Luxury operator reports post-Brexit vote boom
The UK’s decision to leave the European Union has prompted an unexpected surge in holiday bookings for the continent, according to one luxury operator.
Sun-hat Villas & Resorts said its bookings in July were 18% up on July 2015, with the most popular destinations being the Algarve, mainland Spain, the Balearic Islands, Tuscany and the Canary Islands.
Managing director Peter Jenkins said the rise in bookings was contrary to expectations.
"I think most people in the industry had expected people to be a little more cautious following the vote, especially given the fluctuating exchange rate. However, the reality has been the complete opposite," he said.
"I think there’s definitely an element of the British stiff upper lip and not letting anything interfere with the traditional family summer holiday.
"Part of this trend could be attributed to people trying to get their European holidays in before Article 50 is invoked and any changes are mapped out. Of course, the reality is that there are varying accounts of when it will be actioned and Article 50 isn’t likely to change that much at all in terms of holidays, but it seems to be on the mind of many."
He is confident that future bookings are not going to be affected by the ongoing economic uncertainty, however.
"Let’s face it, the annual holiday is a British institution and isn’t something people like to mess with.
"During the 2008/09 credit crunch, we didn’t see a decline. Things like new cars and home improvements were put on a backburner so that cash was available for a week or two in the sun. We also find that if people are cutting back, they’ll opt for a villa holiday instead of 5-star all-inclusive.
"The Brexit boom actually means we’ve had our most successful year-to-date with a 23% increase in turnover, which was 15% above our forecast."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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