Airbnb’s start to 2017 is getting a major boost thanks to the U.S. Presidential Inauguration. Donald Trump is only a few days away from becoming the 45th President of the United States and the leader of the free world. But, a new analysis report by Airbnb reveals that the community marketplace is the true winner of the Presidential Inauguration.
The company initially planned on reaching 10,000 people and bringing $3.5 million in earnings for hosts in Washington D.C. However, the company estimates that Washington D.C. will now have over 13,000 Airbnb guests booked for January 20th, which will make it the biggest night ever for Airbnb in Washington D.C.
“These bookings represent an increase of 800 percent since Election Day 2016 and are estimated to bring over $10 million in economic impact to Washington, DC, and surrounding parts of Maryland and Northern Virginia,” explained on their website.
In addition, Airbnb points out that the number of people signing up for their service and becoming hosts in Washington D.C. has grown by 25% with prices averaging around $30 per night. Not to mention, Airbnb points out that DC-area hosts will earn over $5.9 million from reservations during the inauguration, which is more than 10 times higher than in 2013.
Ultimately, Airbnb explains that major events such as the Super Bowl and the Presidential inauguration gives middle class families the opportunity to make extra money by hosting travelers.
But, the impact of hosting far extends beyond the number of bookings. In fact, it will positively impact local business. The company asserts that Airbnb guests are expected to spend $4.7 million at restaurants, retailers and businesses in Washington, D.C.
Despite this major improvement in the number of Washington D.C. listings, New York, Los Angeles, San Francisco, Chicago, Seattle, Philadelphia, Portland, and Oakland are still the top cities for people using the Airbnb platform.
Launched in 2008, Airbnb is a online platform that allows for people to list and rent short term listings. Over the past 9 years, Airbnb features listings in over 34,000 cities, 1,400 castles, and has helped over 60,000,000 guests find a temporary home.