[author: Natalie Afshar]
As cannabis legalization gains traction across the country, many business owners are looking for a way to merge cannabis-friendly atmospheres with vacation rental spaces.
The vacation rental market is undergoing a revamp suitable for 420 people, as some business owners in the sector are starting to offer cannabis in some rental locations. With cannabis growing beyond the traditional confines of dispensaries and grow sites, the hospitality space looks set to be the next big thing in the industry despite current regulations lagging behind the public good.
Sites like BudandBreakfast.com and Vibesbnb.com are two options that connect guests with hosts who allow the use of marijuana on their properties. Some properties offer more than just a space to consume cannabis – specific rentals can offer a variety of cannabis-related experiences and activities like yoga, massages, and sometimes even cannabis education classes. Similar to browsing the VRBO or Airbnb site, BudandBreakfast and Vibesbnb allow potential visitors to search by location, price, amenities and available facilities.
When booking the property, the rental owner designates specific smoking areas for guests. Rental owners also have the option of providing cannabis to guests or specifying whether guests should bring their own. This new business model is proving extremely popular – some rental spaces are currently booked six months in advance.
Currently, BudandBreakfast hosts 2,000 listings – a much smaller market than the listing reach of VRBO and Airbnb. Despite the limited number of cannabis rental properties currently available, analysts expect huge returns for cannabis tourism. Forbes predicts that cannabis tourism is a $17 billion industry.1 Combined with cannabis sales estimates that are expected to grow from $25 billion in 2021 to $42 billion in 2026,2 it is clear that the industry has the capital to develop in the areas of tourism and hospitality.
Beyond the aforementioned rental websites, many people are actively looking to innovate with cannabis-friendly spaces across the country. In Washington DC, Nicole Butler runs a bed-and-breakfast where she greets customers with cannabis products.3 To amp up the bed-and-breakfast aspect of the rental, she offers guests a variety of cannabis-infused snacks and foods.
Similarly, entrepreneur Deontae Mack is creating his own cannabis-friendly rentals in Florida following the state’s 2016 bill that allowed medical use on private property.4 Its goal is to be the Airbnb of cannabis in Florida, however, Florida still does not allow the recreational use of cannabis.
Despite the clear push for the cannabis industry to officially break into the hospitality industry, licensing of these products is severely restricted, even in cannabis-friendly states like Colorado. In 2019, the company detailed some of the hospitality rules regarding cannabis in Colorado, here. Even with the large role of the cannabis industry in Colorado, the Marijuana Enforcement Division Reports that as of October 1, 2022, there were only eight hospitality licenses issued statewide.5
As lawmakers scramble to respond to the momentum of the cannabis industry, industry players are actively looking for the new market frontier. Adding cannabis to a rental experience could be a great way to work within the confines of the home space while meeting existing strong consumer interest. Websites that offer cannabis-friendly rentals are expected to double in size and popularity as cannabis legalization moves across the country.
- Yakowicz, Will. “Cannabis tourism is now a $17 billion industry and it’s just taking off.” Forbes
- Sykes, Stefan. “Check in, smoke and log out: Cannabis-friendly vacation rentals are on the rise. CNBC
- Sykes, Stefan. “Check in, smoke and log out: Cannabis-friendly vacation rentals are on the rise. CNBC
- Sykes, Stefan. “Check in, smoke and log out: Cannabis-friendly vacation rentals are on the rise. CNBC
- Marijuana Enforcement Division. “Hospitality.” https://docs.google.com/spreadsheets/d/1FF0Cd-XW13BQC1rvo-YlUYAHYVMlpRfdl5XyqZ9hCng/edit#gid=603649298
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