HomeAway says holiday rentals offer Brits value in post-referendum sterling slump

Expedia-owned HomeAway says the holiday rentals market has allowed Brits to travel cheaper and for longer despite a slump in the value of sterling after the EU referendum. The site revealed today that its British travellers paid nearly 15% less … Continue reading →

Expedia-owned HomeAway says the holiday rentals market has allowed Brits to travel cheaper and for longer despite a slump in the value of sterling after the EU referendum.

The site revealed today that its British travellers paid nearly 15% less for their holiday rentals abroad in Q4 2016 compared to the same period in 2015 and stayed 10% longer.

A spokesperson said: “Despite recent media articles that UK travellers will face increasing accommodation prices when travelling abroad, HomeAway’s findings reveal a different picture in the holiday rental space.

“Holiday rentals are providing families and groups with the best value, whilst enabling longer stays in the process.”

The outbound demand for holiday rentals abroad on the UK HomeAway site increased in Q4 2016 vs. 2015 with the top outbound holiday destinations in 2016:

1. Malaga, Spain
2. Barcelona, Spain
3. Mallorca, Spain

Cornwall, London and Yorkshire were the top three British destinations for ‘staycationers’ using HomeAway.

Elena Novokreshchenova, regional director UK & Ireland and emerging markets at HomeAway said: “Our data suggests HomeAway travellers are responding to the fluctuating value of sterling since the EU referendum, by becoming smarter about where and how they spend their holiday time with their loved ones.

“The positive impact of affordable holiday rentals has enabled Brits to scrap expensive hotel stays and rent the whole home with friends and family to keep costs down.

“The findings prove that travellers aren’t willing to cut down on their holidays but rather they are adapting their travel behaviour post-Brexit when holidaying at home or abroad.”