![]() The number of nights booked at US short-term rentals reached a record high in 2022, as did total revenue, according to AirDNA, which tracks properties listed on the vacation-rental sites Airbnb and Vrbo. The shift has sparked fears of an irreversible slide in the business and a broader economic slowdown.īut the hand-wringing over the idea of a downturn ignores a conflicting, but undeniable, reality: The short-term-rental business is bigger than ever, and some operators are thriving like never before. Whispers of an apocalyptic " Airbnbust" have spread online among short-term-rental hosts facing empty booking calendars, stiff competition for guests, and tumbling earnings. ![]() "We started panicking and started connecting with other folks who we know have short-term rentals," Sullivan told Insider. His cleaner was actually the first to point out the slowdown in bookings - she told Sullivan the same thing was happening with various rentals all over town. But this past fall, that income was slashed in half: Bookings dropped, his homes were empty more often than not, and his monthly revenue sank to $3,000. For the past few years, his two Airbnb properties around Charlotte, North Carolina, had generated as much as $7,000 a month in revenue, which he and his wife stashed away for retirement. Nick Sullivan was facing a sudden squeeze. As the industry grows up, cities can no longer afford to take a hands-off approach. ![]() Short-term rentals like those listed on Airbnb and Vrbo have never been in higher demand - or in greater supply. ![]()
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