Key Takeaways
- This data includes performance metrics for listings across the United Kingdom over a 12-month period from September 2023 to August 2024.
- Across this period, the Average Daily Rate (ADR) fluctuated between GBP 144 and GBP 165, with the highest value observed in September 2023. Similarly, Revenue per Available Room (RevPAR) varied from GBP 54 to GBP 91, with the highest seen in July 2024.
- Occupancy rates saw peaks during the summer months, reaching up to 61% in July 2024. The average bookings ranged between 2.3 and 3.8, the highest being in January 2024 with 3.8 average bookings.
- The count of active listings was at its highest in June 2024 with 392,926 active listings, while the least was in November 2023 with 350,783 listings.
- Overall, the data reveals a mixed performance picture for the UK listings market over this period, demonstrating seasonal variation in performance and a general upward trend in active listings over time.You can also go check United Kindom/England’s short term market performance for time frame January 2021 – January 2024
ADR Summary
The Average Daily Rate (ADR) of listings in the United Kingdom shown in GBP saw some fluctuations over a period from September 2023 to August 2024. In September 2023, ADR was reported at its highest at GBP 165. This value slightly decreased in October to GBP 164, and to GBP 160 in November. In December 2023, there was a minor increase to GBP 163.
The ADR continually decreased over the next couple of months, reaching its lowest at GBP 144 in February 2024. However, a steady increase followed over the subsequent months, with the rate reaching GBP 154 in July 2024. Notably, despite the increasing trend from February to July 2024, the ADR in August 2024 reduced to GBP 145.
Thus, there is a seasonal trend where the ADR peaked at the start of the observed period (autumn), declined over winter, started to increase again in spring, reached a smaller peak in the summer (July), and decreased again at the end of summer.
RevPAR Summary
The past trend of the Revenue Per Available Room (RevPAR) for the entire country of the United Kingdom, exhibited a certain degree of seasonality between September 2023 and August 2024. The RevPAR began at GBP 89 in September 2023 and decreased progressively to reach a nadir of GBP 54 in January 2024. Afterwards, a continuous rise was observed from February 2024, with the RevPAR reaching its peak value at GBP 91 in July 2024. From then onwards, August 2024 witnessed a minor decline to GBP 83. Overall, there appeared a consistent pattern of decreasing RevPAR towards the end and beginning of each year and increasing in the mid to late months of the year.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The occupancy rates for accommodations in the United Kingdom showed a fluctuating trend between September 2023 and August 2024 as per the data provided. In September 2023, it was noted at 57% which gradually declined in the subsequent months to reach its lowest at 40% in January 2024. It began to rise slowly from February 2024 (43%) and peaked in July 2024 at 61%. After July, the occupancy was seen to drop slightly to 58% in August 2024.
Potential seasonal trends can be observed within the data as the occupancy rates decreased in late autumn and winter months (October to January), showing a possible decreased demand for accommodations during this colder period. Conversely, occupancy rates started increasing from spring (February onwards) and reached their peak in the summer month of July, suggesting a higher demand during warmer seasons. This trend suggests a potential seasonal or climate influence on the occupancy rates in the United Kingdom for the given period.
Read her: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The average bookings for the entire United Kingdom showed a varied trend from September 2023 to August 2024. The trend started with an average booking of 3.1 in September 2023, which slightly decreased to 3.0 in October 2023. This was followed by stable average bookings of 3.1 in November. In December 2023, there was a significant drop to 2.3. This was followed by a crescendo in bookings in the first quarter of 2024, with a slight peak of 3.8 in January. Bookings remained above 3.5 from February to May and then slightly declined to 3.2 in June, incremented a bit to 3.3 in July, and then unfortunately fell to zero in August. This suggests a potential seasonal trend of bookings springing up during the start of the year and then moderately falling towards summer. The abrupt drop to zero in August might be due to unavailability of data or some disturbances in the hospitality industry. However, the overall data indicates that the average bookings maintained good stability around the value of 3 for the most part of the surveyed period.
Count of Active Listings Summary
The data for the United Kingdom shows a fluctuating trend in the count of active listings from September 2023 to August 2024. There was a consistent decline from September 2023 (380,644 listings) through November 2023 (350,783 listings). However, there was a slight increase in December 2023, with the count standing at 351,751 listings. A more substantial increase was seen in January 2024, surging up to 370,130 listings, with a little drop in February 2024 at 367,222 listings. From March 2024 onwards, there was a general upward trend, reaching a peak in June 2024 at 392,926 listings. The count dipped a little in July 2024 to 386,602 listings but rose again in August 2024 to 392,043 listings. Overall, the trend suggests a generally upward trajectory in the number of active listings throughout the given period, despite some fluctuations.
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About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
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