VRMA Administrator
Airbnb said demand for short-term rentals in the United States is strong, rejecting data presented in a viral tweet that suggested revenue for property owners in some cities was down nearly 50 percent. “The data is not consistent with our own data,” said Sam Randall, an Airbnb spokesperson, in response to a Twitter thread that contained data the author said was from AllTheRooms. “As we said during our first-quarter earnings, more guests are traveling on Airbnb than ever before, with nights and experiences booked growing 19 percent in the first quarter of 2023 compared to a year ago.” According to the tweet, Sevierville, Tennessee, Phoenix, and Austin topped the list of U.S. cities with the biggest declines, with revenue per available listing decreasing as much as 48 percent in May over a three-month average compared with a year earlier. Nick Gerli, the author of the tweet who runs a consulting business and YouTube channel advising home buyers and real estate investors, attributed the slump to a decline in demand and increase in supply.
Bloomberg (06/29/23)
