaries
                                                                                • Figure 21: Leading holiday rental property providers, by number of global listings, May 2019
                                                                              • Airbnb
                                                                                • Booking.com
                                                                                  • Expedia/HomeAway
                                                                                    • TripAdvisor Vacation Rentals
                                                                                      • Other international companies
                                                                                        • Domestic brands
                                                                                          • Awaze
                                                                                            • Sykes Holiday Cottages
                                                                                              • Other domestic companies
                                                                                              • Launch Activity and Innovation

                                                                                                • Designer rentals
                                                                                                  • Hotels entering luxury rentals space
                                                                                                    • Sykes pioneers loyalty scheme and app for cottage holidays
                                                                                                      • Premium pooch
                                                                                                        • Child safety
                                                                                                        • The Consumer – What You Need to Know

                                                                                                          • One in four consumers use holiday rentals
                                                                                                            • Airbnb increases market share by 5 percentage points since 2017
                                                                                                              • Holiday rental stays have become shorter
                                                                                                                • Good pubs/restaurants nearby are most important feature
                                                                                                                  • Entertainment on demand
                                                                                                                    • Premium potential
                                                                                                                      • Millennials most likely to go upmarket
                                                                                                                      • Use of Holiday Rental Property

                                                                                                                        • One in four adults use holiday rentals
                                                                                                                          • Figure 22: Types of holiday accommodation used in the past three years, April 2019 versus April 2017
                                                                                                                          • Figure 23: Types of holiday rental property used in the past three years, April 2019 versus April 2017
                                                                                                                        • Holiday property rental – demographics
                                                                                                                        • Holiday Rental Property Booking

                                                                                                                          • Airbnb share up 5 percentage points over past two years
                                                                                                                            • Figure 24: Sources used to book last holiday rental property, April 2019 versus April 2017
                                                                                                                            • Figure 25: Sources used to book last holiday rental property, UK versus abroad, April 2019
                                                                                                                          • Booking demographics
                                                                                                                            • Holiday rentals are becoming shorter
                                                                                                                              • Figure 26: Duration of last holiday rental property booking, April 2019 versus April 2017
                                                                                                                              • Figure 27: Duration of last holiday rental property booking, by booking source, April 2019
                                                                                                                          • Holiday Rental Property Locations

                                                                                                                            • 60-40 domestic/overseas rental split
                                                                                                                              • Figure 28: Destination of last holiday rental property booking, April 2019
                                                                                                                            • Back to nature
                                                                                                                                • Figure 29: Location of last holiday rental property booking, April 2019 versus April 2017
                                                                                                                              • Coast and city dominate overseas rentals
                                                                                                                                • Figure 30: Location of last holiday rental property booking, UK versus abroad, April 2019
                                                                                                                                • Figure 31: Location of last holiday rental property booking, by booking source, April 2019
                                                                                                                            • Holiday Rental Property Companions

                                                                                                                              • Couples-only rental opportunity
                                                                                                                                • Figure 32: Companions on last holiday rental property stay, April 2019
                                                                                                                            • Holiday Rental Property Important Factors

                                                                                                                              • Food & drink and interior design are key factors
                                                                                                                                • Instagrammable accommodation
                                                                                                                                  • Entertainment on demand
                                                                                                                                    • Experiences
                                                                                                                                      • One in four domestic guests seek pet-friendly rentals
                                                                                                                                        • Catering for the elderly
                                                                                                                                          • Figure 33: Important factors when booking holiday rental property, April 2019
                                                                                                                                          • Figure 34: Important factors when booking holiday rental property, UK versus abroad, April 2019
                                                                                                                                      • Holiday Rental Property Premium Services

                                                                                                                                        • Opportunities for gastronomic extras
                                                                                                                                          • Affluent families will pay for semi-catered experience
                                                                                                                                            • Other premium opportunities
                                                                                                                                                • Figure 35: Willingness to pay for premium services in holiday rental property, April 2019
                                                                                                                                              • Millennials prepared to pay for premium property
                                                                                                                                                • Figure 36: Interest in booking premium holiday rental property, April 2019
                                                                                                                                            • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                                • Definitions
                                                                                                                                                  • Abbreviations
                                                                                                                                                    • Consumer research methodology
                                                                                                                                                    • Appendix – Market Size and Forecast

                                                                                                                                                        • Figure 37: Domestic holiday rental market, volume forecast, 2019-24
                                                                                                                                                        • Figure 38: Domestic holiday rental market, value* forecast, 2019-24
                                                                                                                                                      • Forecast methodology

                                                                                                                                                      Holiday Rental Property - UK - June 2019

                                                                                                                                                      £1,995.00 (Excl.Tax)