Airbnb Booking Data Points to V-Shaped Recovery in Australia
Airbnb bookings in Australia are rebounding at an accelerating rate, implying a possible V-shaped recovery for short-term rental bookings, and potentially the accommodations industry and even the wider economy. This is according to booking data supplied by AllTheRooms Analytics, a provider of short-term rental and Airbnb data and analytics. The data shows a broad recovery across a number of Airbnb’s key markets in Australia. The United States and some European countries also continue to show signs of improvement. For this report, we analyzed short-term rental markets in three regions across Australia: New South Wales, Victoria and Queensland.
90-day Airbnb occupancy rates, the percentage of nights that properties listed on Airbnb are booked over the next 90 days, reached 17.48% on the 8th of May, a gain of 7.04% week-on week. That’s compared to a gain of 4.09% the week prior. Despite the promising rebound, 90-day Airbnb occupancy rates in the U.S. are still down 38.26% compared to 2019, but the year-on-year gap looks to be closing quickly.
“The rebound towards 2019 levels of bookings is accelerating, which obviously bodes well for Airbnb – we could be heading back to those levels sooner than we initially thought,” said Joseph DiTomaso, CEO of AllTheRooms Analytics.