Airbnb, the world’s leading community-driven hospitality company, recently announced that its Tennessee host community earned a combined $43.3 million in supplemental income while welcoming approximately 217,000 guest arrivals to the State for the five biggest guest arrival weekends in 2019, including the holidays, Labor Day, Memorial Day and summer travel weekends.
“Last year was a big year for Airbnb in Tennessee - with more travelers than ever before taking advantage of the unique and affordable options that Airbnb offers, while Tennessee residents embraced the large economic opportunity that hosting presents,” said Laura Spanjian, Airbnb Senior Policy Director. “As we jump into a new year, we’re proud of the role our hosts play in expanding lodging capacity during heavy travel weekends while delivering important tax revenue to the state. We hope these insights inspire other families to consider becoming Airbnb hosts.”
During the five biggest weekends of 2019, Airbnb hosts in Tennessee earned $43.3 million.
The home sharing community provides significant value through expanded lodging capacity for Tennessee communities when hotels sell out during big events. These include sports games, major conventions and concerts, and during summer tourism.
SInce March 2018, Airbnb has collected and remitted state and local sales taxes due to an agreement with the Tennessee Department of Revenue. In the first year of the agreement, Airbnb double expectations by remitting a combined $22.4 million in tax revenue to Tennessee. In addition to the agreement to collect state and local sales taxes, Airbnb has agreements with Memphis, Knoxville and Hamilton County to collect and remit their local occupancy taxes on behalf of hosts.
Along with helping hosts earn important supplemental income, Airbnb also helps generate revenue for local economies around the world. According to an Airbnb survey of more than 35,000 responses from our host and guest community in the United States**:
92 percent of Airbnb hosts say they recommend restaurants and cafes to guests.
56 percent of Airbnb hosts say they recommend cultural activities such as museums, festivals, and historical sites to guests.
55 percent of Airbnb hosts say hosting has helped them afford their homes.
On average, Airbnb guests say 41 percent of their spending occurs in the neighborhood where they stay.
Unlike other business models that siphon the money they generate out of communities, Airbnb activity directly benefits the communities our hosts call home. Since Airbnb was founded, hosts keep 97 percent and have earned over $65 billion sharing their homes that many use to pay the bills and pursue their passions.
In addition, in 2019, Airbnb reached a landmark cumulative $2 billion in tourist-related taxes that have been collected and remitted to local governments on behalf of our global host community over the past four years.
