Booking a private holiday rental with popular platforms like Airbnb and Vrbo might not be as cost-effective as many people assume. In fact, according to research conducted by Which?, these private booking options can be up to 19% more expensive than hotels on average. The study analyzed one-bed listings on Airbnb and Vrbo in 50 UK and international destinations, excluding five-star hotels, and found that 38 out of the 50 destinations had higher average costs for these private rentals compared to hotels.
Traditionally, accommodation rental companies have been seen as more affordable due to the absence of on-site staff, but the research suggests that the popularity surge they experienced during the pandemic has led to increased prices. The study highlighted some destinations where staying in a hotel can result in considerable savings. For example, on the Greek island of Santorini, a one-bed rental through Airbnb or Vrbo averaged £203 per night, which was 71% higher than the average hotel stay cost of £119. Over the course of a one-week holiday, choosing a hotel over a private rental would save travelers £588.
Similar findings were observed in other locations such as Amsterdam, where listings on rental platforms were, on average, 58% more expensive than hotels (£183 versus £116). Asian destinations like Hong Kong, Singapore, and Dubai also showed significant price differences, with hotel rates being notably cheaper.
The research further revealed that various UK tourist hotspots had more affordable hotel options compared to private rentals. For example, Southwold in Suffolk attracted many visitors despite an average hotel price of £155, which was still cheaper than the average cost of £233 per night for Airbnb and Vrbo listings. Hotels also proved to be a better deal when compared to private rentals in all the UK capital cities. In London, for instance, a private booking cost £162 versus £102 for a hotel stay. However, the study acknowledged that private rentals could offer good value for larger groups sharing the cost.
Rory Boland, editor of Which? Travel magazine, advised travelers not to assume that hotels are always more expensive and instead recommended comparing rates across different platforms. He also highlighted the potential savings for larger groups opting for private rentals. Graeme Buck, director of communications at travel trade organization Abta, suggested booking holiday accommodations as part of a package with an Abta member to secure the best deals.
It’s worth noting that the research considered average prices for a 12-month period up until May, focusing solely on entire property listings for Airbnb and Vrbo while excluding five-star hotels.
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