Airbnb and Vrbo are racking up business as some people are using the platforms to create extra cash flow. Seattle is a great place for those looking to use short term leases to host guests and make money. A tweet recently went viral stating that Airbnb revenue in Seattle was down over 35%. If that is the case, it would be shocking and horrible for those seeking to get into the business. But, the company said there was a drop but only 6%.
Airbnb has a great business model that has 5.6 million users on its platform. Vrbo in comparison has 2.6 million. The data claiming to huge drop was for the period May 2022 to May 2023. The company shared the following statement: “The data is not consistent with our own data. As we said during our Q1 earnings, more guests are traveling on Airbnb than ever before, with Nights and Experiences Booked growing 19% in Q1 2023 compared to a year ago.”
A decrease in revenue of 6% is still puzzling when viewed next to the statement released by Airbnb. Those looking to make income in Seattle using Airbnb has so much going in their favor the lease of which is a city that has big events and many willing to spend extra to stay in the Emerald city. Airbnb as benefits people who are travelers and people who want to make more money with their or someone else’sproperty.
The auto side of this type of sharing is Getaround and Turo. Entrepreneurs can make money sharing their vehicles. Everything seems to be using the Uber model. It is easy and the advertising and billing is done for both the guests and hosts. Some are saying that any dips in revenue are seasonal. High travel times will increase rental home sharing.
Experts say that the tweet that went out was just a tweet that had the wrong numbers. However, experts are saying that saturation may be a factor and moreso as more people are looking to substitute their income using this model.
