What happens when San Francisco, the home of short-term rental company Airbnb, becomes the home of Super Bowl 50? Technically the Super Bowl is in Santa Clara, but not surprisingly, demand for Airbnb accommodations is soaring across the whole Bay Area. The company has released figures showing that searches for lodging in the region during the Super Bowl have reached two and a half times their normal level, and that searches this year are three times higher than they were for last year's Super Bowl.
Even before their teams' won this past weekend, the biggest spike in bookings came from people in Phoenix, Denver, and Charlotte. So far, according to Airbnb, rooms booked in San Jose and Santa Clara have gone for an average of about $220 per night. However, as the date gets closer, the price is getting higher. The current median for San Jose is $360 per night, and there are plenty of places looking for thousands a night.
Yesterday we brought you news of a study that shows Airbnb makes nearly a third of its revenue from short-term rentals that operate as such nearly year-round. However it looks as if many of these Super Bowl rentals are more along the short-term side, with people who live near the stadium looking to cash in on their homes' proximity to the big game—and no matter who takes home the trophy, these owners could be the winners.
· Demand Spiking for Airbnb Super Bowl Accommodations [Airbnb Blog]
· Study Shows Airbnb Rakes in Millions from Illegal Rentals [Curbed SF]