Five ways to make your holiday home more profitable
After more Brits than ever enjoyed a staycation in 2021, UK holiday let owners can rest assured that the staycation boom isn’t going anywhere soon.
Over half (55%) of those who staycationed during the pandemic say they no longer feel such a need to travel abroad for holidays, according to a recent survey by Sykes.
So as we approach another busy year – and holidaymakers start to put their travel plans in the diary – now is the perfect time for holiday let owners to reassess what they can do to keep attracting bookings and ensure their second home investment is working as hard as possible for them.
From accepting shorter bookings to making small changes that will help to secure more visitors, Bev Dumbleton, Chief Operating Officer at Sykes Holiday Cottages, has shared five ways to make your holiday let even more profitable – alongside the likely revenue returns of each.
Shorter breaks – 58% increase in revenue potential
Enabling travellers to book shorter stays of two to four days at your property will open up your calendar to a lot more bookings.
In fact, we’ve found that holiday homeowners who opt to do this can expect to make 58% more per year than those who don’t.
By widening your pool of guests to include those able to book time off during the working week, such as groups of friends, students or couples, as well as those who prefer full weeks, you’re ensuring the property is less likely to have any weeks sat empty and not making money.
Dress up your garden – up to 15% increase in revenue potential
After 18 months of on and off restrictions forcing Brits to stay inside, it’s little surprise that holiday homes with gardens earn 15% more than those without.
Whether a property has a garden is something city dwellers, families and holidaymakers with pets are particularly likely to look out for – especially if they’re looking to visit during the summer months.
To make sure your garden is holidaymaker ready you might even consider investing in professional help to keep it looking its best all year-round. From comfortable seating so guests can dine al fresco, to a fire pit, attractive flower beds and decking, there is plenty you can do to transform your garden into an oasis.
Give guests the option to get cosy – up to 21% increase in revenue potential
During the colder months, there’s nothing better than warming up by a fire after a crisp winter walk.
This is a sentiment which is clearly popular with UK travellers as we’ve seen properties with an open fire or log burner earn 21% more than those without.
With a working fireplace now considered uncommon in many homes across the country, ensuring your holiday let has a log burner not only gives guests somewhere to dry off after a day of exploring, but it can also help to create a welcoming atmosphere and cosy spot for groups to catch up with a movie or glass of wine.
Consider installing some luxuries – up to 66% increase in revenue potential
Depending on your holiday home’s size, installing luxuries such as a hot tub, sauna, pool table or games room could help you to draw all types of guests year-round.
Especially with our country’s weather being so unreliable, holidaymakers are often looking for alternatives to fill their time if they’re unlucky enough to experience rain throughout their staycation.
And while providing these extras can be costly, we’ve seen holiday let owners reap the rewards and earn up to 66% more for a hot tub, 33% more with a pool table, and 61% more with a sauna.
Make sure your location works – up to 21% increase in revenue potential
If you’ve not yet invested in a holiday home, making sure you research a potential property’s location is key to seeing a good number of bookings throughout the year.
In fact, we’ve found that properties in towns earn 21% more than those in cities, and 9% more than those in smaller settlements – suggesting that staycationers like a location that offers them some level of remoteness, but still somewhere with lots to see and do.
You might also consider somewhere near the coast or one of the UK’s national parks, with many holidaymakers keen to take on walking trails with stunning scenery during their breaks. According to our leatest Staycation Index, the top five earning regions for holiday homeowners include the Peak District, Cumbria, Heart of England, Yorkshire Dales and Cotswolds.
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