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One Airbnb for every two hotel rooms in London, research finds

01 May 2019 by
One Airbnb for every two hotel rooms in London, research finds

There is one Airbnb room in London for every two hotel bedrooms in the capital, analysis by The Caterer has revealed, as mayor Sadiq Khan looks to better regulate the site's users.

The number of Airbnb

While not all rooms listed in Airbnb are rented out all the time, the site estimated that, from July 2017 to July 2018, 2.2m guests stayed at 75,700 listed rooms in the capital, generating £1.3b in revenue.

Eleven Airbnb users held more than 100 listings under their names, with 1% of users managing 17% of the market. Short-term letting management firm Veeve, which operates luxury apartments for short-term stays, has had more than 1,000 properties on the site, providing more accommodation than the 1,054-bedroom Hilton London Metropole.

The largest number of listings - 8,749 - were offered in Westminster. More than 7,600 have been made available in Tower Hamlets, while Hackney, Kensington & Chelsea and Camden each housed more than 5,500 listings.

The extent of Airbnb's presence in London has been revealed following Khan's call on the government to introduce a new registration scheme for those seeking to rent out a property for fewer than 90 days. Khan wants to better enforce the cap on the length of time for short-term lets, which was introduced in 2015.

While acknowledging a future for the accommodation platform in London, the mayor said the benefits for hosts "must be balanced with the need to protect long-term rented housing, and to make sure neighbours aren't impacted by a high turnover of visitors."

He added: "It is now time for the government to work with us to develop a registration system of short-term lets so local councils can make sure we get this balance right."

Airbnb supported the move and called for competitors to be held to the same standard. In a statement, a spokesperson said: "Our platform is built on the principle of making communities stronger. We are proud of the responsible role hosts and guests on Airbnb have played in London and are pleased to continue leading our industry on working with policymakers to ensure rules are applied equally to everyone."

'Airbnb has to be regulated,' argues hoteliers association calling for exclusion zones>>
MPs consider compulsory registration for all UK visitor accommodation>>

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