Airbnb has released the results of a new economic study in one of its major international markets. After a similar study conducted in San Francisco last year, Airbnb this time is profiling the effect that its peer-to-peer marketplace for housing accommodations has had on hosts and nearby businesses in Paris.
The study was put together through a combination of proprietary host and guest data, as well as survey results that it collected from users. It also takes into account economic impact data from French economic consulting firm Asterès.
As the company’s second-largest market, the study in Paris shows similar guest activity to San Francisco. In both cases, guests tended to stay in and spend money in neighborhoods that aren’t in the central hotel districts. Also, Airbnb guests tended to stay longer and spend more than hotel visitors.
Airbnb found that 93 percent of its users said they wanted to “live like a local” while visiting Paris, and 70 percent stayed in Airbnbs that were outside the main hotel districts of Paris. A significant number of Airbnb guests surveyed were visiting Paris for the first time — 34 percent. And nearly three-quarters of them said Airbnb made it more likely that they would return.
Just as in San Francisco, Airbnb’s visitors to Paris tend to stay longer and spend more over the course of their trip than hotel guests. Guests who stayed with Airbnb averaged more than five days per visit, compared to about 2.3 days spent by hotel guests.
While they save money on accommodations, however, those visitors end up spending significantly more during the day. The end result, according to the economic study, is that visitors spend about €865 per visit, compared to €439 for hotel guests. Visitors generally spent more at local businesses that aren’t in the typical tourist locations within the city. The Airbnb study estimates that 38 percent of guest dollars were spent in the neighborhood they were staying in.
In addition to data about guest behavior, Airbnb also released information about the economic impact the marketplace provides to hosts. It has more than 10,500 hosts in the city currently, with more than 80 percent renting out space in their primary residence. The average host there rents out his or her place for 3.8 nights and makes €297 per month, according to Airbnb.
While the company has seen tremendous growth in Paris over the last two years, the incumbent hotel industry has continued to go strong, with a nearly 80 percent occupancy and an average nightly rate of €164. That compares to the average €125 that Airbnb guests pay.