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    Airbnb Could Lose Significant Portion of Host Community To Long-Term Rental Sites

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    phyu treza
    Airbnb hosts around the world have lost most of their bookings due to the COVID-19 pandemic. Many hosts need a stable income and have deleted their Airbnb listings to switch to long-term rental sites that offer higher occupancy rates and more reliable income. A growing number of former Airbnb hosts in the US are listing on sites like Kopa and Homads that specialize in month-to-month and medium-term rentals. Airbnb may face difficulty getting these hosts to return once the pandemic lessens due to the financial losses hosts have experienced and their newfound loyalty to long-term rental platforms.

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    Airbnb Could Lose Significant Portion of Host Community To Long-Term Rental Sites

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    phyu treza
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    Airbnb hosts around the world have lost most of their bookings due to the COVID-19 pandemic. Many hosts need a stable income and have deleted their Airbnb listings to switch to long-term rental sites that offer higher occupancy rates and more reliable income. A growing number of former Airbnb hosts in the US are listing on sites like Kopa and Homads that specialize in month-to-month and medium-term rentals. Airbnb may face difficulty getting these hosts to return once the pandemic lessens due to the financial losses hosts have experienced and their newfound loyalty to long-term rental platforms.

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    Airbnb hosts around the world have lost most of their bookings due to the COVID-19 pandemic. Many hosts need a stable income and have deleted their Airbnb listings to switch to long-term rental sites that offer higher occupancy rates and more reliable income. A growing number of former Airbnb hosts in the US are listing on sites like Kopa and Homads that specialize in month-to-month and medium-term rentals. Airbnb may face difficulty getting these hosts to return once the pandemic lessens due to the financial losses hosts have experienced and their newfound loyalty to long-term rental platforms.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    20 views4 pages

    Airbnb Could Lose Significant Portion of Host Community To Long-Term Rental Sites

    Uploaded by

    phyu treza
    Airbnb hosts around the world have lost most of their bookings due to the COVID-19 pandemic. Many hosts need a stable income and have deleted their Airbnb listings to switch to long-term rental sites that offer higher occupancy rates and more reliable income. A growing number of former Airbnb hosts in the US are listing on sites like Kopa and Homads that specialize in month-to-month and medium-term rentals. Airbnb may face difficulty getting these hosts to return once the pandemic lessens due to the financial losses hosts have experienced and their newfound loyalty to long-term rental platforms.

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    © All Rights Reserved
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    of 4

    Airbnb Host Community

    Airbnb Could Lose Significant Portion of


    Host Community to Long-term Rental Sites
     April, 17 2020
     GlobalData

    Airbnb hosts around the world have been losing the vast majority of their bookings in recent
    months, many of them need a reliable form of income sooner rather than later. A growing
    number of hosts have deleted their Airbnb listings to make way for month-to-month leasing says
    GlobalData, a leading data and analytics company.

    Ralph Hollister, Travel & Tourism Analyst at GlobalData, comments: “Former Airbnb hosts are
    now listing their properties on longer term rental platforms. In the US, hosts are using listing
    services like San Francisco-based month-to-month rental service Kopa and Austin-based full-
    home medium-term rental platform Homads. The worry for Airbnb is that hosts may not return
    to the company when the impact of COVID-19 lessens”.

    Jack Forbes – CEO of Kopa, stated that rental sites such as Airbnb have an average annual
    occupancy rate of under 50%, whereas sites like Kopa aim for an occupancy rate of 95%. This
    may explain the growing allure of long-term rental sites, as they offer higher levels of reliability
    and security.

    Hollister continues: “According to GlobalData’s survey, 51% of Americans are extremely


    concerned about the COVID-19 outbreak, and 77% are expecting the situation to worsen in the
    next month. This may explain why hosts in the US have been so quick to state their loyalty
    elsewhere in order to boost their income.” 

    Usually, when a guest cancels on Airbnb, hosts receive some compensation, but Airbnb created a
    policy whereby hosts are forced to give refunds to guests cancelling due to the pandemic, leaving
    many hosts feeling betrayed by Airbnb as the company left them to fend for themselves.

    Hollister concludes: “Due to a significant amount of financial loss mainly due to COVID-19,
    Airbnb received a US$1bn vote of confidence from major Silicon Valley investors. The new
    funds included US$5m towards special relief grants to head off growing dismay among hosts.
    However, this dismay may have already tipped many hosts over the edge, resulting in a
    permanent loss of loyal users for the company.”
    According to WTTC (World Travel and Tourism Council)analysis, 75 million jobs around the
    world are at risk, with one million jobs on the line daily, significantly impacting major source
    markets.

    Ahead of the meeting, WTTC praised the G20 for freezing the debt of the world’s poorest
    countries as a major step towards enabling them to bolster their health systems, to save lives and
    combat COVID-19.

    According to WTTC analysis, 75 million jobs around the world are at risk, with one million jobs
    on the line daily, significantly impacting major source markets.

    Ahead of the meeting, WTTC praised the G20 for freezing the debt of the world’s poorest
    countries as a major step towards enabling them to bolster their health systems, to save lives and
    combat COVID-19.

    WTTC’s four principles to ensure swift recovery for the Travel & Tourism sector and the global
    economy following the end of the COVID-19 outbreak, are:

    1. A joint public-private coordinated approach across the G20 to re-establish effective


    operations, remove travel barriers and reopen borders. This would ensure the efficient
    resumption of flights, movement of people and widescale travel essential to re-build
    confidence in Travel & Tourism.
    2. Enhance the seamless traveller journey experience, combining the latest technology and
    protocols to increase health standards. Consider the “new normal” for the sector with
    components of health, security, hygiene and sustainability with a traveller centric
    approach.
    3. Work with the private sector and health experts to define global standards for the new
    normal, grounded in science which can be easily adopted by businesses of every size
    across all travel industries and can be implemented across the world.
    4. Continue to aid and assist to the Travel & Tourism sector during the recovery phase,
    throughout the entire travel eco-system. Financial support for workers, businesses and for
    promotion for a prompt recovery. It is vital the domino effect is fully realised so that
    businesses large and small can all recover and prosper.

    https://www.hotelnewsresource.com/article110352.html

    Only the G20 Can Drive Forward a


    Coordinated Recovery Response to the
    COVID-19 Crisis
    The G20 (or Group of Twenty) is an international forum for the governments and central bank governors
    from 19 countries and the European Union (EU). ... Membership of the G20 consists of 19 individual
    countries plus the European Union.

    https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2020-
    05/Barometer_May2020_full.pdf

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