UK Holiday Rental Property Market Report 2023

Stay ahead of the curve and future-proof your business with Mintel’s UK Holiday Rental Property Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest holiday rental market trends and consumer behaviours affecting your business. Get a 360° view of the holiday rental market, including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.

Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.

Topics Analysed in this Report

• How the rising cost of living will impact the recovery of the holiday rental property market.
• Participation and future interest in holiday rental property stays.
• Decisive factors when choosing a property.
• Main benefits of holiday rental properties versus hotels.
• Barriers to staying in holiday rental properties.

Holiday Rental Property Market Outlook

Although the income squeeze will have a dampening effect on growth rates, holiday rental properties are expected to outperform the overall domestic tourism market. The holiday rental market is benefitting from a larger consumer base after the relaxing of restrictions. In addition, its affordable image and self-catering facilities help it appeal amid the rising cost of living.

• Holiday rental market size: In 2023, the number of domestic holiday rental property stays taken by UK residents increased by 1.1% reaching 8.3 million holidays.

Holiday Rental Market Trends and Opportunities

Unique accommodation experiences rise in popularity

Holiday makers aged 16-34 are twice as likely to say that a unique look is one of the main benefits of a rental property compared to hotels. With uniqueness being an important element, brands that are able to attract one-of-a-kind and extraordinary rental properties to their platforms will become more attractive to a younger audience.

• Holiday rental property market opportunity: 10% of travellers consider a ‘unique look’ an important factor when choosing accommodation.

Things to do nearby is the most decisive factor

Holidaymakers place a ‘things to do nearby’ as the highest priority when they choose one holiday rental property over another. Certain brands have tapped into this trend by offering search filters such as ‘Distance to sea’, ‘Near a pub’ and ‘Near a shop’. While search filters help understand consumer needs and narrow down search results, there is great potential to learn from past choices travellers have made and show personalised suggestions, such as new destinations.

• Holiday rental market opportunity: 70% of holidaymakers prioritise ‘things to do nearby’ when booking their holiday rental property.

To learn more about the UK holiday rental market, including a five-year forecast, analysis of consumer behaviour, and recommendations for market opportunities, purchase our full UK Holiday Rental Property Market Report.

Leading Brands in the UK Holiday Rental Market

Sykes, Airbnb, Booking.com, Expedia, Tripadvisor, OYO Vacation Homes, Awaze, Toad Hall Cottages.

Additional Features Included with Your Purchase

• Interactive Data Book: This gives you unlimited access to a consumer confidence tracker that is segmented into 25 different demographic categories.
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Expert Insights from a Travel Analyst

This report, written by Marloes de Vries, a leading Travel analyst, delivers in-depth commentary and analysis to highlight trends in the holiday rental market and add expert context to the numbers.

Holiday rental properties continue to show the highest growth potential of any accommodation type. The segment is benefiting from a larger pool of new customers as a result of holidaymakers wanting more personal space during the pandemic, while its affordable image and self-catering facilities help it to appeal amid the rising cost of living.”

Marloes de Vries
Travel Associate Director