Many Airbnb hosts, hoping to capitalize on the influx of tourists during the upcoming World Cup, are facing an unexpected setback. Despite their high expectations for profit, they are finding their properties remain largely unbooked due to the steep costs that have deterred potential visitors.
As the FIFA World Cup draws near, soccer enthusiasts from across the globe are preparing to flock to the host nations of Mexico, Canada, and the United States. However, the financial burden of attending the event is proving to be more than some are willing to bear. The combination of expensive game tickets, travel expenses, and high accommodation rates is placing a heavy strain on fans’ budgets.
Amidst this backdrop, numerous Airbnb hosts who anticipated a windfall from the tournament are reporting zero bookings for the period when the World Cup will be held in their respective cities. Their aspirations for significant earnings are being dashed as potential guests balk at the high rental prices.
Take Mae Stewart, for instance, an Airbnb host based in Atlanta, Georgia. She invested a substantial $60,000 into remodeling her property specifically to attract World Cup visitors. Despite setting her rental price at approximately $4,500 for a week in mid-July, Stewart has yet to secure a single booking for that peak period, as she shared with The Wall Street Journal.
Mae Stewart, a host in Atlanta, Georgia, told The Wall Street Journal she spent $60,000 remodeling her Airbnb to attract World Cup attendees.
She is charging roughly $4,500 for a weeklong stay in mid-July, but revealed she hasn’t received a single booking for that time frame.
‘I don’t think it’s going to be the huge windfall that I once thought it was,’ Stewart said.
On social media, fellow Airbnb owners have said they are not getting nearly as many bookings as they expected.
Mae Stewart, a host in Atlanta, Georgia, is charging roughly $4,500 for a weeklong stay near Mercedes Benz Stadium for the World Cup, but said she has not received any bookings
Soccer fans have been forced to cough up thousands of dollars for game tickets, transportation and accommodation for the World Cup
‘My Airbnb is just outside Seattle, and all indications here are that the World Cup will be a flop,’ one host wrote on Reddit.
‘I’ve been watching hotel rates go down and FIFA constantly announcing new rounds of tickets for sale. My bookings are very very slow.’
Another host wrote, ‘I am seeing no change to normal summer bookings in New Jersey, and zero guests mentioning the World Cup at all.’
A Deloitte report forecasted high demand for Airbnb listings, in part due to surging hotel prices associated with large events such as the World Cup.
Airbnb launched a campaign to entice property owners to list short-term rentals by advertising that net hosts could make more than $200 million based on the Deloitte analytics.
In Houston, Texas, host Kat Longoria told the WSJ that she has been able to book her property for about a third of the month and does not plan to slash her fees.
‘There’s not a whole lot out there,’ said Longoria. ‘So I don’t have any intentions of lowering my prices.’
Jamie Lane, chief economist at short-term rental data analytics company AirDNA, told the newspaper that although many people wait until the last minute to book, some hosts are being overly optimistic about how much they can charge.
On Airbnb host in Houston refused to lower her prices despite not being fully booked because she believes their is not enough accommodation around NRG Stadium
‘There’s also the dreamers, who think they can get $2,000, $5,000 a night,’ Lane said.
Juan David Borrero, Airbnb’s global head of partnerships, said the company expects more bookings as it gets closer to the World Cup.
‘I think we’re going to see more demand as the tournament starts to unfold,’ he said, ‘just because that is the nature of the tournament.’
The Daily Mail contacted Airbnb for comment.
