![]() “Despite a lot of consumers pulling back on spending, the one area that I haven't seen them pull back on as much is travel,” Brian Chesky, co-founder and chief executive officer said during the company’s earnings call on November 1st. Globally, guest arrivals during the quarter exceeded 90 million-a record level. Nights and experiences booked in Q3 grew 25% compared to the same period last year. That prompted predictions of what could happen to the short term rental market amid a much anticipated recession.īut for any hosts experiencing fewer bookings, the problem may have more to do with supply than demand, which remains strong.Īirbnb recently posted its most profitable quarter ever. The online backlash also highlighted screenshots of some STR hosts wondering why their occupancies had recently fallen. (The company recently announced changes to address those complaints.) Rental requirements by some hosts such as cleanup tasks before check-out, and a lack of transparency in upfront pricing on the platform recently drew criticism via the viral hashtag #Airbnbbust. As it stood in September, 54% of active listings have been added to the platform since 2020, according to AirDNA, a short term rental (STR) data and analytics provider.Īctive Airbnb offerings in the third quarter of 2022 jumped 17.5% year-over-year, and 22.1% from the same period in 2019. “And we were one of the first in our neighborhood, actually, that did that.”Īirbnb listings skyrocketed during the pandemic. “Every single house on our street that has sold within the last year is becoming an Airbnb or has become one,” said Kristen. ![]() Roughly a year in, and dozens of YouTube videos about the experience later, the couple is definitely noticing more competition. “Even during the slow months, even during the summer, we got booked over every weekend,” Michael told Yahoo Finance. The couple, who asked to go by their first names only, listed it on short term rental platform Airbnb ( ABNB) as "Seventh Ray House." Last year the couple bought and renovated a 2 bed-1 bath ranch near Joshua Tree National Park. Los Angeles-based YouTubers Kristen and Michael knew their only chance at buying an income-generating property during the pandemic was to venture into the California desert.
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