{"id":1004198370,"date":"2017-11-28T04:25:31","date_gmt":"2017-11-28T12:25:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198370"},"modified":"2020-02-27T01:53:15","modified_gmt":"2020-02-27T09:53:15","slug":"airbnb-still-strong-in-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/airbnb-still-strong-in-texas\/","title":{"rendered":"Airbnb Going Strong in Texas"},"content":{"rendered":"

By Razvan Cimpean<\/em><\/p>\n

\"Airbnb<\/a>Data provided by AirDNA<\/a> shows a significant increase in Airbnb adoption throughout Texas over the past three years. Not only have Austin, Houston and Dallas experienced an uptick in available listings, but the three metros have also seen the average occupancy level go up by at least 11.5 percent.<\/p>\n

Austin\u2019s booming economy and population growth translates into the highest number of total available Airbnb listings (entire places, private rooms and shared rooms) of the three metros, 9,455 as of October. Meanwhile, Houston\u2019s room-sharing market seems unaffected by Hurricane Harvey, with a 91.3 percent increase year-over-year in October. Houston saw a significant increase of more than 15 percent in September from the previous month. According to a Yardi Matrix report released in September, Houston has about 616,000 multifamily units, a quarter of which is located in areas identified as flood zones. As up to 11 percent multifamily communities have been rendered uninhabitable, Houstonians had to look for a place to stay in September, which could explain the occupancy level\u2019s growth. Additionally, Airbnb hosts can, in times of natural disasters or conflict, provide free-of-cost shelter to those in need, contributing to the increase in occupancy.<\/p>\n

CBRE, in its extensive report highlighting Hurricane Harvey\u2019s consequences<\/a> on the Texas real estate market, predicted that the hotel industry would experience an increased demand because of Harvey. This could have also been the case with the room-sharing platform. \u201cHotels throughout the region should see a rise in the number of people seeking accommodation, given the extensive home damage. [They] could generate an additional 3.4 million room nights of demand and roughly $430 million in additional revenue.<\/em>\u201d<\/p>\n