As the main summer season comes to a close, each year we at Cornish Cottage Holidays take a moment to reflect on the months gone by.

Using regional market insights from the Cornish properties we manage, plus national data from our parent company Sykes Cottages, we are proud to provide an honest view of the industry as we have experienced it. We believe by providing this feedback we can help all holiday home owners in the region to make the best decisions during this time of reflection, before the start of 2025.

An Update on Holiday Letting in 2024

Staycations remain popular

This season, the popularity of self-catering getaways has remained high. Earlier this year, in a survey by OnePoll of 2000 UK adults, 77% of Brits said they would holiday in the UK in 2024, with 43% stating it’s easier and 32% saying it’s cheaper than travelling abroad. In fact, a staggering 42% said they were planning a staycation for their main break!

In the same survey, Cornwall topped the list of 10 most popular destinations in the UK for 2024, with the region’s beaches the biggest draw for more than half of Brits. Evidently, Cornwall remains one of the places to holiday in the UK.

Holiday let booking levels in 2024

In terms of bookings, there is no denying that spring was a difficult period, due in no small part to the wet weather. The relentless rain put a dampener on things, and unfortunately occupancy was lower than in some previous years for March and April.

In stark contrast, the early summer was superb. Indeed, we saw more than 77% occupancy across our holiday homes in Cornwall during May and June – some weeks occupancy was up more than 4.5% year on year!

The peak summer period remained steady for bookings. With an 80% occupancy and an average of 7.75 breaks booked over the July and August weeks across our 600+ holiday homes, bookings per property were in fact up slightly year on year.

With reference to income, revenue per property has seen a 4% year on year increase, with the average week achieving £977. Whilst overall occupancy has been less for some periods, revenue is still strong due to customers booking multiple short breaks, which command a good income.

This is just one of the benefits of letting through an agency; agencies with a consistently high marketing budget are less likely to rely on reducing prices to fill any gaps – meaning owners have a better chance of securing the optimum income for each booking! With the right marketing, holiday letting remains lucrative for owners, particularly in this desirable destination.

With early indications suggesting the autumn will be robust, we are hopeful that we will finish the year in a very similar position to last year – no easy achievement, considering the economic climate and political changes that have been at play during 2024!

Optimising your property

In addition to reviewing booking statistics for the past season, it’s also good to discuss booking trends that are currently influencing the accommodation guests choose. It is widely understood that the world of holiday letting is evolving. Customer needs have changed. Booking patterns have changed. Love it or loathe it, for owners looking to get the most out of their holiday home investment, their offering has had to change too. So, what is the secret to success in modern day holiday letting, and how can owners attract the most bookings?

“Staycation Snacking”

Sykes has seen a 9% uplift in long weekend break bookings year-on-year in 2024, with 35% of Brits preferring more regular, short breaks – otherwise knowns as ‘Staycation Snacking’.

People are looking to squeeze mini breaks into their busy schedules, enjoy more regular ‘escapism’, and experience a wider variety of locations than they would with one longer annual break. With this in mind, owners looking to capitalise on this trend should be as flexible as possible with three or four night short breaks. As referenced earlier, this can be very profitable too… taking two short breaks within a 7 day period could earn up to 150% of the normal weekly rental (which certainly makes up for the additional changeover costs!)

Spontaneous last minute getaways

We are also seeing a continued trend for visitors booking exceptionally last minute, even on the day of arrival. Searches for ‘last minute cottages Cornwall’ have risen by 30% year on year, and in July 2024, Google searches for ‘last minute holidays Cornwall’ rose 91% compared with the previous month, showing the trend is even more popular in peak summer months.

People nowadays look at the weather forecast and often choose impromptu getaways over more carefully planned and considered trips. Offering bookings right up to the arrival is certainly beneficial, and whilst it can be tricky to manage changeovers at late notice, it will pay dividends in terms of income.

We’ve changed our website and booking system to be able to accept bookings right up to the day of arrival, to help our owners capitalise on this last minute demand. For owners that struggle to operate changeovers themselves at short notice, we can provide contacts for suppliers to support.

Value adding extras

Ensuring your property is equipped to meet the needs of customers is fundamental for building repeat booking custom, and for ensuring excellent reviews. The most searched for features on the Sykes Cottages website this year are:

• • Hot tub
  • Wifi
  • Garden

Whilst its not always possible to have these features, if you can provide a well maintained outside space for guests to relax in – however big or small – along with wifi, it will help guests to enjoy their break, and boost subsequent bookings.

‘Back to basic’ breaks

Glamping bookings are also growing in popularity. Bookings for yurts, pods and shepherd’s huts were up 67% in 2023! With people looking to get closer to nature, enjoy cosy getaways and to try something different, adding this sort of accommodation could be beneficial. Whether you have unused land in the vicinity of your current holiday property, or even a large garden that could accommodate such an addition, owners could easily increase their offering, and take advantage of such an opportunity by adding a pod or similar.

If you would like further information on this, why not read our ‘Meet the Owners’ blog about Stars and Embers Glamping.

Sustainability: Standing out from the crowd

Across the Sykes Cottages portfolio, around 1,000 properties now boast an EV charging point. This is now a highly sought-after amenity, with research showing 27% of our owners plan to add new sustainable features to their current holiday home over the next few years – including electric vehicle charging points, heat pumps or solar panels. So called ‘eco-tourism’ is growing in popularity, with discerning guests looking for environmentally friendly accommodation to suit their needs.

As part of a B Corp organisation we actively encourage owners to take steps to minimise the impact of their property on the environment; its not only beneficial to the planet, but in terms of customer appeal too. Win win!

A different kind of holiday experience

Here in Cornwall, as a destination our appeal has always been clear cut. Stunning beaches, beautiful scenery, fabulous food… simple.

But in the last 12 months, there’s been a noticeable increase in guests who specifically look to try something different whilst on holiday. Increasingly guests are making travel choices based on the adventure opportunities available at their destination.

With this in mind, some owners are introducing onsite activities to give them an edge over similar accommodation offerings. Top onsite activities popular with visitors include wild swimming, hiking with llamas, zip lining, foraging, surfing and ghost hunting! So, if you have something unusual at your accommodation, make the most of it. Even collecting hen’s eggs on the farm has great appeal to many families who wouldn’t have the opportunity to experience this in everyday life.

Would you like to know more?

If you are reviewing your holiday property’s performance in 2024 or are considering plans for 2025, we would love to talk to you. Our dedicated team of local experts would be pleased to discuss Cornwall’s holiday letting market in more detail and offer their advice. They can also offer a free no-obligation income projection, to give you an indication of what your property could achieve with Cornish Cottage Holidays. Please contact us today on swmarketingteam@sykescottages.co.uk or visit our let your cottage page to find out more.

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