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Your Weekly News & Updates
NewsYouCanUse - our weekly cruise thru the issues and topics
for the business of Innkeeping.
Not all NewsYouCanUse is going to be upbeat - although the 'singing CPA' (in the Common Sense: 6 Tax Tips for Innkeepers) comes close!
Measuring Airbnb's Real Threat...
On the heels of a legislative loss for Virginia's B&B community* (and all legally licensed & insured lodging) comes another study documenting the impact of Airbnb. And, we certainly take note that the 2 top cities of Airbnb growth (exceeding 275%) are Richmond and Norfolk, Virginia.
The CBRE report provides market-by-market insights comparing Airbnb data to hotel data. It focused its research into Airbnb because of the company's impact in traditional hotel markets as well as its domination (emphasis ours) of a competitive set - as measured by Google Trends - that includes VRBO, HomeAway, and FlipKey. (some familiar names here...)
The ADR (average daily rate) for Airbnb rooms was $148.42, while hotels had an ADR of $119.11 and a traditional bed and breakfast was $103.25. Airbnb exerts a downward pressure on hotel room pricing during big events and other crowded periods...
After you've digested the bar-graphs, we suggest you read a second article (link at bottom of the article page): The Very Profitable Life of the Airbnb Superhost - and you'll note that the Skift report comments : "The only reason these hosts aren't heralded as great hosts by Airbnb - they are almost always the most highly reviewed by guests - is that they run counter to the "savior of the middle class" narrative Airbnb is now hoping will win it political battles."
And, to comment on the aforementioned political battle, Jack North (Mayhurst Inn, Orange VA) who attended and attempted (many constituents were denied or given 5 seconds) to testify at the hearings writes:
*February 16: The vote to send the revised Airbnb sponsored SB 416 and SB 571 to the whole Senate was a loss for all Virginians (8-6-1), especially for our 600 legal B&Bs, and for the safety and security of the tens of thousands of guests to the Commonwealth that will stay in these totally unregulated "homes" if this bill gets signed into law. The bill passed the full Senate (20-19) BY ONE VOTE. The only way to stop it is if the Governor vetos it.
Quite simply Airbnb is offering to collect and pay taxes from the thousands of their "hosts" (about 4000 in Virginia) in turn for not having to tell who they are, where they are, not requiring compliance with building, fire, safety, health, and ABC codes laws and regulations, not allowing an audit of, or and visibility into, the details associate with their listings, and not even guaranteeing that all Airbnb properties are paying the proper taxes. Essentially Airbnb is saying "trust us" rather than the local governments.
Attention: experienced and aspiring innkeepers, we are seeking proposals for a new innkeeper opportunity in Wine Country along California's Central Coast. We are designing and building an 11-room boutique hotel and wine-bar in Old Town Orcutt, and are interested in meeting innkeeper partner couples to live in brand new accommodations and manage the B & B and wine bar. The projected opening date is March 2017, but we'd like to meet prospective innkeepers soon for input on the interior design. Have you any suggestions as to how we might find such an innkeeper couple? Please contact me via email or cell phone at 805-798-0010 or email.JEFFREY WEINSTEIN
(you will need to login to your PAII account but you may need to reset your password as the new site did not transfer your old passwords)
Wednesday, February 24, 2016, 2:00 PM EST
Hacking - Is Your Site a Sitting Duck? Lisa Kolb will show you how to tell if your site is secure or if hackers have an open door to infiltrate your site and use it for advertising unsavory items or even to take your site down. Security has become more important than ever before - make sure you are taking steps to keep your site safe. -Presented by Acorn Internet
Wednesday, March 2, 2016, EST Association Webinars (Open to All)
Association Webinar: The Future of Member Involvement in the Electronic Age
Wednesday, March 16, 2016, 2:00 PM EST Online Marketing Playbook Overview: Jumping into the world of online marketing for your property can seem overwhelming. This playbook helps you make sense of all the options, helps you understand where to focus your attention first and gets you on the way to success with online marketing for your property. Learning Objectives: At the end of this webinar you'll know: How to use digital assets like your website and online review sites to increase occupancy. Which (if any) OTAs are right for your property to partner with. How to stay on top of all the digital marketing channels while staying focused on your guests. Presented by innRoad