It’s not just the Crown Jewels that are bringing in the cash for the Royals. It turns out that the family is making a cool £1.425 million a year by letting out their holiday homes to the public!
A Royal Investment Portfolio
The royal family has four main properties open to the public for holiday rentals:
- Balmoral Castle: The iconic summer retreat in Scotland.
- The Castle of Mey’s Captain House: Situated in the Scottish Highlands.
- Restormel Manor: Located in Cornwall.
- Dumfries House: A grand estate in Ayrshire, Scotland.
A Premium Price Tag
The average room in a royal residence costs £1,335 per week, generating over £5,340 in monthly income. That’s more than the average monthly rent across the whole of the UK!
Balmoral Leads the Way
Balmoral Castle, the most famous of the royal holiday lets, is estimated to bring in a staggering £36,798.30 per month, after accounting for cancellations. With 7 rooms available, a 7-day stay costs a hefty £1,485.
The Rest of the Portfolio
The other royal properties also contribute significantly to the royal coffers:
- The Castle of Mey’s Captain House generates £3,709.92 per month.
- Dumfries House brings in a massive £31,185.63 per month.
- Restormel Manor rakes in £47,082 per month.
Balancing the Books
Cliff Ward, an expert from holiday lettings firm Pikl Insurance, who compiled the figures, says: “These figures are truly impressive and demonstrate the significant earning potential of these royal residences.
While these properties face the same challenges as any other holiday let, such as seasonal fluctuations and cancellations, the overall income is impressive and highlights the potential of this market.”
He also notes the challenges faced by the Crown in managing these historic properties, saying: “I can imagine that the crown has an important job to do when it comes to finding a delicate balance between maximising income to pay the teams that manage these buildings and preserving the heritage of these historic homes.”
So there you have it, the royal family is not just living in luxury, they’re also making a hefty profit from their stunning holiday homes! It seems like being a royal is a pretty good business after all!