Airbnb releases Kentucky University economic impact report

KENTUCKY. (WTVQ)- Airbnb release data on Monday that reflects the economic impact of home sharing during major college commencement ceremonies in Kentucky.

Local Airbnb hosts have expanded lodging capacity throughout the commonwealth for graduations weekend as well as offering affordable rates for visiting families.

The rise of home sharing has alleviated the degree of price gouging at hotels.

UK’s commencement had the biggest influx of guests to Lexington in the history of Airbnb’s platform.

Kentucky capitalized from new home sharing tax revenue for this year’s commencement.

Airbnb announced a tax agreement with the Kentucky Department of Revenue in June 2017 to collect state sales taxes on behalf of its Kentucky hosts and remit the revenue directly to the state government.

It was also recently announced by Airbnb that there would be agreements with Lexington and Louisville to collect and remit their respective room taxes.

The data can be found in full below. Please note that due to the large market size of Louisville, data for the University of Louisville is reflective only of the University neighborhood as well as Old Louisville.

University of Kentucky (Lexington)

  • Commencement Dates: May 4-6
  • Total Airbnb Guests During Commencement: 1,410
  • Percentage Spike from Previous Week in Guest Arrivals: 20%
  • Total Airbnb Host Income During Commencement: $143,000
  • Supplemental Income for Typical Host During Commencement: $415

University of Louisville (data reflective solely of the University neighborhood and Old Louisville)

  • Commencement Dates: May 12
  • Total Airbnb Guests During Commencement: 90
  • Percentage Spike from Previous Week in Guest Arrivals: None (weekend before was Kentucky Derby)
  • Total Airbnb Host Income During Commencement: $8,000
  • Supplemental Income for Typical Host During Commencement: $160

Western Kentucky University (Bowling Green)

  • Commencement Dates: May 4-5
  • Total Airbnb Guests During Commencement: 150
  • Percentage Spike from Previous Week in Guest Arrivals: 10%
  • Total Airbnb Host Income During Commencement: $12,000
  • Supplemental Income for Typical Host During Commencement: $253

Murray State University

  • Commencement Dates: May 12
  • Total Airbnb Guests During Commencement: 60
  • Percentage Spike from Previous Week in Guest Arrivals: 33%
  • Total Airbnb Host Income During Commencement: $5,000
  • Supplemental Income for Typical Host During Commencement: $171

All data and information provided by Airbnb release.

Categories: News, State News

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