Borders are closed, yet money is flowing to new Airbnb hosts

New type of hosts who appeared on Airbnb after the start of the epidemic have earned more than $1 billion. 

According to Airbnb.com, under the influence of Covid-19, people looked for safe, comfortable accommodations where they could contact their family members and friends, while at the same time they could create an economic opportunity of extra income for others who needed it by renting out their homes on the Airbnb platform.

Airbnb is an American vacation rental online marketplace company based in San Francisco. It maintains and hosts a marketplace accessible to consumers on its website or via an app. Through the service, users can arrange lodging, primarily homestays, and tourism experiences or list their properties for rental. Airbnb does not own any of the listed properties; instead, it profits by receiving commission from each booking.

According to a new Airbnb report, hosts who have just appeared on Airbnb, and who have listed property and greeted their first guest after the outbreak have already earned more than $1 billion in revenue globally. 

In the U.S., the typical new host earned $3,900, in revenue, according to the company’s announcement.

Globally, newly joined hosts earned more than $1 billion in revenue.

The company emphasised that people’s health is a priority for them. They ask their guests and hosts to abide by the safety rules, even in this challenging period.

According to a survey in which the hosts participated, many owners often use the money earned through the Airbnb platform to pay their bills.

Globally, half of the hosts stated in the survey that they use their revenue from Airbnb to keep and maintain their own homes.

Another interesting fact is that the company estimated that 55 per cent of these new Airbnb hosts are women, who have been hit particularly hard by the pandemic. Many of them have lost their jobs, so new sources of money, such as Airbnb, could help a lot in their financial situation.

Furthermore, according to the latest research, during the pandemic, 3 out of 10 landlords in the U.S. (29 per cent) used Airbnb’s revenue to pay off their mortgages or rent. And a quarter of the hosts (26 per cent) paid their debts out of it, while 10 per cent of them needed that money for health care.

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Source: Airbnb