Holiday Let Rental Increase

[trireme]

We were due to fly out to Paphos next week, for a six week self catering apartment holiday, and for obvious reasons, won't be coming, the apartment owner, and Jet2 flights, have agreed full refunds, which is fine.

Just out of interest, I checked the apartment rental price for the same dates in 2021, and was amazed that the price had increased by almost 100%, at first I thought it might be an error, but no, the price has doubled, almost to the nearest £.

I understand that the holiday industry will try to recoup some lost revenue for 2020, but this level seems unacceptable, once you factor in the inevitable increase in flight prices, holiday insurance, car hire etc, I may be looking at spending my holidays closer to home.
Regards
Brian .

[emgee]

The owner is obviously re-writing the basics of supply and demand economics.

Glad you were refunded your monies.

Alan

[Dominic]

The owner has to recoup their losses. I can fully understand why they want to whack the price up. If nobody bites, they can always lower it again closer to the time.

[Big Al]

And there is the problem with the holiday companies offering vouchers as refunds, give you a voucher then increase the price,
Win Win for them

[Dominic]

And there is the problem with the holiday companies offering vouchers as refunds, give you a voucher then increase the price,
Win Win for them

I don't think anybody's got a "win win" situation out of this. More "survival bust".

[Cheshire Lad]

This is a situation right out of the Cypriot Playbook.

Restaurants have been doingvthisforyears......falling demand....putvtge price u pp to compensate.
As per emgee, they have their own version of supply and demand.

CL

[Cheshire Lad]

Sorry about the predictive text .....

[WHL]

This is a situation right out of the Cypriot Playbook.

Restaurants have been doingvthisforyears......falling demand....putvtge price u pp to compensate.
As per emgee, they have their own version of supply and demand.

CL

I haven't found this at all, the restaurant prices over here are very fair in my opinion.

[71 Trans Am]

Cheshire Lad is correct – We noticed years ago just after we started coming to Paphos – We took note of several Restaurant menu boards when walking around and would decide where and what we would eat on different nights and noticed on some nights ie- Tuesdays / Wednesdays The menu sheets had been changed and the prices were higher and come the weekend they were lower again – Never really understood how that works but it seemed on quieter nights the price went up and on busy nights it came down – Not sure if it still works like that now but it did then 16 years ago.

[merchant_banker]

Where holidays etc are covered by ABTA and ATOL guarantees, holidays purchased using a voucher are not.

The advice by consumer experts is to exercise your legal right and get a cash refund and then purchase the replacement holiday in the normal way, preferably using a (UK) credit card.

[Lincoln]

I believe in the "Woolworth's Principal" Sell at lowest price possible and so reap the benefits of high turnover, huge customer throughput and so a reasonable profit is achieved. It worked for me when in business in the UK and Overseas. Selling medical disposables to the healthcare industry. We shaved of some profit and got massive contracts, resulting in overall profit margins that supported the company and all staff, whilst leaving a small excess profit at the end of the business day.

[galexinda]

The owner has to recoup their losses. I can fully understand why they want to whack the price up. If nobody bites, they can always lower it again closer to the time.

This is what has happened in the long term rental market, not to recoup losses, just to see if people were prepared to pay a higher price - the prices went up considerably in a very short period and became unaffordable to the local market, but Expats retiring to Cyprus compared them with UK prices and were happy to pay the going rate. In our block In less than 2 months rents were raised by 30 per cent and new tenants were found within days.

[J B]

I believe in the "Woolworth's Principal" Sell at lowest price possible and so reap the benefits of high turnover, huge customer throughput and so a reasonable profit is achieved.

Not the best analogy - Woolies went bust!!!

[Dominic]

Tune in next week when Lincoln promotes the Titanic model of ocean navigation.

[WHL]

I think the fact that millions of kids, helped themselves to Wollys pick and mix, didnt help the balance sheets.

[Uncle D]

My wifes first job was on the broken biscuit counter

[Lofos-Jan]

We have a holiday let and have offered a transfer of the holiday to 2021. This has been taken up so far by all those who cannot fly this year.

Jeanne

[Dominic]

I think the fact that millions of kids, helped themselves to Wollys pick and mix, didnt help the balance sheets.

Just kids?

[WHL]

I think the fact that millions of kids, helped themselves to Wollys pick and mix, didnt help the balance sheets.

Just kids?

I guess it was everyone, there was a chap a few years back who sent Woolworths a cheque for some money, because he had this guilt about nicking sweets when he was a youngster, and wanted to unburden himself with the guilt feeling he had for many years

[Dominic]

Having bought a cheap set of saucepans once from Woolies, which fell apart soon afterwards, I feel no guilt for the sweeties that might have jumped into my pocket from the pic n mix.