Airbnb saw steady growth in Miami-Dade during 2017, despite being targeted with hefty fines by municipalities throughout the county.
Overall host revenue in Miami-Dade was $134.6 million during 2017, compared to $113 Million in 2016 – a 19% increase.
Broward ranked second in Florida for Airbnb revenue, with $45.7 million in host income.
Florida Airbnb Hosts Earned $450 Million, Welcomed 2.7 Million Guests in 2017
Airbnb Florida, the Sunshine State’s leading community-driven hospitality company, announced today that its Florida vacation rental hosts earned a combined $450 million in supplemental income while welcoming approximately 2.7 million guests to the state in 2017.
The 2.7 million guests to Florida represent 75% year-over-year growth. This comes as state residents increasingly embrace the vacation rental platform as an opportunity to earn income and expand their community’s lodging capacity. There are now nearly 40,000 Floridians who share their homes or vacation rentals through Airbnb, with each host typically earning about $6,700 annually.
“Vacation rentals provide a tremendous impact for the local tourism industry and Florida’s overall economy,” said Sen. Greg Steube (R-Sarasota). “We must protect private property rights so that Florida homeowners can continue to participate in the sharing economy and provide additional options for travelers to our state.”
Statewide data indicates that the vacation rental community is complementing — rather than competing with — the Florida hotel industry. Florida hotels experienced strong growth in occupancy rates, prices and revenue during 2017 — in parallel with vacation rental growth for the year. This suggests that vacation rentals on Airbnb and other platforms are opening up the state to a new demographic of tourists by catering to travelers who are less able to afford hotels, those who desire to stay in neighborhoods or cities that lack hotels, and families who prefer to vacation together under one roof.
“We are proud to contribute to Florida’s record-setting tourism by opening up the state to new segments of visitors,” said Jennifer Frankenstein-Harris, President of the Florida Vacation Rental Management Association (FVRMA). “We are committed to partnering with the Governor and lawmakers to further infuse Florida’s economy with additional revenue and elevate Florida’s status as a global hub for family-friendly tourism.
In addition to the new personal income going into the pockets of Florida hosts, the vacation rental community is also generating new public revenues that benefit the state and dozens of local communities through tax agreements that allow Airbnb to collect and remit taxes on behalf of its hosts. Airbnb is currently authorized to collect and pay the state sales tax on all bookings in Florida, in addition to collecting and paying local bed taxes in 39 counties. In 2017 alone, Airbnb secured new tax agreements with six counties: Miami-Dade, Broward, Sarasota, Polk, Hillsborough and Leon. The company will release a 2017 county-by-county tax report once the December taxes are remitted.
Additionally, Airbnb Florida wishes to again thank the hundreds of Florida hosts who stepped up to offer their properties for free to Irma evacuees following the activation of Airbnb’s Disaster Response Program.
What follows is an overview of 2017 guest arrivals and total host income, broken down by the top 20 counties in Florida (in terms of guest arrivals). If your coverage area is not on this list please respond to Ben Breit with a data request and he’ll be happy to provide ASAP.