The American Hotel and Lodging Association released a report detailing the commercial activity taking place in Phoenix, Arizona, on short-term rental website Airbnb, and found that 85% of Airbnb operators listed properties for rent more than 30 days and received US$41 million in profits.
The findings indicate “these are not occasional renters,” the Washington, D.C.-based group said. Five ZIP codes in Phoenix drove 19% of Airbnb’s revenue in the Phoenix area, according to the study.
AH&LA’s report is the first in a series of 12 city-level reports on major U.S. markets. It’s the second phase of a national study conducted by Pennsylvania State University School of Hospitality Management that shows a growing number of commercial operators are using Airbnb to run what the organization calls “illicit and illegal hotels that compromise consumer safety and the security of neighborhoods.”
Other findings:
- 14% of operators listed properties for rent more than half the year (180 days), accounting for more than US$9 million in revenue for the company.
- Multi-unit operators accounting for 14% of hosts in Phoenix drove 40% of revenue in the metropolitan area, totaling more than US$17 million last year.
More details on the Phoenix report are available here.