Airbnb is proud to announce that our Chicago host community earned a combined $3.3 million in supplemental income during Lollapalooza, with close to 19,000 guest arrivals over the weekend.
This marks the largest influx of guests to Chicago in the history of Airbnb. The previous record was during Lollapalooza 2017, which brought 15,000 guest arrivals to Chicago.
Lollapalooza traditionally causes Chicago’s hotels to reach peak occupancy, with the recent growth of home sharing allowing for significantly expanded lodging capacity. Airbnb guests to Chicago spend over $171 a day on average with local restaurants and merchants, and 50% of that typically remains in the neighborhood in which they stay.
Airbnb activity during Lollapalooza 2018
This particularly brings economic activity to Chicago’s South Side — which has minimal hotel inventory. Airbnb hosts in South Side neighborhoods within a short commute or even walking distance to Grant Park are disproportionately benefitting from the Lollapalooza surge. South Side hosts will earn $500,000 in supplemental income during Lollapalooza while welcoming 4,000 guest arrivals. The typical South Side host will earn $465 over the 4-day stretch. The South Side neighborhoods experiencing the most robust economic activity this weekend are Bronzeville and Woodlawn, in addition to Pilsen.
“95% of Airbnb’s Chicago listings are outside of The Loop. We’re committed to catalyzing to economic development on the South Side and neighborhoods throughout the city that traditionally have not benefited from tourism revenue.”Will Burns, Midwest policy director for Airbnb
Airbnb is one of two short-term rental platforms licensed to operate in Chicago. Since the new home sharing rules went into effect two years ago, we have partnered with the city to share data and help hosts get licensed to share their homes.