As summer draws near, holiday home owners in the Canary Islands are gearing up for the upcoming tourist season. A detailed data analysis conducted by the holiday rental platform Holidu has shed light on pricing, trends, and the challenges faced by these accommodations in the region.
The study, which surveyed 2,863 hosts across various countries, reveals that a significant majority (79%) of holiday home owners in the Canary Islands anticipate more bookings this year compared to last. In contrast, 17% expect to see booking numbers similar to those of the previous season, and a small minority of 3% predict a decrease in bookings.
A notable trend from the survey is that half of the property owners in the Canary Islands plan to increase their rental prices. Among these, 41% are considering a modest hike ranging from 1 to 5%. The survey also explored how frequently owners adjust their prices throughout the year, finding that 63% of respondents tweak their pricing between one and five times annually, whereas 29% prefer to maintain stable prices throughout the year.
Inflation and rising energy costs are influencing operational expenses for these holiday homes. About 45% of the owners estimated that their additional spending due to these factors would range between 6% and 10%, and 19% believed it would be between 1% and 5%.
Vacation Rentals Methodology
This data was extracted from the Holidu database by a team of experts from the Holidu Group. The survey targeting holiday rental hosts was conducted from February 22 to March 10, 2023. It involved hosts from Spain (955), Italy (1,093), and Germany (815), with the sample from the Canary Islands including 296 owners. This comprehensive analysis offers insights into the current state of the holiday rental market in the Canary Islands, reflecting both the optimism of owners and the economic pressures they face.
