Airbnb’s Strong Q3, Sonder Collapses, and Instacart Tests STR Market
Summary
This week's roundup highlights Airbnb's strong financial performance, Sonder's bankruptcy, and Instacart's new partnership with Airbnb. Hosts should take note of the evolving market and consider how they can capitalize on opportunities like Instacart's grocery delivery service or the potential in rural Spanish markets.
Key Insights
- •Kansas City approved temporary 90-day permits for STRs during major events with a lower registration fee.
- •Airbnb reported a 10 percent year-over-year increase in revenue and more than $2 billion in adjusted EBITDA, showing strong growth.
- •Airbnb is shifting its focus to rural destinations in Spain, investing roughly $50 million over the next three years.
Action Items
- ✓Consider how you can integrate the new Instacart grocery delivery service into your guest experience.Effort: lowImpact: medium
- ✓If you operate in Kansas City, research the specifics of the new temporary permit process to ensure compliance.Effort: lowImpact: medium
Common Mistakes
- ⚠Hosts in Kansas City who fail to obtain the correct permits during major events risk fines and penalties.
More from Regulations & Compliance
The Green Bay City Council is set to vote on new short-term rental rules, which will likely impact local hosts. Details about the specific regulations are not yet known, but hosts should prepare to understand and adapt to the changes. Stay informed about the upcoming vote.
This article discusses the need for housebuilding to address temporary accommodation challenges. It argues that short-term solutions are not enough and should be supported by building more houses. This highlights the ongoing debate about housing affordability and its relationship to the STR market.
Hawaii's hotel industry and the governor are seeking to eliminate 30,000 vacation rentals. This move reflects ongoing tension between traditional hotels and the rapidly expanding short-term rental market. The potential reduction could reshape Hawaii's tourism landscape and affect rental income for hosts, alongside a shift in tourism economics.
Curated by Learn STR by GoStudioM