![]() ![]() average daily rates for Airbnb and Vrbo rose 5% year over year in the third quarter. Guests are also having to pay more, according to Khan’s note, which said that U.S. Truist Securities analyst Naved Khan wrote in a recent note to investors, based on a call with Key Data and vTrips, which also collect data about Airbnb and Vrbo, that “while occupancy has ticked down in the U.S., we attribute the decline to a corresponding increase in supply coming online.” In the third quarter, occupancy fell 10%, according to Khan’s note. The company also found that September occupancy fell 1.2% year over year to 58.1%, but rose 11.1% from the same month in 2019. listings on Airbnb and Vrbo climbed to 1.38 million, up 23.2% year over year, and an increase of 8.7% compared with September 2019, according to AirDNA. ![]() ![]() Data shows supply has increased as more people like Malitsky put their properties up for rent when short-term rentals rose during the COVID-19 pandemic. The issue seems to be a matter more of supply than demand. The experiences of hosts from all over the country, plus bookings and other data, show that occupancy may have fallen due to a variety of factors: There are many more hosts on the platform prices have risen and travelers may be cutting back and pent-up travel demand after the coronavirus pandemic lockdowns drove bookings to record highs last year are coming back down to earth.ĪirDNA tracks listings and occupancy rates for Airbnb and rival Vrbo, which is owned by Expedia Group Inc.ĪirDNA economist Bram Gallagher said in an email to MarketWatch: “After two years of extended seasonality and many destinations benefiting from longer stays and more work-from-anywhere flexibility, we’re now seeing a correction toward a new benchmark year, where seasonality sits somewhere between the old normal and the 2021 boom.” Supply and demand Airbnb hosts are commiserating with one another about declining occupancy rates in Facebook groups, on Reddit and on Twitter, where a screenshot of a Facebook post went viral last weekend. ![]() His property hasn’t been booked for any dates in November and beyond - not even for the start of the ski season in December and January, a major tourist attraction for the Denver region. He said his bookings “fell off a cliff” in August. But after bringing in about $60,000 since he started renting his property on Airbnb ![]()
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