REPORT: Airbnb price gouging could cost NCAA college basketball fans and parents thousands
As the NCAA college basketball tournament kicks off, AirbnbWATCH released a report showing significant price gouging by San Antonio Airbnb hosts, many of whom are commercial operators running multiple listings, for rentals during the College Basketball Final Four weekend.
Read our full report here – and the latest from Metro USA on the issue, below:
San Antonio Airbnb hosts jack prices in anticipation of the NCAA tournament
Families who have traveled to see their children play in the NCAA basketball tournament are learning a cruel lesson in capitalism after being hit with wildly gouged prices from San Antonio Airbnb hosts.
In a report issued by the diligence company AirbnbWATCH, they found that normally affordable housing prices have skyrocketed considerably in anticipation of this four-week long sporting event.
|Airbnb’s in San Antonio||Final Four and National Championship
Mar 31- Apr 2 Rate/Night
|Off Event Rate/Night||$ Rate Increase||Percent Increase|
|Eric & Mercedes’ House **||$899||$99||$800||808%|
|Alcala Family’s House||$2,995||$145||$2,850||1966%|
|Ryan’s Guesthouse **||$1,899||$159||$1,740||1094%|
|*All rates and unit availabilities subject to change per host preference
**Denotes commercial operator with multiple other listings including: Host Eric & Mercedes (3 listings), Host Ryan (2 listings), Host Todd (3 listings) and Host Dancito (4 listings)
One of the downtown San Antonio Airbnb apartments that the report found was initially priced at $888 for the duration of the tournament and has now been raised to more than $13,112 for the same amount of time. AirbnbWATCH had made similar findings of grotesque inflation during such events as the Super Bowl and Mardi Gras.
“Airbnb’s price gouging was a dream killer for many football fans during the Super Bowl and a buzz kill to party goers during Mardi Gras. Airbnb is continuing that practice with folks looking to enjoy one of America’s truly great sporting events, the College Basketball Final Four,” stated Lauren Windsor, AirbnbWATCH’s spokesperson. “Permitting their ‘hosts’ who, many times, let’s be honest, are real estate professionals, to raise rent by these astronomical rates is a very worrisome precedent that Airbnb is setting at widely attended events.” So the question is: What gives, Airbnb?