Holiday homes in Menorca

The recovery is evident in the whole of the Balearics. | Gemma Andreu

Andrew EdePalma07/08/2022 09:23
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According to Jordi Cerdó, the president of the FETV federation of holiday rentals, occupancy in August will be around 90% and so more or less the same as it was in July.

Cerdó adds that cancellations due to airline strikes have had comparatively little impact - some five per cent of bookings.

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There has been a strong recovery of the holiday rentals market this season, as last year it was only 34%. But profitability for 2022 has yet to be assessed, given the extra costs brought about by inflation and the fact that there was very little margin to raise prices.

"We have a problem in that we supply prices to the agencies a year or two in advance. I am already giving prices for 2023 and 2024, and adjusting these later is very difficult."

The FETV created its own website last year, rentallorca.com, in order to have direct management of reservations and avoid intermediaries such as Airbnb. "The aim is that income from all the tourism here goes to businesses on the island. We provide outlets for gardening, maintenance, cleaning - a whole series of services."