National Report: Almost a Third of Airbnb’s Revenue Comes from Year-Round Rentals
Airbnb has an illegal hotel problem. According to a new national report released today, a huge portion of Airbnb’s revenue is driven by commercial landlords renting multiple units all year round. A far cry from the middle-class family occasionally renting out their spare room to earn some extra cash, these are basically full-time underground hotel businesses.
The numbers are pretty stark. Turns out hosts listing multiple residential units for rent on the site generated almost 40% of Airbnb’s revenue in 12 of the nation’s largest cities, and nearly one-third of the company’s revenue came from landlords offering units for more than 360 days a year. These full-time hosts are operating year round, just like a hotel, while dodging basic health, safety, zoning, and tax standards that even the smallest bed & breakfast has to follow.
Read the full report here, and check out some of the media coverage in Bloomberg, Los Angeles Times, Fortune, CNBC, Fast Company, TIME, and Skift, among others.