Market Pulse: Prague

The travel industry in Europe is slowly beginning to recover from the pandemic. As of July 1, all the countries in the European Union block will use the EU Digital COVID Certificate from 1 July that will make it easier to travel across Europe this summer. This will be in the form of a QR code that can be printed out or saved digitally on a smartphone.

With this promising news, we took a look at the state of the short-term rental market in one of the most popular destinations on the continent, the beautiful city of Prague.

Key Takeaways:

• Booking pace is returning to pre-pandemic patterns in Prague as guests are booking similar to 2019 pace
• Recently eased Covid restrictions proves a promising future of increased long-term travel plans

Want to see how your Prague listings are doing compared to the market? Take a free demo with our Insights tool today!

In the Prague market, for example, the chart above displays all bookings that have been made over the past 21 days by their check-in week. The same values for 2019 are included to provide pacing context for the entire market to a similar year, given the data distortions caused by the pandemic in 2020.

In the near term, average booking lead time for the Prague market exceeds 2019 with more guests booking closer to their arrival dates in 2021 with approximately 44% of bookings coming within 10 days of arrival. At this same time in 2019, more guests were booking two to five weeks out. This is likely due to high post-covid travel demand and recently eased restrictions.

Overall, the Prague market is booking up in the short term over the next few weeks, and things are looking good for the rest of Summer.

For a more detailed look of your properties against the market, check out our Insights tool today.

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