Airbnb was founded in 2008 and offers millions of users around the world the ability to rent their home to people who are looking for accommodations. The app is available on iOS and Android and currently has over 2 million listings in 34,000 cities and 191 countries.
Airbnb takes a percentage of the rental fee and today, Airbnb Canada has released its annual Ontario data report. In it, Airbnb states there are now 15,000 Airbnb hosts in the province and on average each earns approximately $3,900 per year. Toronto is home to the vast majority of hosts with 8,600, with over 7,600 bookings were made during the first half of 2016.
The average length of stay for an Airbnb guest is 5.4 nights compared to 4.5 nights for the typical overnight guest to Ontario.
Other interesting details of the report revealed the average length of stay for an Airbnb guest is 5.4 nights compared to 4.5 nights for the typical overnight guest to Ontario. In addition, 88 percent of hosts in Ontario have one entire home listing and many share their homes for a few nights each month to help earn extra money.
Airbnb Canada Public Policy Manager Alex Dagg, said, “Everyday Ontarians are embracing Airbnb. This report reinforces the fact that Airbnb is an economic opportunity for families and individuals who share their homes, allowing them to earn a little bit of extra money to pay the bills. For guests, it offers an affordable way to see the province and visit loved ones.”