Aribnb hosts earned $20 million this summer
ALBANY, N.Y. » According to Airbnb, the Capital Region host community earned a combined $20 million in supplemental income while welcoming approximately 110,000 guest arrivals to the region this summer, from Memorial Day weekend through Labor Day.
Albany County saw 10,700 guest arrivals with $1.4 million accrued in host income. Rensselaer County brought in 3,500 guest arrivals with $480,000 in host income. Saratoga County registered 29,900 guest arrivals and recorded $6.6 million in host income.
“Throughout the summer of 2019, we have continued to see the significant, positive impact of our short-term rental community across the Empire State, including in the Capital Region. With more guest arrivals this summer than ever before, hosts and small businesses have been able to enjoy the opportunities created by an expanded tourism economy,” Josh Meltzer, head of northeast public policy said.
“As we mark yet another historic summer and look ahead, our goal remains to work with the state and counties to ensure short-term rentals can continue to play a strong role in the New York economy, including by generating hundreds of millions of dollars in tax revenue,” Meltzer added.
The top five origin cities for Airbnb guests to the Capital Region this summer were, in order: New York City, New York; Boston, Massachusetts; Philadelphia,
Pennsylvania; Albany, New York; and Rochester, New York. This demonstrates the popularity of Airbnb among New York residents looking to explore their own state — as of July 2019, approximately nearly five million New Yorkers used Airbnb to travel over the past year.
In addition to helping hosts earn important supplemental income, Airbnb also helps generate revenue for local economies around the world. According to an Airbnb survey of more than 35,000 responses from their host and guest community in the United States:
• 92 percent of Airbnb hosts say they recommend restaurants and cafes to guests.
• 56 percent of Airbnb hosts say they recommend cultural activities such as museums, festivals, and historical sites to guests.
• 55 percent of Airbnb hosts say hosting has helped them afford their homes.
• On average, Airbnb guests say 41 percent of their spending occurs in the neighborhood where they stay.
Counties across the Capital Region are also benefiting from tax agreements that allow Airbnb to collect and remit local taxes on behalf of its hosts. Airbnb has reached such agreements with two counties in the Capital Region ( Rensselaer County and Schenectady County) and has remitted more than $3.5 million in local taxes statewide.