As Vancouver gets ready to host games in the FIFA World Cup next year, Airbnb is making a case for the province to lift short-term rental restrictions at that time.
“Hotel prices have spiked in Vancouver,” Alex Howell, Airbnb Canada policy lead, told Global News.
“It’s only going to get worse when you have a big event like FIFA in Vancouver next year.”
New data from CoStar shows that hotel room prices in Vancouver reached record highs this past summer, with the city’s average daily rate climbing to nearly $330 in July.
That is a 189-per-cent surge over five years.
Provincially, rates hit a record high of $230 a night, according to CoStar, which is nearly doubling the national average.
“This is all pointing to some pretty critical challenges ahead when FIFA comes to town next year,” Howell said.
According to Airbnb, the implementation of new short-term rental restrictions across B.C. are to blame.
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The company is calling on officials to reduce the licensing fee, loosen the rules around what exactly can be rented and streamline the registration process.
However, it will be up to the provincial government to make any sweeping changes.
“Our government’s work on tackling speculation and on short-term rentals have made a difference in seeing rents go down in communities across B.C. and that matters,” B.C.’s Housing Minister Christine Boyle said in a statement.
“It matters for local businesses, it matters for local residents, and for communities and families and so, these policies are making a difference and that’s why it is important that we stick with them.”
The B.C. Hotel Association did not respond to Global News’ request for comment, but without action, Airbnb warns that the city will face a 70,000 accommodation shortfall by the time the FIFA World Cup gets underway.
“It’s fantastic when you have all of these people coming into town, but right now, the system is just not set up to accommodate them,” Howell added.
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https://globalnews.ca/news/11523722/bc-hotel-rates-price-hike-airbnb-fifa/
