Home sharing continues to democratize travel in Nashville and throughout Tennessee, providing affordable lodging for guests in a diverse array of neighborhoods while allowing hosts to take economic advantage of their most treasured asset — their homes.
However, there’s a third group benefitting from this exciting economic trend — local merchants. Restaurants, shops, cab drivers and a wide range of other small business owners are cashing in on Nashville Airbnb guests, who typically spend $184 a day in the City.
In fact, Airbnb recently reported $191 million in total spending by its guests to Nashville throughout 2016, including $74 million for the local restaurant industry alone. This is particularly fruitful for merchants in neighborhoods that lack hotels and have not traditionally experienced tourism revenue.
Nashville has faced a recent shortage of hotel inventory, with the local hotel occupancy rate having risen from 63% in 2008 to 74% in 2015 according to Visit Music City. The expanded lodging capacity afforded by home sharing platforms such as Airbnb has allowed more people to responsibly and authentically experience Nashville and infuse additional spending for the local merchant community — particularly during peak weekends where hotels sell out.
Airbnb and Responsible, Family-Friendly Tourism
Breakdown of Airbnb Guest Spending