It’s not too shocking to learn that Airbnb prices go up when there’s an event in town. It only makes sense.
But how much increase is acceptable?
ten%? 20%?
You may want to continue rounding.
A new study by money.co.uk analyzed the average cost per night of an Airbnb on the dates of the most popular events in the world this year. The average cost of an Airbnb in the same area for the week prior to the event was also taken to highlight the price difference and reveal which events have the greatest impact on accommodation cost.
Of all the events studied, the PGA Championship in Tulsa, Oklahoma saw the most dramatic increase, with average prices per night rising from $215 the week before the golf event to $1,502 during the tournament.
The Canadian Grand Prix – which takes place next month in Montreal – hasn’t fallen far behind, with average Airbnb prices rising 223.5% during the week of the big race.
To put that into perspective, the average one-night stay in Montreal, which typically hovers around $220, would cost you $848 during the Grand Prix.
Montrealers know that price hikes don’t stop at Airbnb. Restaurants, bars and hotels are all raising their prices during the city’s biggest tourist event of the year. So if you want to enjoy the roaring atmosphere of Formula 1, you better be prepared to serve some cheddar.
While the Grand Prix was the only Canadian event on the list, here’s how the rest of the top 10 ended up:
Rank
Event
City
Appointment
Average price per night (during event)
Average price per night (previous week)
Increase from previous week
1
PGA Championship
Tulsa, United States
May 16 to 22
$1,502
$215
597.5%
2
kentucky derby
Louisville, United States
May 7
$1,481
$334
342.8%
3
Monaco Grand Prix
Monte Carlo, Monaco
May 27 – 29
$1,398
$341
309.8%
4
British Grand Prix
Silverstone, United Kingdom
July 1 to 3
$835
$249
235.5%
5
Canadian Grand Prix
Montreal Canada
June 17 – 19
$848
$262
223.5%
6
24 hours of Le Mans
Le Mans, France
June 11 – 12
$415
$146
184.4%
7
Hungarian Grand Prix
Budapest, Hungary
July 29 to 31
$367
$153
140.4%
8
UCI Road World Championships
Wollongong, Australia
September 18 – 25
$781
$348
124.6%
9
Daytona 500
Daytona Beach, United States
February 20
$664
$298
122.4%
ten
Indianapolis 500
Indianapolis, United States
May 29
$563
$258
118.1%
So the next time you plan to travel to another city, planning your stay around big events can save you a ton of money. But, if you’re looking to join in the festivities, you might just have to bite the bullet.
To explore the rest of the money.co.uk study, click here.
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