States Ending Lockdowns See Rebound
Texas, Colorado, Tennessee, and Alabama all ended lockdown policies in late April and have seen significant increases in 30-day occupancy rates, a measure of the percentage of properties listed on Airbnb that are booked over the next 30 days, from the March lows.
Texas Airbnb 30-day occupancy rates reached 18.9% as of April 30th, a 18.6% increase from the 15.9% low on March 22nd. However, this still represents a 33.8% drop year-on-year.
Colorado Airbnb 30-day occupancy rates hit 25.7% on April 30th, a 22.8% increase from the March 16th low of 21.0%, and a 5.0% increase year-on-year.
Tennessee Airbnb 30-day occupancy rates climbed to 20.3% on April 30th, a 38.1% increase from the low, which was 14.7% on March 23nd, but still a 44.5% decline year-on-year.
Alabama Airbnb 30-day occupancy rates reached 27.0% on April 30th, a 41.4% increase from the March 23nd low of 19.1%, but nevertheless a 26.9% drop year-on-year.
No Rebound Visible For States Still in Lockdown
For states still in lockdown however, the rebound still remains elusive.
New York Airbnb 30-day occupancy rates hit 17.8% on April 30th, with no significant improvement compared to March levels. This represents a 41.7% decline year-on-year.
California Airbnb 30-day occupancy rates were at 18.7% on April 30th , again little changed from March levels and representing a 35.9% year-on-year drop.
Washington Airbnb 30-day occupancy rates were at 22.4% on April 30th, with no significant change from March levels and showing a 31.5% decline year-on-year.
Connecticut Airbnb 30-day occupancy rates were at 27.1% on April 30th, little changed from March levels and representing a 3.2% year-on-year decline.
These numbers give some room for optimism. If the US can reopen without having to revert to lockdowns in Airbnb’s core US and European markets, then we might see a decent recovery in 2020 for Airbnb bookings, and accommodations more broadly.