5:52Can the Airbnb Business Withstand a Recession? | My First Million Podcast
From My First Million · Published Jul 5, 2020 · Watch on YouTube
TL;DR
Airbnb faces a severe revenue drop (50–80%+ overnight) due to coronavirus, threatening hosts who rented out properties or subleased them specifically for short-term stays. Many hosts may default on mortgages or convert to long-term rentals, and data from Zillow already shows a surge in long-term rental listings.
Key insights
- Airbnb’s revenue likely dropped 50–80%+ overnight with an indefinite timeline.
- A large portion of Airbnb’s supply comes from entrepreneurs who bought or subleased properties solely to host on Airbnb; their income has gone to zero, raising risks of mortgage/rent defaults or conve
- Zillow charts show a sudden explosion in long-term rental listings (e.g., from one blue dot last month to fifteen this month), which gives ammunition to anti-Airbnb advocates arguing that Airbnb contr
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