Bus search engine company Wanderu recently conducted a study across North America and Europe to see how the pandemic has affected lodging prices.
Surprisingly, it’s not the same everywhere: In the U.S., it is far cheaper to stay in a hotel than an Airbnb. It’s the complete opposite of what is happening in Europe, where Airbnbs are the best value.
No surprise that the cost of vacation rentals have shot up astronomically since everything that has happened?
In cities like San Francisco, Las Vegas and Miami, Airbnbs have shot up drastically, commanding 59-64% more than they used to in the before times.
The only outlier here is New York City. where hotel rates have fallen 23%, though they still remain more expensive than an Airbnb in the city.
Here’s a quick chart of the findings (the furthermost right column reflecting the price fluctuations):
The Wanderu study looked at the average price for a two-person hotel room versus the average rate for an entire home or private room on Airbnb this past summer.
Though, the ages of a private room on Airbnb are kind of done, aren’t they?
Luckily, it doesn’t matter too much since Airbnbs across the board seem to be more universally expensive.
The company also looked at historical prices of hotels and Airbnb over the past three years, in select European cities, factoring it into their analysis.
In London, hotels have always been a tad more expensive than Airbnbs.
Interestingly, we looked at similar data a while back during Airbnb’s rise, and found that there wasn’t much price difference between the lodging types.
Check out this link for more comprehensive data, including additional information for cities across Europe.