Airbnb Occupancy Soars as 1 Billion Hotel Rooms Stand Empty
Airbnb occupancy rates across North America soared this festive season as Bloomberg reported that the industry was on track to see 1 billion hotel rooms go unsold. DPGO dives into the data and takes a look at the top 10 cities and counties with the highest occupancy rates and daily rates over the 2020 festive period.
LOS ANGELES, Jan. 21, 2021 /PRNewswire-PRWeb/ -- According to Bloomberg, the 2020 festive period saw 1 billion hotel rooms unsold in the United States alone. That figure is, quite frankly, staggering. While the end of last year wasn't great for the hotel industry, the short-term vacation rental market fared pretty well over the festive period.
In an article published on December 11, 2020, Bloomberg writer Patrick Clark said "This year has been anything but normal, and the extra 350 million unsold nights come at a heavy cost. Based on an average daily rate of $131, hotel owners have seen about $46 billion in lost revenue."
We wanted to bring in the new year with a round-up of the top-performing counties and cities for short-term Airbnb rentals. This is just one example of the kind of in-depth data insights DPGO is capable of. We're experts in local market data and what better way to prove it than to create a comprehensive report, detailing all the facts and figures from the top-performing counties and cities in North America.
We've arranged this list according to the average occupancy rate figures over the 2020 Christmas period. For your interest, we've also mentioned the average daily rate for those areas too.
Now let's examine the Top 10 North American Cities/Counties, According to Occupancy Rate
According to our data, the counties with the highest occupancy rates are spread out across the North American continent. Our average occupancy rates are calculated by combining the occupancy rates of every property type.
And so, without further ado, the county with the highest occupancy rate is...
Maricopa, Arizona, US
Maricopa County in Arizona carries impressively high occupancy. As the metropolitan city of Phoenix falls under Maricopa County there was no real shock in seeing it on the list, but such high occupancy rates are always impressive. Maricopa's average occupancy rate was 94.04% and the average daily rate was $91.84.
Miami-Dade, Florida, US
Next up is Miami-Dade, a giant of US counties as it is home to Miami central and Miami Beach – two hugely popular STR locations. The average occupancy rate in Miami-Dade was 93.46%, with an average daily rate of $125.72.
Maui, Hawaii, US
Well, there's no surprise here – the holiday island of Hawaii is a logical feature on any top 10 Airbnb destinations. The average occupancy rate was 93.38% with an average daily rate of $199.41.
King County, Washington, US
Playing host to the behemoth city of Seattle, King County comes in with an average occupancy rate of 87.61% and an average daily rate of $85.61.
Whistler, British Columbia, Canada
Our first Canadian entry is an icon. The white ski slopes of Whistler are a huge hit in wintertime, and it's no surprise! The average occupancy rate was 87.13% with an average daily rate of $350.82 - the highest daily rate on our list!
Harris, Texas, US
Next up is Harris County, US. As home to Houston, Pasadena, and Baytown, Harris plays host to thousands of Airbnb listings. The average occupancy rate in Harris County, Texas was 79.71%, with an average daily rate of $73.39.
Fulton County, Georgia, US
Atlanta is a very popular city for Airbnb rentals, in fact, it's the 7th most popular! The average occupancy rate in Fulton County, Georgia was 79.60%, and the average daily rate was $100.09.
Los Angeles County, California, US
Los Angeles county comes in surprisingly low down on our top 10 list. The overall occupancy rate in Los Angeles County was 77.99% and the county's associated average daily rate came in at $102.05.
Toronto, Ontario, Canada
Toronto is arguably one of the most popular cities in Canada, and with that stunning skyline, it's almost expected. In Toronto, Ontario, the average occupancy rate over the festive period in 2020 was 61.73% and the average daily rate was $95.66.
Montréal, Québec, Canada
Last but certainly not least is the historic city of Montréal. Made of formerly independent cities, Montréal is a hugely popular tourist destination as it includes influences from a range of cultures and inspirations from various European cities. In Montréal, the average occupancy rate was 57.08% and the average daily rate was $76.41.
Ever wondered how the STR market in your city is performing? Find out by visiting the DPGO Markets page on our website, and see the aggregated data for your local market in real-time. Markets will show you a range of data relating to your STR location, including the average occupancy rate, average daily rate, market supply, minimum night stay, and more!
For more in-depth insights, register now with DPGO at http://www.dpgo.com and start dynamic pricing your Airbnb way to higher occupancy rates and revenue! We're even offering a free 30-day trial, register now to get started!
Media Contact
Christine Brown, DPGO, +1 (310) 307-8090, [email protected]
Christine Brown, DPGO, [email protected]
SOURCE DPGO
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