The Impact of the Pandemic on the P2P Market for Tourist Accommodation

Beatriz Benítez-Aurioles ()

A chapter in Tourism and ICTs: Advances in Data Science, Artificial Intelligence and Sustainability, 2024, pp 205-214 from Springer

Abstract: Abstract This paper examines the impact of the COVID-19 pandemic, which was declared in March 2020, on the peer-to-peer (P2P) market for tourist accommodation, focusing on supply, demand, and prices. By analyzing monthly data between February 2019 to February 2021 from 15 cities across Europe, North America and Australia, the study provides insights into the changes experienced in the P2P market during the pandemic. The ensuing findings indicate a significant decline in both supply and demand. The number of reviews, serving as a proxy for demand, shows a clear downward trend that reflects the reduced travel activity during the pandemic. In parallel, the number of listings decreases, highlighting the adaptability of supply to demand shocks. The pandemic also led to a notable decrease in prices, as observed in the analysis of price data and backed by previous studies. Professional hosts demonstrate their capacity to adapt by adjusting prices and minimum stays to attract a stable demand. This finding aligns with previous research that displays the strategic responses of professional hosts to market conditions. Furthermore, the results contribute to the existing literature by providing empirical evidence of the simultaneous decline in supply and demand, leading to lower prices and income for hosts. The strategic responses of professional hosts make evident their adaptability in the P2P market.

Keywords: Airbnb; COVID-19; Tourist demand; Entry and exit barriers; Housing rentals (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-52607-7_19

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DOI: 10.1007/978-3-031-52607-7_19

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