Airbnb, the world’s leading community driven hospitality company, announced that its Chattanooga host community earned a combined $2.5 million in supplemental income and welcomed approximately 24,600 people to the city in 2016, while Lookout Mountain and Signal Mountain also emerged as strong home sharing markets.
Those 24,600 guest arrivals to Chattanooga via Airbnb represent a 213 percent year-over-year growth.
Airbnb’s Chattanooga host community tripled in size in 2016 to 300 people. The overwhelming majority share their primary residences, while 32 percent are simply renting an extra, unused room in their homes. Often these are empty nesters left with extra rooms that have now emerged as economic opportunities thanks to home sharing. The typical Chattanooga host earns $5,300 in annual supplemental income through Airbnb despite renting sparingly - less than one day a week on average.
Chattanooga is now the #3 home sharing market in Tennessee, behind only Nashville and Memphis.
In 2016, Lookout Mountain emerged as the #9 home sharing market in the state while Signal Mountain came in at #18.
What follows is an overview of 2016 guest arrivals and total host income, broken down by Chattanooga-area cities.
|
City
|
Total 2016 Guest Arrivals
|
Total 2016 Host Income
|
|
Chattanooga
|
24,600
|
$2.5 Million
|
|
Lookout Mountain
|
2,700
|
$250,000
|
|
Signal Mountain
|
1,100
|
$121,000
|
About Airbnb
Founded in 2008, Airbnb’s mission is to create a world where people can belong when they travel by being connected to local cultures and having unique travel experiences. Its community marketplace provides access to millions of unique accommodations from apartments and villas to castles and treehouses in more than 34,000 cities and 191 countries.