In August, AirDNA reported that markets where supply had grown by more than 50% had an average occupancy decline of over 10% and saw revenues drop by 8%. short-term rental markets from July through September, according to AirDNA. Hosts complaining of low bookings weren’t imagining things: Occupancy rates fell in 31 of the top 50 largest U.S. Now, Marr says, things have changed: ”The rapid surge in mortgage rates and the resulting fewer homeowners motivated to sell now have kept home prices high and the affordability crisis raging.” The deal with high demand
You might also never see your host.“A lot of the supply in these markets shifted away from the for-sale market and long-term rental market towards the short-term rental market amidst a surge of demand for Airbnbs and other vacation rentals,” says Taylor Marr, deputy chief economist for real estate brokerage Redfin. "In many instances, the B&B is a historic property or has a unique quality about the building or property." A home rented online through Airbnb can also be special, but you might have to cook and clean for yourself. "A true B&B is typically independently owned, and the owner lives on property or nearby, provides daily breakfast and housekeeping and the experience is very personal," explains Hana Pevny, an Airbnb host and the innkeeper at the Waldo Emerson Inn in Kennebunkport, Maine. It's included in the price of your stay.Ī typical Airbnb will have a kitchen, sometimes stocked with coffee and tea, but rarely, if ever, will a host prepare a full breakfast.Ī "unique" property with personalized service. "The difference between an Airbnb and a B&B starts with a complimentary full breakfast," says Brian Shields, the owner of Manor On Golden Pond, a small inn in Holderness, New Hampshire. Guests at the Manor begin breakfast with a buffet of fruit, cereal, yogurt, pastries followed by an eight-item hot entrée menu.
The second "B" in B&B (as in "breakfast") is the biggest distinguishing feature.
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