Many travellers plan trips around major holidays in order to work around school calendars. The most popular weeks tend to be around Easter, bank holidays, Christmas and New Year’s. Since these weeks are in such high demand, you should charge a bit more for them and require a longer minimum stay in many markets. Don’t forget special events like major sporting events or business conferences and festivals that could be happening in your market.
For example, properties in Cornwall could fetch up to 200% of their peak-season rates for the August bank holiday weekend. However, the same properties couldn’t charge such a high rate for a week in January. Many beach properties charge up to 200% of their peak rate for the August bank holiday, but only 25% to 30% of their peak rate for October half-term and Christmas.
Typical rental rate: 25% to 200% of your peak-season rate
Minimum stay: Three nights to one week
Before setting your rates for the year, sketch out a rough calendar that includes:
Major holiday weeks: In many markets, you can charge a little bit more for high-demand holiday weeks like Christmas, New Year’s or bank holidays.
Bank and other holidays: Don’t forget other holidays like Valentine’s Day, St. Patrick’s Day, Mother’s Day and Father’s Day. In many countries, bank holidays are also prime days for travellers to take quick two-to-three-day getaways.
School breaks: Check the school calendars for large cities within driving distance of your home (or if you’re in a fly market, check the school calendars where many of your guests come from). Specifically, determine when schools finish for the summer, when they start back again and any breaks lasting a week or longer (May half-term break, October half-term break, Christmas holidays, etc.).
Annual events in your market: If your market hosts an annual event that brings crowds of tourists into town, make sure that you take note of it. If the event is large enough, you may even be able to charge an inflated rate due to the scarcity of available accommodation.