The Christmas season is almost here. For property managers in Cornwall, understanding short term rental performance metrics can offer valuable insights to optimise revenue and occupancy strategies through New Year’s 2025.
Cornwall is looking at a great opportunity for a successful Christmas season in 2024. Here’s a breakdown of key trends to help you prepare for the holiday rush.
Booking Windows: Planning in Advance, but with Flexibility
For the 2024 Christmas period (17/11/24 - 30/12/25), Cornwall’s booking windows are only three days longer than last year’s 97 days. However, there are notable variations between Christmas and New Year’s bookings:
- Christmas Bookings: Guests are booking Christmas accommodations about 5% closer to their stay date this year, with the average booking window shorter than last year’s 109 days.
- New Year’s Bookings: In contrast to Christmas, bookings for New Year's are showing a slight 1% increase in lead time.
Historically, holiday travelers plan further ahead, especially for Christmas, to secure preferred properties. However, with shorter booking windows this season, flexibility in rates and availability may help attract last-minute bookings, which can be expected to come down as we move closer to the holiday season.
Length of Stay: Christmas Up, New Year’s Down
In Cornwall, December typically sees shorter stays (around five days on average), while peak summer months attract week-long stays. However, each Christmas season is different and booking trends show a shift in stay lengths:
- Christmas Stays: Stays are pacing about 2% longer than last year, reflecting demand for extended stays over Christmas.
- New Year’s Stays: New Year’s is seeing a considerable drop in stay length—down 28% (roughly two days shorter) from last year. This is likely due to the shift in the day of week that New Year’s and New Year’s Eve fall on. In 2024, New Year’s Day was on a Monday, but in 2025, it will fall on a Wednesday.
Encouraging mid-week specials or extended-stay discounts through New Year’s could help maximise occupancy during this shift in booking behavior.
Adjusted RevPAR: Maximising Revenue During Peak Demand
Adjusted RevPAR (Revenue per Available Room) is pacing ahead of last year by £19 for Christmas and £25 for New Year’s, boosted by higher nightly rates and occupancy.
Let RevPAR guide your pricing strategy—by strategically balancing occupancy and rates, you can optimise revenue without sacrificing nights booked. Adjusted RevPAR is a strong indicator of Christmas season success, reflecting real-time data on paid guest stays, not just listed rates or occupancy figures.
Average Daily Rates: Rising for the Christmas Season, But Flexibility is Key
Average Daily Rates (ADR) in Cornwall are pacing ahead of last year for this Christmas season.
- Christmas Week: Rates are up 8% (or £18 higher), reflecting increased demand.
- New Year’s Week: Rates have risen 5% (or £9 higher), maintaining competitiveness for the year-end holiday.
Holiday demand typically allows for higher ADR, but as the season progresses, anticipate lower rates for last-minute bookings as budget-conscious travelers secure remaining inventory. Strategic rate adjustments can help capture both early planners and spontaneous bookers, without sacrificing occupancy to the competition.
Adjusted Paid Occupancy: Capturing More Bookings This Christmas Season
Adjusted Paid Occupancy accounts for owner and hold nights, giving a better picture of paid guest stays. Cornwall’s occupancy rates are trending upward this year:
- Christmas Week: Occupancy is pacing 6% ahead of last year.
- New Year’s Week: Occupancy has seen a significant boost, pacing 10% ahead of 2024.
This trend reflects a steady rise in holiday travel to Cornwall, with room to benefit further on increased travel. Use real-time data insights to adjust rates and maximise occupancy as these high-demand weeks approach. There is still plenty of time to capitalise on holiday demand!
Holiday Tips for Property Managers
- Monitor Booking Trends: With booking windows growing shorter as Christmas approaches, continue watching pacing data within your Key Data Dashboard to adjust rates and availability accordingly.
- Optimise RevPAR: Balance your revenue management approach to focus on both occupancy and rates, especially during peak periods.
- Leverage Occupancy Growth: With rising holiday occupancy, capitalise on the higher demand to drive bookings and extend the season’s peak period.
By leveraging these data insights, property managers in Cornwall can take a proactive approach to maximise revenue and occupancy during the busy 2024 Christmas season. Need help accessing your data? Contact our team to set up a demo and see how you can access the most accurate, in-depth data live in your dashboard so that you can maximise your Christmas season.