Holiday rental earnings decrease in Lanzarote

The average nightly rate for holiday rentals (VV) across the island has been declining for six months, according to new data.

In March, 6,990 vacation rentals were available on the island. Of these, 95.6% were booked at an average rate of 186 euros per night. This generated a total of 24.1 million euros.

However, that figure is 3.1 million euros less than what was earned in March of last year, when there were 7,792 vacation rentals available, 97.2% of which were reserved at an average rate of 192 euros.

The decrease has been constant since October last year, representing a loss of several million Euros to the island’s economy.