Airbnb hosts who anticipated earning thousands during the World Cup have revealed that their properties are not being booked, as tourists are deterred by exorbitant prices. Supporters from around the globe will converge on Mexico, Canada, and the US this summer for the FIFA World Cup, but fans have been forced to spend thousands on game tickets, transportation, and accommodation.
Hosts Left Disappointed
Some Airbnb hosts who expected to make massive profits say they have not received a single booking for the weeks the World Cup is in their cities. Mae Stewart, a host in Atlanta, Georgia, told The Wall Street Journal she spent $60,000 remodeling her Airbnb to attract World Cup attendees. She is charging roughly $4,500 for a weeklong stay in mid-July but revealed she hasn't received a single booking for that period. 'I don't think it's going to be the huge windfall that I once thought it was,' Stewart said.
On social media, fellow Airbnb owners have expressed similar frustrations. 'My Airbnb is just outside Seattle, and all indications here are that the World Cup will be a flop,' one host wrote on Reddit. 'I’ve been watching hotel rates go down and FIFA constantly announcing new rounds of tickets for sale. My bookings are very very slow.' Another host added, 'I am seeing no change to normal summer bookings in New Jersey, and zero guests mentioning the World Cup at all.'
Market Expectations vs. Reality
A Deloitte report had forecast high demand for Airbnb listings, partly due to surging hotel prices associated with large events like the World Cup. Airbnb launched a campaign enticing property owners to list short-term rentals, advertising that net hosts could earn more than $200 million based on Deloitte analytics. However, reality has been different.
In Houston, Texas, host Kat Longoria told the WSJ that she has booked her property for about a third of the month and does not plan to lower her fees. 'There's not a whole lot out there,' said Longoria. 'So I don't have any intentions of lowering my prices.'
Jamie Lane, chief economist at short-term rental data analytics company AirDNA, noted that while many people wait until the last minute to book, some hosts are overly optimistic about pricing. 'There's also the dreamers, who think they can get $2,000, $5,000 a night,' Lane said.
Optimism for Future Bookings
Juan David Borrero, Airbnb's global head of partnerships, said the company expects more bookings as the World Cup approaches. 'I think we're going to see more demand as the tournament starts to unfold,' he said, 'just because that is the nature of the tournament.' The Daily Mail contacted Airbnb for comment.
