Adriatic top for Holiday Rentals Growth & Hike in Hotel Prices Drives People to Rent

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Adriatic top for Holiday Rentals Growth & Hike

in Hotel Prices Drives People to Rent

PR Newswire

LONDON, May 30, 2012

LONDON

,

May 30, 2012

/PRNewswire/ --

The supply of privately rented holiday accommodation in

Montenegro

and

Croatia

saw strong growth in the first quarter of 2012, according to

HomeAway.co.uk

, the UK's number one holiday rentals website. In addition,

as global hotel rates rose by an average of 4% in 2011*, 36% of respondents to

a survey by HomeAway.co.uk** stated they were considering alternative

accommodation this year, with holiday rentals the top choice for more than

80%, followed by B&Bs and caravans.

Saving money is also one of the top reasons why one in six holidaymakers will

spend their main break at home this year. Surprisingly though, should the

economy worsen, only 13% of holidaymakers would give up on their holiday

altogether; many more are happy to wait for a last minute deal (27%) or

choose a cheaper accommodation option (25%) instead.

The popularity of the Adriatic nations could also be down to Brits looking save

money by opting for better value destinations, with homeowners on

HomeAway.co.uk reporting increasing demand:

Paul Clarke, owner of a two-bedroom apartment in Kotor

(http://www.HomeAway.co.uk/p418835) commented: "I haven't experienced

any downturn due to the recession, in fact last year the apartment was booked

for 34 weeks of the year and this year is shaping up to be the same or even

better."

Montenegro

was the top performing market in terms of inventory growth on

HomeAway.co.uk from January to 31

st

March. Now seen as a safe place to

invest, it has not lost its value during the recession and experienced a healthy

87% year-on-year increase in the number of new properties added to the

website.

Nicky Anson, owner of two properties in Istria,

Croatia

(http://www.HomeAway.co.uk/p58273 and

http://www.HomeAway.co.uk/p67104), commented "2012 is shaping up to be

one of our best rental years yet, with high levels of booking enquiries from

January onwards. The end of April saw another flurry of bookings too as our last

available high season weeks were snapped up."

Croatia

was the third best performing destination for supply in the first quarter

of 2012, jumping one position from the fourth quarter of last year. With the

country's membership of the EU looming, its property market continues to see

a surge in demand by foreign buyers. Demand from tourists is growing rapidly

too, as also reported by Cosmos Holidays which recently announced sales have

quadrupled since last year.

Top 5 markets for growth in holiday rental supply in Q1

2012:

1.

Montenegro

(+87%)

2.

Holland

(+45%)

3.

Croatia

(+34%)

4. UK (+22%)

5.

Greece

(+21%)

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* Source: Hotels.com http://press.hotels.com/en-gb/2012-03-13/uk-travellers-

hit-by-hotel-price-rises-in-majority-of-favouritedestinations/

** Source: a sample of 900 visitors to HomeAway.co.uk in

April 2012