Glamping could be the next major boom for holiday let investors, with bookings up 92 per cent in 2022 compared with 2019, new research suggests.
Investing in the sector could boost income for holiday let owners by thousands of pounds, it is claimed, with the average owner earning £17,000 a year from their site, according to one analysis.
The Holiday Letting Outlook Report 2022, by Sykes Holiday Cottages analyses the company’s booking figures and revenue data to gauge long-term investment opportunities across the UK.
The report revealed a surge in holidaymakers flocking to the countryside while still expecting a level of luxury. There has been a 92 per cent uplift when comparing 2022 glamping bookings with 2019. Bookings this year are up 49.3 per cent compared with last year.
Figures for 2021 show a 45 per cent uplift in glamping bookings compared with pre-pandemic figures in 2019.
Some 23 per cent of existing holiday home owners have plans to install glamping accommodation or pods on their land over the next five years, the report said.
Not only is glamping now more popular but also profitable. The average glamping property now generates around £17,000 each year.
As many people have this as a side project, it can be a big boost to finances.
Furthermore, glamping holiday home owners report an average cost of £65,000 to get set up, far cheaper than purchasing a property, while annual bills for a holiday home come in at around £11,500.
With earnings coming at tens of thousands of pounds, within a few years owners could be more than recouping their costs.
The pandemic has created a staycation boom for all types of UK holidays, but 96 per cent of glamping owners say they’ve witnessed increased demand and bookings since the first lockdown restrictions ended.
With glamping clearly a growing trend that isn’t stopping any time soon, 23 per cent of holiday home owners now plan to develop glamping accommodation, such as yurts or pods on their land in the next five years.
Graham Donoghue, chief executive of Sykes Holiday Cottages, said: “This year represents a key moment for holiday home owners to adjust their strategies, as the wants of holidaymakers have begun to change. Diversification of lettings portfolios offers the chance to reap the rewards of a country hungry for greater freedom and relaxation.
“Customers are always looking for a different type of holiday experience and glamping offers exactly that. With this surge of interest likely to remain a fixture for years to come, now is the time to lay the foundations for new letting opportunities and make the most of this exciting market change.”
Top earning regions for holiday lets
The report has shown the typical staycation of a sunny coastal destination is potentially changing, with Cumbria and the Lake District seeing the greatest growth in glamping bookings, which were up 85 per cent in 2021, as more people than ever opted for a countryside getaway.
Rustic locations are top of the list for many, with log cabins the most searched feature on Sykes’ website when it comes to type of accommodation, beaten only by pet-friendly accommodation and hot tubs.
In terms of profitability for holiday lets overall, the top-earning region in 2021 was Cumbria and the Lake District with a four-bedroom property earning an average of £44,000 annually.
In Devon, a four-bedroom home would make a holiday let owner £35,000 whilst in Dorset, it could net you £32,000.
The Peak District and Cornwall round out the top five with yearly average earnings of £34,000 and £24,000, respectively.
published 2022-06-09 18:57:36