"No bookings for February"

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Ryan MoyerBusiness Member
Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 994 posts · 1k+ votes
3y

Let's not just blame it all on the newbies.  There were plenty of people with a microphone (even well seasoned experts here on this forum) that got caught up in the excitement of 2021 and were telling newbies that it was the new norm.

ETA: And a lot of realtors these past few years were just as bad as the lenders in 2008.

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  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @John Carbone:
    Quote from @Carlos Ptriawan:
    Quote from @Carolyn Fuller:

    Today my Airbnb stock shot up 13% in value because Airbnb bookings worldwide were much higher than expected in the last quarter of 2022.

    The issue with hosts not getting expected bookings must have to do with an over saturated supply. 


     that money, rather than being used to purchase airbnb house, is btter used to buy Airbnb stock (or hilton hotel stock). 

    I can't believe people has this believe that someone would rent their house for 600 bucks per night continously lol


     $600 may be undercutting how ridiculous some people have taken it. I’ve read and heard stories from BP people that are underwriting over 1500-2000 a night at 80 percent occupancy on $3 mil dollar properties. 


     the problem why there oversaturation market is that investment activity is not regulated.

    You see, in my city, there're four motel6, if the operator of motel6 thinks like an Airbnb investor, they would develop 600 motels, but they would not do that, because they know they would kill themselves if they do that..... 

    now every Airbnb owner especially those super hosts in BP thinks their house is better than Hilton LOL , and lets assume 1000 other people is thinking the same.

    The problem is created by the investor themselves that they can't think behind all business there are always dynamics of supply and demand.  when you create so much liquidity (supply) basically everyone just kills the market.

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  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y

    Seriously, on-demand business like Uber,Netflix,Airbnb is most of the time, only good for their shareholder/employee only. You put all your money to make Airbnb shareholders happy. You would never become a Hilton or Hilton replacement as you have too much competition. Airbnb doesn't invest in you at all. Same as driving for Uber, after the market matures, nobody makes money, the Uber driver tired as they don't have too many calls,etc. The difference between Uber and Airbnb is that at least there's a qualification who would be the Uber driver so the supply is mildly controlled by Uber, in Airbnb case they don't care, they just open the floodgates of homes to make Airbnb richer. People that need to stay in Airbnb are not constant, it heavily depends on the seasonality, their vacation, and job status. STR is not the same like LTR where there are always constant needs for housing.

    I have predicted from a long time ago that this on-demand business would just create mishaps for some people.

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