In a few weeks, thousands will flock to Austin for the 2016 South by Southwest Music Film and Interactive Festival. For big events like SxSW, Airbnb leverages people’s greatest expense – their homes – to accommodate peak demand, allowing cities to focus on the infrastructure investments that are most needed. As a result, local households earn additional income, and spending is distributed to more businesses and neighborhoods throughout the city. Here are some facts from last year’s festival:
- 17,000 guests stayed in Airbnb’s during last year’s festival, generating $22.8 million for Austin businesses
- Local Airbnb Hosts made $10.2 million from sharing their homes
- Airbnb guests saved more than $115 per night in accommodation cost compared to hotel guests,with an average nightly price of $214 versus $330 per night on average for a hotel room
- The Airbnb Community generated $33 million in economic activity in 2015
We only expect the number of guests staying in Airbnbs during SxSW to increase this year. A month out until the 2016 festival and Airbnb bookings have outpaced 2015 rates significantly
We look forward to working to working with Austin, and cities around the globe as they welcome visitors for major events. We believe this is just the beginning, and going forward, Airbnb will be a growing part of how cities host events like SxSW, the Olympics and more.