The impact of COVID-19 on the travel and hotel industries has been catastrophic. The hotel industry has lost more than $46 billion in room revenue since mid-February, while Airbnb suffered such significant losses, that it laid off 25% of its workforce in May 2020. There is one bright spot though, rural Airbnb locations have proven to be a sought after relief from the cabin fever many are experiencing due to COVID. The company reported that hosts in rural destinations over $200 million in June 2020 alone. That's a 25% increase from the previous year.
Why the reason for the trend? First, it seems as if some families are choosing to isolate from densely populated areas to wait out the virus. Second, Airbnb locations can be accessed and used with limited outside contact, something that isn't promised with hotel staff and employees. In one survey, doctors and experts agreed that: "private vacation homes are likely safer than hotels because they come with fewer person-to-person interactions." It seems to be the best of both worlds: people get the benefit of escaping the monotony of quarantine without the risk of unwanted exposure.
To Learn More Read: Rural Airbnb bookings are surging as vacationers look to escape the coronavirus.