When looking to invest in Airbnbs, finding properties in prime locations for tourists will greatly improve your yield potential. And we are blessed in the UK to have lots of events that attract domestic and international tourists throughout the year, and different types of visitors too.
2023 however is set to be a particularly busy year for certain destinations across the UK, and for those in the hospitality industry in these areas, it's time to get ready for a surge in demand for short-term rental accommodation. Do you have an investment property in these hotspots? It should be time to cash in.
Liverpool In May, all eyes turn to Liverpool when it hosts the Eurovision Song Contest (on behalf of Ukraine). This global event brings together music lovers from all over the world to celebrate the best in pop music. With thousands of visitors expected to descend on the city, it's already been a great opportunity for short-term rental hosts to cash in on the action. In some cases, prices are up 82% for the weekend.
Eastbourne The Sussex coastal town is hosting the prestigious Turner Prize in the Autumn of 2023, bringing some of the most exciting contemporary artists to the town, and with it the lovers of art and associated press. It’ll be held at Towner Art Gallery to commemorate its own centenary and will put the town on the map for tourists from all over the world.
Glasgow For cycling enthusiasts, the UCI cycling championships in Glasgow is a must-see event. The competition will feature riders competing across multiple disciplines, including BMX, mountain biking and road racing. This exciting event is sure to draw visitors from far and wide, and short-term rental hosts in the area can expect to be in high demand.
Hay-on-Wye In Wales, the Hay Festival is one of the highlights of the global literary calendar. Held in a picture postcard Welsh village, this 10 day event brings together some of the world's most acclaimed writers, thinkers and performers to discuss their work and engage with fans. 250,000+ visitors are expected to descend upon a village where less than 2,000 people live through the year - expect demand for STR/SA in neighbouring towns and villages to rocket come the end of May.
Manchester Manchester is set to see a cultural explosion in 2023 with the eagerly anticipated reopening of the city's museum and the launch of Factory International, the city’s flagship arts venue and new home of its International Arts festival. Expect to see tourists enter in droves throughout the summer and beyond to soak up the cultural action.
South West Coastal Path The iconic trail around the whole south west coast of the UK is celebrating its 50th anniversary this year so the villages and towns along the route in the counties of Somerset, Devon and Cornwall are rightly expecting bookings for cosy accommodation to increase after a long day’s walking from this active group of hikers. A whopping 9 million people do some part of the trail every year!
Peter Kay’s tour! And a bonus to finish on. The UK’s favourite comedian broke all the records when he announced his first tour after a 12 year hiatus, and thankfully he’s touring all the major towns and cities across these isles to see as many people as possible. If you have Airbnbs in cities like Nottingham, Belfast, Sheffield and more, expect a great bump in demand when he arrives into town.
While we've featured these 6 main destinations, don't feel hard done by if your short term rental or serviced accommodation is in another part of the country. We haven’t mentioned at all the classic events in any UK annual calendar that draw millions of tourists.
We have the ever popular Glastonbury and many other music and arts festivals dotted around the UK such as the Edinburgh Fringe; major sporting events such as Wimbledon, the Grand National in Liverpool and the Royal Ascot, as well as the F1 Grand Prix in Silverstone. And we still haven't touched on the capital city. London never really sleeps - whether it’s Notting Hill Carnival, New Years’ celebrations or a constant stream of touring musicians and acts to its stadiums, STR/SA will remain in great demand in the city this year from travellers. One particular event that may draw in the crowd this year to London however - the Coronation of the new King that takes place in Westminster and the resulting celebrations around Windsor.
The UK really is a great place to own holiday lets and vacation rentals, so if you want to invest in your first or your next, be sure to check out the Airbuy and Sell marketplace for the hottest investment properties available to buy.
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