Airbnb and hotel prices drop after the MWC in Barcelona ends

February 19, 2020
Share this Post: 

A study by Transparent, which analyzes and forecasts variations in prices of apartments for rent on Airbnb and the other similar platforms, revealed figures of market behavior after five days after the cancellation of the Mobile World Congress. The numbers had shot up to €356 at the opening night, while its usual price is €140 per day.

However, that figure had fallen 32% to €242. It is likely that it will continue to fall in the coming days as prices are updated for an event that no longer exists.

Airbnb has published a special cancellation policy for all visitors from China. For the rest, the usual policies apply. The disappearance of Mobile World Congress (MWC) does not imply that the apartments lose all their reservations. Apart from the event, there will be others who will somehow take advantage of those days and recover some of the lost revenue.

The hotel sector was also affected with a 90% cancellation of its reservations. Nearly 30,000 room reservations and companies would only have half of their billing secured.

2,800 companies and 100,000 attendees registered in the MWC amount to €500 million.

The MWC represents 4% of the annual turnover of the tourist apartments of the city, and that will stop entering €14 million.

Certainly the MWC has a positive economic impact on the income of the city and its holiday rental market, its cancellation is noticeable in all sectors.

Despite the recent cancellations, Barcelona will host around 30 congresses in 2020 and is working on a hundred nominations for new events in the coming years, as announced by the city's President of Tourism, Eduard Torres.

February 19, 2020

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

British Portals Declining Debate
UK Portals' Debate No-Show Angers Industry Commentator

There was frustration in the British estate agency industry yesterday as the so-called 'big three' portals declined to attend a...

Read More
Suburban Us Housing
Zillow and Redfin Forced to Respond to Viral Video

Real estate giants Zillow and Redfin have both responded to a viral social media video in which a realtor speculates...

Read More
Short Term Rentlas Airbnb Oyo Jll
Short Term Rentals Roundup: Airbnb Appointment, OYO IPO and a New Rival

There have been a few important pieces of news coming from the world of short-term and vacation rentals this week....

Read More
Zillow Housing Data
Zillow in Legal Battle for Cheap Local Housing Data

American real estate giant Zillow is backing proposed legislation in Michigan which would significantly reduce the cost of procuring property...

Read More

Popular News