Ryanair sets up online market for skint holiday home owners

28 May 2009

With most holiday homes expected to languish for up to 70pc of the year, Europe-wide airline Ryanair has established an online marketplace aimed at helping people with foreign properties capitalise on the market for DIY holidaymakers.

The new site, Ryanair Villas, is being promoted by the airliner as a means for people with foreign properties to boost their incomes by capitalising on the increased demand for private self-catering accommodation.

The property crash and subsequent recession has left holiday home owners with a mortgage to pay and little cash or incentive to enjoy their investment.

Ryanair says it requires additional properties in order to make the site work, and is offering a 20pc discount to allow first-time advertisers to showcase their property to Ryanair’s 67 million passengers for €100.

According to Ryanair’s Stephen McNamara, holidaymakers are increasingly avoiding high-cost package holidays by opting for DIY self-catering holidays.

“Thousands of holiday homes lie idle for up to 70pc of the year with owners failing to unlock the significant income they could receive from renting out their property when they are not using it,” McNamara said.

By John Kennedy