Airbnb Popularity in London Explodes
Since Airbnb, a San-Francisco-based company, launched in London in 2008, more than 4 million guests have used the company’s platform to book a stay in the popular U.K destination. While the growth in popularity of Airbnb’s service in London took six years to reach 1 million room rentals, its popularity exploded and took only 2 years to reach 4 million.
While property owners would like to earn income from their property investments, many don’t have the time or inclination to do so – leaving a demand for short-let management services.
According to Bloomberg, Airbnb became profitable in 2016 for the first time. In that same year several interesting facts emerged. The most popular origins for guest bookings in London were from Paris, New York, Singapore, Sydney, and finally Melbourne. The areas in London that were growing in popularity with Airbnb guests were Lambeth, followed by Croydon, Millbank, Camberwell, and Hounslow.
The demand for short-let grows in London, with guests booking from as far away as Chile, Philippines, and even Winnpeg (Canada). But as the popularity of Airbnb grows, so does government interest in regulation.
Ian Wright, the UK parliament’s Influential Business, Innovation, and Skills select committee chair, wrote to London’s mayor Sadiq Khan in September, 2016 to ask whether Airbnb hosts should have greater restrictions.
Airbnb’s Northern Europe GM James McLure said in a press release:
“We’ve taken important steps to ensure Airbnb’s growth in London is sustainable and good news for everyone. We will continue to be good partners to everyone in the city and work together to help more guests discover the hidden gems in this great city.”
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