Airbnb today released data indicating the meaningful economic impact of home sharing during major college commencement ceremonies throughout Kentucky.
For graduation weekends throughout the state, local Airbnb host communities throughout the state expanded lodging capacity and offered affordable rates for Wildcat, Cardinal and Hilltopper families and loved ones. With hotels often selling out due to the influx of college parents, commencement ceremonies have long been known as sources of an unfortunate degree of price gouging, which the rise of home sharing has helped alleviate.
“Home sharing provides significant economic value by expanding lodging capacity during commencement weekends for Kentucky communities that are home to large universities,” said Laura Spanjian, Airbnb Kentucky policy director. “Most of us can relate to having to book hotels 1-2 years in advance of college graduations. We’re very encouraged to see how our platform has been utilized to provide affordable lodging accommodations for college families during stretches when hotels traditionally reach peak occupancy.”
The data can be found in full below.
University of Kentucky (Lexington)
- Commencement Dates: May 5-7
- Total Airbnb Guests During Commencement: 721
- Percentage Spike from Previous Week in Guest Arrivals: 111%
- Total Airbnb Host Income During Commencement: $131,000
- Active Airbnb Hosts: 330
University of Louisville
- Commencement Dates: May 13
- Total Airbnb Guests During Commencement: 1,564
- Percentage Spike from Previous Week in Guest Arrivals: none, previous weekend was Kentucky Derby
- Total Airbnb Host Income During Commencement: $215,000
- Active Airbnb Hosts: 1,500
Western Kentucky University (Bowling Green)
- Commencement Dates: May 12-13
- Total Airbnb Guests During Commencement: 58
- Percentage Spike from Previous Week in Guest Arrivals: 21%
- Total Airbnb Host Income During Commencement: $7,000
- Active Airbnb Hosts: 25