The Rapid Growth of the Accommodation Market Transformer
The digital platform Airbnb was founded in 2007 when two of its creators hosted three guests in their San Francisco apartment. Since then, like a majestic avalanche, the platform has experienced tremendous success. It has expanded significantly and currently boasts over 4 million hosts, with more than 1300 located in Puerto Vallarta who have shared their accommodations with over 1 million people in this tourist destination.
Despite enduring the worst tourism crisis caused by COVID-19, the Puerto Vallarta market has undergone reconstruction. One of the most successful digital accommodation platforms during this time has been Airbnb. The platform connects travelers with individuals seeking to rent out their space, noting that this economic impact in Mexico is equivalent to the construction of 1,500 kilometers of roadways.
Presently, there are 630 vacation properties with workspaces and exclusivity. Additionally, there are 1200 rental properties with pool amenities that offer pool maintenance services.
In just the past year, in 2023, Airbnb experienced a 38% growth in demand for short stays. It currently offers 1300 spaces for short-term vacation rentals, with an average ticket price of $106. It's important to note that property owners only earn 3% of the revenue collected by Airbnb. This positions Puerto Vallarta as the tourist destination with the highest growth in Airbnb usage, and incredibly, it hasn’t negatively impacted the larger hotel tourism industry, which closed the year with remarkable figures.
For entrepreneurs investing in this platform, it's essential to know that Airbnb provides traveler identity verification, reservation analysis, $3 million in damage protection, refunds for damaged artwork or valuable objects, refunds for damages to cars, boats, and other vessels, compensation for damages caused by pets, service cancellation compensation, cleaning service refunds, and $1 million in liability insurance. Additionally, there's 24-hour security available. It's recommended to be competitive in the market to grow rapidly and leverage the platform’s support, meaning it's advisable to offer promotions to attract travelers' attention.
Airbnb will continue to expand, and Puerto Vallarta continues to offer beachside spaces to accommodate triple the population, as was witnessed in December 2023.
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