New Freedom of Information (FOI) data reveals that UK universities have generated nearly £100 million from renting out student accommodation as short stays across the summer period over the past three years. With 72% of institutions predicted to be in deficit this year, summer rentals have become an increasingly important revenue stream.
A recent article in The i highlights how universities such as University College London (£14.9m), Brunel University (£10.1m), and the University of Nottingham (£9.5m) are unlocking major revenue streams from otherwise vacant accommodation assets by offering them as short-term lets via platforms like Booking.com and Expedia. Some universities have seen this additional rental revenue double in just two years, as financial pressures force them to explore new ways of generating income.
Not all institutions, however, are capitalising on these low-hanging opportunities. While some universities have embraced short stays as a strategic tool, others continue to let thousands of rooms sit empty over the summer - a missed opportunity in an era of tightening budgets and rising costs.
Lavanda works with universities and operators to run exactly this kind of flexible summer programme - see student accommodation.
