V-Shaped Rebound in U.S. Airbnb Bookings Continues Despite Biggest Markets Remaining Closed
18 May, 2020, 09:47 ET
NEW YORK, May 18, 2020 /PRNewswire/ -- Airbnb booking data continues to point to a V-shaped rebound in the United States, with a slower recovery likely in Europe, according to AllTheRooms Analytics, a provider of short-term rental and Airbnb data and analytics.
U.S. 90-day Airbnb occupancy rates, the percentage of nights that properties listed on Airbnb are booked over the next 90 days, reached 18.2% as of May 15th. That represents a 36.8% drop year-on-year, compared to a 38.3% decline as of seven days ago, and a 40.2% decline as of fourteen days ago.
Top-performing states in the U.S. include Arizona, down only 16.2% year-on-year. Other states closest to 2019 levels of booking activity include Nebraska, down 13.9%, Maine, down 17.4%, Arkansas, down 18.0%, and Georgia, down 23.2%.
The U.S. rebound comes despite the three biggest domestic markets for Airbnb still being closed. California, where occupancy is down 46.7% year-on-year, is still on lockdown. Florida, where Gov. Ron DeSantis extended the state's temporary ban on short-term rentals, is down 38.0%, and New York, which largely remains on lockdown, is down 43.4%. These three states are home to 36% of U.S. Airbnb listings.
"The data shows a continuing rebound in the United States, with states that never had lockdowns or eased them earliest leading the way," said Joseph DiTomaso, CEO of AllTheRooms Analytics. "When the bigger markets start to come online, such as California, Florida, and New York, we're going to see the rebound to 2019 levels accelerate. Markets like Arizona suggest that there's still strong demand for short-term rental stays," he added.
The recovery in Europe may take longer. European occupancy is down 43.7% year-on-year, with Scandinavian countries outperforming. Airbnb occupancy in Denmark and Sweden is down 21.3% and 25.8% respectively year-on-year. Other significant European markets include Germany, down 34.1%, France, down 42.2%, Spain, down 45.0%, and Italy, down 51.9%.
About AllTheRooms Analytics
AllTheRooms Analytics is the leading provider of short-term rental and Airbnb data and analytics. As a recognized authority on vacation rental markets, we track the performance of over 12 million properties across more than 200,000 global markets on Airbnb and Vrbo. Our data and analytics provide actionable insights to vacation rental hosts and investors looking for the best place to buy a vacation rental. For more information please visit our website at alltherooms.com/analytics.
Contact: Steven Jankowski, [email protected]
SOURCE AllTheRooms Analytics, Inc.
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