Airbnb revealed travel trends for the coming months, globally, as well as hot destinations for travelers in Puerto Rico. #NewsismyBusiness
Since 2015, the exponential growth of STRs has significantly altered the transient lodging market in Puerto Rico. #NewsismyBusiness
In 2023, the industry improved across all major indicators for the third year, Discover Puerto Rico stated. #NewsismyBusiness
Puerto Rico’s visitors’ economy generated $1.6 billion last year. #NewsismyBusiness
About 17,000 short-term rental units currently represent 32,000 rooms on the island. #NewsismyBusiness
Being a host represents an economic lifeline for many as the average private room host has earned extra income. #NewsismyBusiness
In Puerto Rico, approximately 780 guests were blocked or redirected when attempting to book on Airbnb during New Year's Eve. #NewsismyBusiness
Puerto Rico already has all the required laws and regulations to address these compliance gaps, and only needs to formally recognize that STRs are a commercial activity. #NewsismyBusiness
Since Airbnb implemented anti-party measures, there has been a global 55% drop in party reports on the platform in two years, it stated. #NewsismyBusiness
The regulation establishes an STR registry and licensing process run by the city’s Permits Office. #NewsismyBusiness
In the study, Foundation for Puerto Rico covered the factors impacting housing and rent prices on the island, examining several causes. #NewsismyBusiness
In Puerto Rico, during the first quarter of 2023, more than 80% of private room reviews on the island received a 5-star rating. #NewsismyBusiness
The new app is the latest development for the short-term rental platform. #NewsismyBusiness
STRs have fostered gentrification and residential displacement in the communities, one person who testified at the hearing said.
Forty-one percent of the island’s hosts have earned the coveted platform status.
A Dow Jones/Factiva content provider since 2014
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