According to data from AllTheRooms, Airbnb owners in the United States are expressing concern over a decline in bookings and lower earnings, which can reach up to a 50 percent decrease compared to the period from May 2022 to May 2023.
Many owners have taken to social media to express their disappointment, with some even reporting a complete absence of reservations.
The decline in Airbnb's numbers is evident, leading to a 10 percent drop in the stock market. The company has projected one of the lowest growth rates in its history after the surge of digital nomads during the post-pandemic period, when remote work became more prevalent.
Nick Gerli, CEO of Reventure Consulting, shared an analysis on Twitter using data from AllTheRooms, highlighting revenue declines in states like Tennessee, Montana, Idaho, and Oregon.
Phoenix was singled out as the epicenter of the collapse, with more than twice the number of properties listed for short-term rental compared to those available for sale. However, a drop in bookings or even the disappearance of Airbnb could lead to a catastrophe in the U.S. real estate market, triggering a massive wave of property sales due to the decline.
According to AllTheRooms, there are currently one million properties available for rent through Airbnb, compared to 570,000 homes for sale. If owners encounter difficulties with their mortgages and decide to sell, it could potentially cause a real estate crisis.
Texas is one of the states facing challenges, with a 40 to 50 percent decrease in bookings, especially in cities like San Antonio and Austin.
Responses to the thread also revealed that owners in Florida are experiencing similar difficulties, with some considering closing their businesses in Miami due to the decline in bookings, despite expecting to be in the Top 10.
Similar situations are occurring in various cities across California and other parts of the United States, where owners are struggling with the number of reservations on Airbnb.
"The data is not consistent with our own data," said Airbnb spokesperson Sam Randall.
"As we said during our first-quarter earnings, more guests are traveling on Airbnb than ever before, with nights and experiences booked growing 19 percent in the first quarter of 2023 compared to a year ago."
