Bloomberg recently released the latest edition of its index which ranks locations around the world – taking into consideration some 120 cities – according to rates charged by Airbnb.
Among its main findings were that although Miami and Boston took the top two places for the second year running regarding Airbnb pricing, Middle East destinations are now some of the most expensive in the world, with locations such as Tel Aviv, Dubai, Jerusalem, Riyadh and Kuwait City among the top 15.
According to the Bloomberg article, Airbnb ADR figures for Tel Aviv ($87) and Jerusalem ($82) are far lower than Bloomberg’s figures at $188 and $173 per night respectively. The article points out that Airbnb uses a different methodology to that of Bloomberg, as it includes the rates of units actually booked rather than advertised rates on the Airbnb site.
The article cites industry analysts who suggest that Airbnb pricing in cities such as Dubai and Tel Aviv may be largely due to high hotel rates and the high cost of housing, with short-term rentals being pushed higher by owners wanting a premium over what they could earn renting out their properties for a year.
Get the full story at Hotel Online and Bloomberg