Can't comment on the macroeconomic trends, but personally as a consumer, hotels are more attractive than AirBNBs for <1-week stays due to cleaning fee and chore lists ($250 cleaning fee per stay, still have to clean up the house and pack the garbage out). Most of my travel is solo for work for 2-3 days so this nudges me towards hotels.
For 1+ week stays AirBNBs make more sense (family vacay, larger house with children), though it seems like the house owner lists the same house on VRBO and for whatever reason prices it slightly cheaper there, so I just book it at the cheaper place.
Hotels win for some intersection of short-duration-of-stay and low guest count (with the break-even point varying somewhat as both those figures vary)
AirBnB wins for longer stays with more guests, or if you want to stay somewhere without hotels (but with houses) and also don't want to camp.
Stopping one night on a leg of a long drive, not really doing anything in the room except sleeping for a few hours: hotel/motel tends to win by a long shot. Staying somewhere for several nights with a family of 4+ or a group of friends or something: AirBnB (and similar services) tends to win.
> Stopping one night on a leg of a long drive, not really doing anything in the room except sleeping for a few hours: hotel/motel tends to win by a long shot.
Unless your co-traveller (spouse or not) snores like a motorcycle and having a room to stuff them in (or escape to) has a ton of value.
Oh hello my mother-in-law, didn’t expect to see you here… uhhh…
You have to complete a “chore list” for Airbnb stays now? I thought this was a meme or joke.
Why do people put up with this shit, especially on vacation? Why go on vacation to do chores afterwards? May as well stay home and not have to pay for the experience.
For single travelers IMO there isn't a good reason to pick Airbnb over a hotel. But there are types of properties that aren't really available widely in hotel-form: the vacation house.
Want to gather with your family in a big house for some holiday? There isn't really anything else other than Airbnb (or Vrbo, which has many of the same issues). Some very heavily vacation-oriented places have hotels that rent out properties of that sort, but in most places this isn't an available product category.
Buuuut even with this said, I'm very hesitant to stay in Airbnbs nowadays.
I just had a terrible experience a month ago - rented a vacation house that had great reviews and looked great. Arrived after a red-eye flight and a long drive... and the lockbox code is wrong. The house is also in the woods so there was no cell reception, so drove a half hour to the nearest area with reception, contacted the host (hosts are never available on Airbnb, naturally), sorted that out, and got into the house... and it was filthy. Top to bottom filthy with air fresheners in every room to cover the smell.
Immediately left and booked a room at the local Hampton Inn, which was overall a far superior experience. Airbnb in all of their grace only gave me ~70% back despite y'know, a totally unusable product. I'm still out over ~$1,000 over the whole thing, and Airbnb seems entirely ok with... what feels a lot like fraud?
The reliability of the Airbnb experience is so poor that I'm at this point completely unwilling to hinge a family vacation on it. It's like rolling a 1d6 and needing to score 3 or above. Just way too risky.
Seems like the Hampton inn suites are the hotel alternative for family vacations. The ones I’m thinking of are basically complete with a fridge, cooking range, and apparently on premise laundry. Being able to get a separate room for kids with a door open between the two is a thing at many places too.
And of course you’re just dealing with a corporation. It’s not someone’s personal home. The management might be weird at a hotel or something but that weirdness would still be spread across many more units-and it has other mechanisms and people in play to normalize the whole experience. AirBnB seems much more ripe for abuse.
This seems to be a very common experience. I suggested booking an AirBNB for a team off-site a few months ago and heard half a dozen variations on it from a ten person team: code wrong and no host overnight, blatantly misrepresented properties, toilets overflowing upon entry, no power, etc. I haven't travelled much in a good number of years so I was very surprised how much the situation had changed.
I've never experienced the bad ones that want you to clean the place top-to-bottom. I believe they exist, but I've not seen it, and have been averaging probably 4ish AirBnB stays per year for several years (I'm posting from one now!). It's usually like "please load & start the dishwasher and take the trash out before leaving". Reasonable stuff, not, like, hours of work. Most onerous I've seen is stripping the beds and starting the first load of that laundry, which takes maybe ten minutes with several beds and only one person doing it. We tend to do more because we have young kids who make messes, so we clean up after them just so it doesn't turn into a truly unreasonable mess and/or outright damage (and because living in filth isn't pleasant) but that's not because of the chore list.
> Why do people put up with this shit, especially on vacation? Why go on vacation to do chores afterwards? May as well stay home and not have to pay for the experience.
Shrug. The way we use it, it's more like temporarily owning a vacation home than being in a hotel. With the good and the bad of that. Lots of space and beds for way less money than that'd cost in a hotel. Easy access to a washer and dryer, full kitchen, full-size fridge with freezer, and often in locations without any options for normal hotels. Far nicer to hang out in/around than hotel rooms, short of luxury suites and such. But you also can't be quite as messy as some people are comfortable being in a hotel—if we e.g. get crumbs all over the carpet or track a little dirt in, we vacuum it up like we would at home, rather than just grinding it into the fibers and leaving it to the cleaners. We'd do that in hotels, too, if they had a vacuum in the room. It's really not a big deal.
I guess I'm not following how people avoid the most time-consuming ones while traveling simply by picking a hotel over an AirBnB. Gotta do laundry (or pay to have it done). Gotta shop for food, cook it, and clean up after (or pay someone else to do that for you). Those aren't an AirBnB vs hotel thing.
The ones we do avoid by staying in hotels or AirBnBs—either—are things like dusting, whole-house floor cleaning, laundering bedding (entirely, in all but one case, and in that exception we only had to do like 5% of the work, it took less time than stopping to refuel the car on a long drive, or many airport security lines), cleaning bathrooms, weeding landscaping beds, mowing the lawn, stuff like that. We get that benefit in both. Basically the same thing you'd get having a once- or twice-a-week cleaning service and a lawn service.
I get that maybe some AirBnBs really do have absurd "chore lists", but nearly all the ones I've stayed at, we're talking like 15 minutes of effort for a whole week, maybe, that might have been avoided by staying in a hotel. Basically, take out the trash and don't leave dirty dishes scattered around the whole house. It's super not a big deal.
I'm more than willing to empty my own trash and wash my own dishes if it means I'm staying in a multi-bedroom house/condo with ample space and amenities.
Staying for more than a few days in a hotel is depressing and claustrophobic.
If you pick the correct one, you are afforded more privacy, and a cleaner stay, with the con of needing to throw your bedding in the wash and take your takeout trash to the dumpster on the way out.
I don't see the logic in singling out the cleaning fee. I guess it's because AirBnB gives us the opportunity by calling it out as a seperate fee. I always look at the total, including fees. That's the only number I care about and that's what I compare to hotels. I think AirBnB would do themselves a favor by incorporating the cleaning fee into the base price and not calling it out separately.
As for the chore list, I may recall a couple annoying ones from years past, but usually it's a non-issue. Though unfortunately I don't think this is something you know until after you book.
The cleaning fees on AirBnB are dishonest (hidden by default), ridiculously high, and redundant with giant list of chores that make me do all the cleaning anyway. They're predatory and greedy and deserve all the calling out they get.
AirBnB cleaning fees are the same garbage as eBay sales for $1.99, $50 shipping, and should be banned by policy.
A fee is something additional, tacked on for something special, something that I can avoid.
Like a car rental 'return with have a tank of gas'-fee. I can avoid that.
But I am sick of these websites that show price X, but then tack on 5 fees that I cannot avoid.
Hotels with resort fee. I can't avoid it, ergo it should be part of the base price.
Restaurants with extra fees to pay their people extra. Can't avoid it, should be part of the base price.
It's becoming harder and harder to compare things. Nothing is stopping people from wanting X per night, but advertising X-Y and adding fees to make up for Y. And that is deceptive advertising.
These are a result of some jurisdictions, such as certain municipalities, having it within their bylaws/legislation that these fees must be applied and that they must appear as separate line items (like taxes). The result is the effect you see, where the displayed price does not include those fees due to the nature of the rest of the markets not having such fees and coding in those edge cases is like dealing with taxes... A near impossible task to keep up with.
The outcome is that the systems are built to allow such additional fees and by default (or exclusively) they are not included in the base price (which is generally the same across markets).
And thus we have what we have... And some abuse this to add even more fees of course.
I'm sure a billion dollar company with 5,000 employees can't find the time to include a computed "total price" column in their database for total price. Sorry, not buying it.
Something being a separate line item does not mean it can't appear in the total price. You have to intentionally build a system to be that deceptive.
Most non-American jurisdictions include tax in the listed price. Even AirBNB does for German customers: https://i.imgur.com/j7ot5xz.png
Look at my screenshot. For german users, the map display price is $131. That's the $81 base price plus taxes plus fees. All shown in the initial UI where it's easily understood by the user, nothing hidden.
This is really the kicker. Not only is the phenomenon really shitty, but Airbnb's refusal to police the practice shows that their interests are firmly aligned against actual guests and instead aligned with hosts.
A lot of the platform's problems come down to this alignment problem. As Airbnb has matured as a service I've found that hosts have gotten lazier and lazier - the chore lists are a relatively recent phenomenon of the last few years. The platform is rife with "hosts" who have no interest in actually running a hospitality business, and are only interested in passive income, and Airbnb itself refuses to uphold any consistent bar and forcing poor hosts off.
This has been wildly destructive to the trustworthiness of the business.
I would be more willing to attribute this stuff to growing pains if I didn't feel like these issues are only symptoms of a significant misalignment between guests and Airbnb corporate.
> eBay sales for $1.99, $50 shipping, and should be banned by policy.
eBay deprioritizes listings like those, and is generally up-front with fixed&calculated shipping costs.
In an effort to compete with Amazon, eBay really wants sellers to offer free shipping but sellers hate it because it’s often not a fixed cost (especially here in Canada).
eBay used to exclude shipping costs from their commissions. So sellers, like me, used to list things for $0.01 and $X shipping (literally in the title) until eBay caught on.
But nobody was stopping you from paying more for the same item with realistic/free shipping.
Plus you get a bad rating if you miss something on a long list. They should tell me ahead of time that I should schedule an hour to complete all the tasks before I’ve come up with my itinerary with an early morning flight.
The fees vary wildly, from reasonable to outrageous. Some cleaning fees I've seen are as much as $500. At the time I was looking, these were not shown by Airbnb until checkout. It was an awful experience.
The reasoning for showing cleaning separately is so that the daily rate isn't inflated. If I was wondering how many nights to stay, and saw the cost for one night as say $300, then I'd guess five nights would be $1500; in fact though the cleaning cost (usually paid direct to the cleaners) might be $150, and $150 for the accommodation, so five nights total cost would be a more affordable $900.
Edit to add: we have one Airbnb apartment, and zero chores for guests to do; our cleaners get our cleaning fee and we have laundry costs on top of that. Not all Airbnbs are a ripoff.
Right, so including the cleaning fee in the base price would incentivize owners to keep the fees low, as well as creating a much better experience for renters trying to find places in their budget.
VRBO is just as bad as AirBNB if not worse. We had a miserable host who showed up with her dog and stayed in the house until we all left, it was absolutely weird. VRBO removed all of our reviews about it.
Also, lots of hotels have rooms with kitchens in them.
Serious question: if I am on vacation, why do I need a full sized kitchen and fridge? If you are just cooking at the short term rental, and not experiencing the area. Then what’s the point of taking a vacation in the first place?
At most, all you really need is a mini fridge to store take out and alcohol.
The only use case I can think of for having a full kitchen, fridge, and other amenities is for temporary workers. Maybe a company has their consultants stay at an AirBnB with the aforementioned amenities and in an attempt to reel in the costs, will only approve business meals with clients and personal meal expenses if cooked at the STR (ie, grocery store line items).
Because not everyone has the same needs and preferences as you:
- Some people like to cook. I ran into a guy on a recent vacation to Lyon (one of the best cities for restaurants in the world) who was in a rental house because he wanted to cook himself at least every other dinner.
- Some people can't afford to eat out every meal and can save a lot by cooking many of their meals
- As others have mentioned: people with families
- Sometimes you're in an area without good eating-out options. If you're in a rural area, your options might be "drive 30m into town" or "wait 1 hour for the exactly one pizza delivery place."
- Sometimes you're in a place for a specific reason, and that reason's not food. For example, I've visited the Tahoe area in California to ski. I'm not there to experience Tahoe cuisine - I'm happy to make simple dinners every night and spend the rest of my time doing what I'm there to do.
There are a ton of reasons to want a full kitchen, depending on your needs + style of travel.
In most of the world, takeout food isn’t the greatest for health, and possibly dangerous if your immunity doesn’t match the local’s. If you’re on the road often, as GP is, prepping your own food may again be favourable (and doubly so if you have any kind of stringent diet restrictions).
Edit: would add, in some places, your takeout/dining choices vapourize on some days of the week or holidays.
cooking with your friends and family can be fun, relaxing and cheaper than eating out ... imagine an afternoon on a sunny day in a nice backyard, grilling some food, drinking beer/whatever and enjoying the company of your friends and family.
Right, longer stays with kids, AirBnBs are almost always more attractive because there can be a kitchen & more spaces. It's hard to dine out all the time with kids.
when traveling for work why does the cleaning fee factor in, or is it just the chores does your work not book your travel? or do they give you a flat fee and tell you to find your own accommodations and any money extra/left over is your own deal?
I travel 300+ days a year for work.
I book my own place to stay using my company credit card.
Never really tested the upper bound of what I’m allowed to pay per night, but I do live comfortably. The megacorp I work for has a booking system we’re supposed to use, but I’ve never used it. I figured if I bend the rules to everyone’s advantage, no one will complain.
Generally I use booking.com(for those sweet sweet miles & more points) or call the establishment directly to get the best possible price.
I've stayed in 30+ airbnb's around the world and I've never encountered the cleaning fee on top of a chore list that is so reviled on reddit and twitter. The only time I had to clean, the host just informed me that there wasn't a cleaning fee so I'd have to do it myself. Still sucked (went out and bought cleaning supplies and took a whole day) but seemed fair.
Interesting. I travel mainly in the US and of the approximately 10 visits I can’t remember an instance where I didn’t pay a cleaning fee while also dealing with a chore list.
It’s pretty sharp in my mind because it always frustrates me so much.
Yeah most of mine were in San Jose, CA, but this was 4 years ago and they were single rooms (not an entire apartment), so I wonder if the practice has grown since then. I still don't like airbnb for other reasons: broken stuff (even in well reviewed places), worsens the housing crisis, poor quality but nice looking furniture. The furniture is "bony."
It is very much a US thing. I've stayed in AirBNBs in India and the US, and a majority of the AirBNBs I've stayed in the US have a cleaning fee, while none of the ones I stayed in India did.
I don't think I ever had an excellent rental experience. There is always something broken. Something not as advertised. Pictures are often deceiving. It is often difficult to deal with the host, as some are trying to make it their primary income and managing several properties. The chore lists are pathetic.
I would rather pay more and get a consistent experience from a hotel/resort.
I had an absolutely terrible experience once that stems from AirBNB not inspecting any listings for things like bugs. It completely turned me off the whole system. VRBO seems to have a better system because they have regional managers in areas with lots of rentals, so there's a third party there who can deal with some issues you might have. Offloading all of that onto hosts leads to some pretty major conflicts of interest, where it's in AirBNB's best interest to pawn you off onto the owner, and it's in the owner's best interest to downplay any issues you might have.
You and me both. I love using them for large group trips when we can rent a mansion but the idea that a residential zoned structure built for mid to long term residents can be used as a de-facto commercial hotel is baffling to me. I cannot start a restaurant or bar in a subdivision, why would I be able to start a hotel.
This business need to be suffocated to death by local municipalities. Where I live, they just earmarked just over $1M to start tackling the problem. It's been illegal for a long time here but we have over 1500 illegal units operating in a town of 150k people.
FWIW, between my two sisters and my mother, they have 8 airbnb units. Love them dearly, want them to succeed, but nightly rentals are just contributing to the already fractured housing problem and it's only getting worse. We need to send a message that our homes we built for people to live in are indeed homes and not another financial instrument.
My brother and I were talking yesterday how govt probably won't solve the problem efficiently. We came up with the solution of a bounty program for ordinary people to collect the necessary info to turn in illegal op units and collect part of the fine assessed to the illegal operator. Self governing system.
I've had the exact opposite experience. I always book from well reviewed hosts and have never had a bad stay.
We always travel with our kids, so multiple attached bedrooms is important, and something you pretty much cannot find in hotels without spending obscene amounts. Most hotels won't even guarantee consecutive rooms, let alone attached.
Just dealt with this recently and up until then mostly had great experiences with hosts. When something goes wrong (ex: had a family emergency that blew up my travel plans a couple of weeks out), any refunds or resolutions are at the discretion of a host who is directly financially affected by the outcome. So there's never an incentive to be reasonable, and they'll often get hostile or combative - in this recent case pretty much immediately. I was able to easily alter/refund every single component of my trip, including a hotel stay, but couldn't do anything about the AirBnB because the host dug his heels in and started getting hostile.
> The #1 Real Estate Channel on YouTube with over 4 Million Monthly Views.
vs
> Chief Economist, SVP of Analytics @AirDNA, tracking performance and explaining trends in short-term rentals
Gerli is clearly incentivized by "shock value" content (he's a YouTuber) and Lane is incentivized by telling people the market is okay, however I'm inclined to believe Lane on this one. I've also used both AllTheRooms and AirDNA and AirDNA appears much more accurate (YMMV).
Second, lots of those Top 10 destinations are bachelor party destinations. Nashville, Austin, PHX/Scottsdale come to mind. These were once lucrative ABNB destinations ("8 bros in a shared house"), because large groups get better economics, easier communications/logistics, etc. So, it's no surprise with higher inventory of people chasing that demand that prices will eventually come down and settle.
> here's how platforms die: First, they are good to their users; then they abuse their users to make things better for their business customers; finally, they abuse those business customers to claw back all the value for themselves. Then, they die.
Why would enshittification not apply to airbnb? Of course it does. The honeymoon (fed printing money) is over, the party is over. 2022 was the first year ever airbnb had a positive net income, such things don't come easy.
There aren't many localities in which AirBnBs are a significant fraction of the real estate market. For example, San Francisco sees 40k tourists/day vs. a population of 800k. That's just 5%, and bear in mind SF is the cultural/tourism center of the SFBA with a population of 8000k. Prohibit short term rentals and convert all the hotels to housing while you're at it and you still won't move the needle much on housing prices.
There are many situations in economics in which the marginal effects are quite large especially WRT setting prices. I haven't read or done an analysis but I would never assume that 5% of a market has a 5% influence only in determining prices
SF City Economist Egan took a more careful look and estimated that SF's housing prices could be changed significantly by adding 100k housing units [https://www.sfexaminer.com/news/leveling-sf-housing-field-co...]. Maybe in some markets, like Venice Italy, you could make housing a lot cheaper by enacting a total ban on tourism. But I remain unconvinced that tourism in general or AirBnB in particular is a major factor in general. We can see from Egan's study that it isn't in San Francisco where tourism is our #2 industry, it's impossible to believe that across the country and around the world travelers are meaningfully preventing locals from finding a place to live. People just don't travel that much!
Also, this trick only works once. After we've eliminated global tourism to add fewer than 5% more houses globally, we cannot do it again next year and forever after to keep prices down while we continue to allocate increasingly more of society's wealth to the fixed supply of housing.
There Are many localities where AirBnbs and other STRs make a significant proportion of housing. The town 45 minutes from me is over 15% AirBnbs/STRs. My town is better, but still has too many STRs.
It is common, you just don't want to admit it. It's all over the western US and many, many towns have been impacted. Palm Springs and Joshua Tree aggressively responded for a reason. Because STRs, particularly in Jtree, were inflating home prices at an extraordinary rate and forcing long term residents out.
While it is frustrating to see entire houses used exclusively for short term rentals, I think them being converted to actual single family homes would only be a drop in the bucket in helping to balance the housing market.
Demand would still be absolutely insane if AirBnB did not exist.
From what I’ve seen of airbnbs where I grew up a contributing factor isn’t just quantity of the airbnbs but also the particular houses they choose.
A lot of them are what I think most people would call “starter houses”, relatively cheap pragmatic homes in decent areas. I would assume it has to do with people maybe upgrading houses and doing short term rentals on their first house and probably just that if you’re looking to invest in real estate they’re of course cheaper and a good fit for airbnb style short term rentals. I don’t know though I’d also assume it’s such a pain in the ass to manage that most people would rather sell and get money towards a new house.
Here is Canada it seems identity thieves are using AirBnB to steal homes. Probably not specific to AirBnB though.
>Police allege MacDougall used a fake name to rent a home on an online short-term rental app and obtained the homeowner's identity information while inside. According to police, MacDougall then allegedly used that information to impersonate the homeowner and secure a mortgage from a private lender, making away with the proceeds.
Sadly, this offence seems easiest to pull off in airbnbs that are genuine home-sharing where you are renting from an actual resident that is away for short periods of time (or just relocates with family during bookings), rather than pure “buy-to-airbnb” properties with better security and that kind of documentation wouldn’t be present.
The former group effectively improves local housing affordability by decreasing the latter or pushing developers towards residential construction instead of hotel construction.
Good. Airbnb messes up the rental market for locals. Like all "gig economy" services, it exploits legal loopholes to avoid proper classification and extract value from the commons.
I don’t know, tourists aren’t a loss for the local economy, they’re pretty much always a huge win. You may not want them but I don’t know that it’s appropriate to think of it as extracting value from the commons.
> Airbnb messes up the rental market for locals. Like all "gig economy" services, it exploits legal loopholes to avoid proper classification and extract value from the commons.
Interesting thing about this argument is, I feel like this assumes there are no benefits of short term rentals for locals. Specially, I see this closely in a small tourist town (not sure how it changes with a big city), but in a small tourist town there's limited supply of hotels and they are generally much more expensive. If you allow airbnb, some home owners prefer short term rentals and so affects supply for long term rentals but, that also means it benefits local home owners, also generate more taxes as most places now have higher taxes for short term rentals, which one can argue is used back to fund stuff in the local community. Also in a small town, many businesses depend on the tourists, so more tourists mean more benefit for local businesses and where locals are employed. So, keeping long term rental prices down for locals by suppressing short term rentals comes at an expense of locals, isn't it?
> benefits a subsection of locals .... to the detriment of the rest of them
That was my point, the "rest of them" is another subsection of the same local population. I am not sure I understand why some think benefiting one subsection is OK while not the other.
Anyway, this entire comment sub thread seems to head towards incorrect/inadequate incentives/regulation. Seems like fixing that is perhaps a better course than to throw out an entire industry that obviously many locals and visitors want and use.
Home owner and renter are both part of the society, lets say a% of home owners opt into short term rental and increase their income by b% and tax revenues go up by c%, that drives rents go up by d% and f% of renters are priced out, also the added tourist traffic support local economy by f%.
I do not see any analysis that even tries to obtain/study these numbers, measure the trade offs and evaluate the net impact on a society. I feel these are more emotional arguments than rational, seeming to stem from home owner must be richer, and so we got to help the renter. There's so much nuance, is it a small tourist town, mid tier city, big city, available housing supply, home owner and renter demographics - a small ski town might have lot of seasonal workers for half a year, renters might not even be locals in that case, obviously different in other places. Who are the home owners? locals, out of town investment home owners, corporations owning fleets of houses, how can there be one size fit all answer without evidence/data.
I feel like constraining access in this way would lead to some pretty nasty second-order effects if you didn't also redistribute a bunch of wealth from the 1% to the renters.
Also with all rental properties being government-owned there would be zero uniqueness and everyone would be forced to make due with whatever the government thought they needed. A good example of this is old Soviet-style tower blocks, where no matter how big your family you get the same size apartment.
At least with the current system, people who want to rent detached homes are able to. Your system would suffer from the alternating cycles of austerity that seem to plague governments and the tower blocks would gradually lose all amenities and everything would become exactly the same for the same price.
I'm not sure that's better than the current system. A better system would just prohibit private equity from buying real estate and renting it. I think a lot of the housing price increases are due to PE firms buying rental houses and then farming their management out to local management companies.
> Also with all rental properties being government-owned there would be zero uniqueness and everyone would be forced to make due with whatever the government thought they needed. A good example of this is old Soviet-style tower blocks, where no matter how big your family you get the same size apartment.
I can’t believe anyone would stay in an AirBnB after all the reports of hidden cameras. For me personally, it’s not worth the risk even if the risk is minimal.
Plus, all the cleaning fees and other things people have mentioned.
Also, it seems like some hosts are not a good fit to be in the AirBnB business. The hosts that are super paranoid about every guest or what is happening in their home - and are the type to use cameras or stop by unannounced, etc. It’s like an Uber driver who is ultra protective of their car. They shouldn’t be in the Uber business. There is a balance and some just aren’t suited to be an AirBnB hosts.
I've seen this chart being passed around, but I'd like to see the numbers comparing 2019 to 2023. I have a feeling the revenue would still be 25%+ higher today than just 4 years ago. They even mention how much more people are spending on vacations compared to 2019.
AirBnbs were great years ago, but the fees are often more than the rental price these days. We pretty much stick to hotels and Bed & Breakfasts these days.
Everyone knows about cleaning the dishes and the fees etc. But at least part of this is driven by bans. Municipalities that banned airbnb (or partial bans such as not allowing the entire dwelling for short term rental) were among those with the biggest drops in revenue, as you’d expect.
For 1+ week stays AirBNBs make more sense (family vacay, larger house with children), though it seems like the house owner lists the same house on VRBO and for whatever reason prices it slightly cheaper there, so I just book it at the cheaper place.