skyrocket in Beirut
Occupancy rate for apartments
averaging around 55 percent
The number of Beirut properties listed on Airbnb has grown fourfold in the last three years, with listings jumping from 300 to nearly 1,200 offerings this year, according to the November issue of Lebanon Opportunities.
Renting apartments and rooms through the online platform has become an attractive business for investors. “Airbnb started with individuals listing their apartments, but it is becoming a business model, where professional management companies are leading the market,” said Elie Karaa, managing Partner at Local Host, which manages 50 apartments through Airbnb.
Occupancy rate for apartments on Airbnb is increasing, averaging around 55 percent in Beirut, according to AirDNA, a website offering statistical data on Airbnbs around the world.
Apartments in Beirut listed on Airbnb rent for an average of $70 per night, according to AirDNA.
Date Posted: Nov 05, 2018