Airbnb survival struggle

Airbnb борется за выживание
20 July 2020 Liza Medvetskaya

Pandemic and lockdown hit the short-term rental market. 

According to the research platform AirDNA, in recent months there has been a reduction in new bookings of more than 80% and a barrage of cancellations in bookings that had been made, by 90%. 

However, the day before yesterday, the platform announced that for the first time in almost 5 months, 1 million bookings were made in one day.

At the Cypriot level, an effort is being made to tidy up the accommodation. According to the plans of the Ministry of Tourism, the registration process for self-catering accommodation is expected to begin in the first months of 2021 and the entire registration process will be done exclusively through a special online platform.

Airbnb борется за выживание

Lately, however, the owners offering generous discounts in an effort to attract bookings. This is a policy followed by a large portion of owners and is recommended by the platforms in order to be able to increase the number of their bookings. However, as it turns out, the owners of Airbnb-type properties, seeing this season lose, turned to other solutions to limit the damage. 

A search through the ads posted on AirBnb for the period from July 31 to August 8 shows that one can find very low prices. Apartments in Paralimni and Kapparis are offered with prices ranging from € 26- € 42 per night.

For example, with the price of one accommodation at € 32, for 8 nights, the cost reaches € 256 for two people. € 30 is also added for cleaning and € 48 for services, bringing the bill to € 334.

In Ayia Napa you can find more expensive options in tourist villas with over € 200 the daily rental cost. In Larnaca province the options are cheaper and range from € 23 to € 131 per night. In Paphos there is great availability of accommodation with an average price of € 50. 

Most accommodations are located by the sea. Less availability is available in Latchi and Polis. 

Finally, it is noted that the accommodation rental service company received strong financial pressure from the weak demand for its services, as thousands of tourists canceled their plans for their holidays, business trips, and visits to their families. due to the pandemic, resulting in the suspension of promotional activities for its services for the current year, but also the reduction of about 25% of its employees.

Source: philenews

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