UK adults are on track to spend a total of £3.3 billion holidaying in domestic property rentals in 2021.
More than one-fifth expected to stay in a holiday rental property in Britain this year, according to market researcher Mintel, which also highlighted a rise in demand for pet-friendly properties.
It comes after a 41% year-on-year drop in market value for the sector in 2020, when UK adults spent a total of only £1.6 billion on domestic holiday rentals.
Meanwhile, the average spend per stay in 2021 is projected to reach £397, up from £349 in 2020 as the total value of the market reaches its highest level in a decade.
The number of people expecting to stay in a UK holiday rental property during 2021 has more than doubled in the past year, with just one in 10 (10%) saying the same in 2020.
Nearly half (47%) would be interested in staying in one in the future, compared to the 26% who have stayed in one in the past three years. Mintel commissioned the research among 2,000 internet users aged 16 and over.
Holidaymakers have sought out self-catering bubbles away from the crowds.”
Mintel senior travel analyst John Worthington said: “UK holiday rentals were hit hard in 2020, like all forms of tourism, but when restrictions eased, the sector has proved more resilient than others in the travel industry.
“Holidaymakers have sought out self-catering bubbles away from the crowds. The home has become a place of refuge for people during the pandemic and this translates naturally into a preference for holiday cottages and other properties.
“2021 – the year of the staycation – will have long-term benefits for domestic rentals as consumers discover new parts of the UK, or try out this type of holiday for the first time.
Travel with pets a priority for many
The three most important factors consumers look for when booking a rental property are proximity to a beach (50%), proximity to a pub/restaurant (50%) and the availability of private parking (49%).
Being able to take pets was a priority for 23% of those planning a domestic rental stay in 2021, a five percentage-point rise compared to those whose last visit was in 2019 or earlier.
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Mr Worthington said: “A year and a half of lockdowns has created the perfect conditions for a significant boost to pet ownership and, as such, the need for pet-friendly holiday accommodation.
“Demand for pet-friendly holiday properties had been rising even before the pandemic. Our research shows that pet ownership is set to grow even further, which will create opportunities for brands to appeal to this group by integrating information on pet services and pet-friendly activities in the area in the planning and booking process.”