Private Holiday Rentals and the Travel Industry

It's been quite a tough few months for the travel industry and in particular the luxury end of the market has suffered due to the recent 'credit crunch' to hit the UK.

Some industry experts predict these uneasy times to last for another 8-10 months which will take us well into next summer, however as travel companies and airlines cut back on route frequency and destinations, it could be a great time for private owners to use this to their advantage.

Travel companies would rather be seen to offer less and be fully booked as apposed to offer more availability and have lots of holiday 'left-overs' as this doesn't make their share holders happy. We predict that late next season (June/July) we will see higher demand versus supply, which is a good time for private owners to 'cash in'.

With most European holiday destinations experiencing drops of 20-25% in visitors numbers this year, not all destinations have been affected by quite so much of a drop. Turkey, Croatia and Florida for example have reported only slight shifts in numbers, not having the Euro is thought to be the main contributor.

Across the pond with a weak Dollar against the Pound, more Brits are choosing to invest in villas in Florida rather than at home or Spain, which has held the top spot for second homes for many years.

WHAT CAN OWNERS DO DURING TOUGH TIMES?

During these times, it's always tempting to drop rental costs as the first attempt to get those weeks booked, but don't panic as there are other things to do before this. Review your rental adverts and make sure that the photos are the best they can be, showing the best bits of your holiday home....think 'blue sky' and 'swimming pools'. Add incentives, perhaps include one weeks car rental if 2 weeks are booked, include an Island tour for example? All of these things will make your holiday villa or apartment much more attractive. Late deals and Special offers are also a great idea when you get to 6 weeks prior to your available date. If you have dates which you really cannot shift, please talk to your account manager at Villa Holiday and we will be happy to help in anyway we can and advise on the options available.

Here's to Winter Sun 2008/9!!!

Paul