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As the new year starts in France, the holiday let industry is still operating in an uncertain world, with booking habits and market dynamics changing significantly from moment to moment and market to market. Not only is booking volume increasing dramatically in some regions, but stay lengths and booking windows seem nearly unpredictable. Without the right data and insights, understanding your market and predicting changes can be difficult. Luckily at Beyond, we have a wealth of data to help us figure out what is going on in different markets.
What's clear is that no two markets are impacted in the same way. With the recent opening of ski resorts, Annecy and Chamonix have benefited greatly. However, the Basque Country finds itself in a different situation and are forced to readjust its short-term strategy. Using hyperlocal data from Beyond will help you make the right decisions at the right time to grow your business.
The chart below gives us an overview of the booking volume over the first 21 days of the year in different markets and compares to the same period last year. We also take a look at the number of reservations per accommodation. Here are our observations:
- Paris, despite a wave of cancellations since December, has seen its volume of reservations increase by 63%
- Snow stays are back: Annecy (+160%), Chamonix (+360%), Grenoble (+33%)
- Lyon is struggling to regain its pre-Covid trends, decreasing by 73%. Other cities continue to attract people, like Toulouse (+158%)
- In Avignon, an event confirmed to go ahead drove last minute bookings +230%
- The Basque Country sees its volume drop by 50%, but other summer regions see their volume of reservations increase, Arcachon (+94%) and Toulon (+45%).
Looking at our next chart, booking windows also vary widely by market:
- In Arcachon and Basque Country, more than 50% of stays are planned more than 60 days in advance. The other majority are last-minute stays, 10 days before the arrival date.
- In Avignon, Lyon, Toulon, and Toulouse, 75% of reservations are for the short term, with a reservation window of less than 30 days
- In Annecy, Grenoble, and Chamonix, 70% of stays will take place within 2 months of the booking date
- In Paris, 50% of reservations for the short term and 50% of reservations planned at least 30 days in advance
As we can see, each market in France is very different. Utilizing this data to understand the differences can guide your business to make the right decisions and grow.
Beyond prices more than 340,000 accommodations in 7500 cities around the world in France, Spain, the United Kingdom, Belgium, Switzerland, Italy, Dubai, Morocco, and many more.
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