According to statistics, Airbnb accounted for 19% of the entire US lodging market in 2018, and the number has risen exponentially. In this article, find out whether or not Airbnb is still a profitable venture in Florida in 2020. For your information, Florida is among the three cities in the US with the best Airbnb occupancy rates, together with Hawaii and California.
Well, just like any other business, Airbnb has two sides. Some entrepreneurs are making a kill, but for others, things are not so smooth. Because Florida receives visitors all year round, Airbnb should be a profitable business as long as you get everything right.
Most Expensive Airbnb City
One of the reasons Airbnb is still a profitable investment is the fact that Florida is the most expensive Airbnb city in the world. Data from Lonely Planet and Travel Nine shows that the average charge is $205 per night. But again, many investors have shifted their attention to Florida, creating a huge competition. In 2019, Kissimmee in Florida had the largest number of listings in the US, according to Statista. That means investors should make sure they get it right when it comes to setting up their property.
Be the Amazing Host
With the stiff competition, it’s essential to spruce up your property to stay on top of the game and, most importantly, to secure long-term visitors. So, how do you become a fantastic Airbnb host? With Florida leading in the number of listings, you should make your listing stand out and allow for instant booking. Also, make sure the check-in and check-out processes are smooth and, if possible, leverage smart home technologies such as smart locks.
Websites and design stores such as Royal Design can also come in handy in providing design and home furnishings, such as lighting, decor, kitchen accessories, textiles, and rugs, serving and tableware, which can enhance visitors’ experience and add a touch of class to your property.
The idea is to make your visitors’ experience memorable. Despite the stiff competition, Airbnb is still a profitable business in Florida. The important thing is to offer your visitors value for money and ensure that their stay is comfortable. That way, you will be guaranteed good reviews, positive feedback, and even referrals.