Holiday home owners anticipate a surge in bookings this summer in the Canary Islands

In a recent survey conducted by Holidu, a leading holiday rental platform, optimism is brewing among property owners in the Canary Islands as 79% of them expect to receive more bookings compared to last year. The survey, which involved 2,863 hosts across major European destinations, reflects a widespread positive outlook for the upcoming summer season.

Of the respondents in the Canary Islands, a significant 79% expressed optimism about a rise in reservations, while 17% anticipate similar figures to last year, and only 3% foresee a drop in bookings.

Financially, half of the property owners in the Canary Islands have either raised their prices this year or plan to do so. Among those planning price adjustments, 41% said they would increase them between 1% and 5%. When it comes to prices throughout the year, 63% of owners stated they change their rates between one and five times depending on the time of year, while 29% prefer to maintain stable rates.

As the summer season looms closer, holiday rental property owners are gearing up for Summer 2024, strategizing and sharing their expectations for the influx of reservations. Holidu's data analysis of the Canary Islands as a tourist hotspot, supplemented by the survey results, sheds light on pricing trends and challenges within the holiday rental industry.

Key findings from the survey include:

Optimism in Bookings: 79% of owners anticipate an increase in bookings for the summer season.

Price Adjustments: Half of the owners plan to modify their booking rates, with 41% indicating a moderate price increase.

Sustainability: 40% of owners in the Canary Islands believe sustainability is very important for guests.

Impact of AI: 72% believe that artificial intelligence (AI) will influence holiday rentals in the next five years.

Guest Expectations: Cleanliness of the property (94%), positive reviews (81%), and fast communication (71%) are highlighted as crucial factors for guests.

Challenges and Expectations: Owners express concerns about guests exceeding reservation limits (89%) and failure to comply with cleaning standards (88%).

Regarding sustainability, 92% of Canarian owners consider it important or very important when renting their properties. Additionally, 40% believe that guests highly value environmentally friendly measures in tourist accommodations.

Looking ahead, a significant proportion (72%) of respondents foresee AI playing a more substantial role in holiday rentals over the next five years. While 48% view this trend positively, 21% express scepticism, and only 6% oppose it.

In summary, the survey highlights the growing importance of sustainability, the integration of AI, and the emphasis on guest satisfaction in the evolving landscape of holiday rentals in the Canary Islands.