AirDNA analyzes the impact of Covid on Airbnb’s global offering
Barcelona: Short-term rental data provider AirDNA has released an in-depth analysis revealing the impact Covid-19 has had on Airbnb’s global supply.
From January to June 2020, Airbnb lost 5% of its total listings, but has since rebounded with growth of 2.5% from pre-pandemic levels. The striking difference can be seen at the market level, where the lack of demand in urban centers and global cities has caused Airbnb hosts to temporarily stop renting their properties or remove them from the platform altogether.
Jamie Lane, Vice President of Research at AirDNA, said: “The pandemic has dramatically changed many established Airbnb trends, especially in major Airbnb markets. While changes in supply have varied, for the most part the changes directly reflect how the nature of Covid-19 has transformed traveler behavior.
“As vaccines continue to roll out and pent-up demand accelerates bookings globally, we expect to see supply and growth, especially in the places that performed best in 2020,” he added.
Key points of the analysis of AirDNA’s offer:
Airbnb’s offering continues to diversify outside of urban areas in the United States, which accounted for 40% of supply in 2016 to just 20% in 2021.
Operators with more than 21 units have increased their number of available units by more than 14 percent over the past year, while announcements available [the number of active listings that have calendar availability or at least one booked day in the month] declined nine percent over the year for single hosts.
Collectively, Toronto, Montreal and Vancouver lost 22% of their active offer [number of listings viewable on Airbnb with at least one prior booked night] over the past year compared to a drop of just 3.5% in the rest of Canada.
Markets that have remained attractive to customers throughout the pandemic, such as Myrtle Beach, Tampa, Morehead City / Emerald Isle, and the U.S. Virgin Islands, have all registered significant gains since the start of the pandemic.
Cities like Amsterdam, Copenhagen and Oahu are expected to see faster rebounds in supply due to relatively small changes in active listings.
Markets such as New York, Toronto and Beijing have all seen significant declines in active and available listings, suggesting these declines are more likely to be permanent.