But Airbnb has recovered more quickly than traditional hotels as travelers seek whole homes in rural areas far from crowds. The number of nights and experiences booked, which plummeted 72 per cent April, were down about 20 per cent in July, August and September.
In Miami, for instance, short-term rental occupancy reached 83 per cent in October, while average occupancy for hotels was 42 per cent, according to STR, a hospitality data firm. In Nashville, rental occupancy was 59 per cent while hotel occupancy was 44 per cent.
Airbnb said it also expects more business people will book vacation rentals, since many can now work from home.
"We believe that the lines between travel and living are blurring, and the global pandemic has accelerated the ability to live anywhere," Airbnb said in a recent financial filing.
- AP