Steamboat Springs ranks high on list of Airbnb’s hottest Colorado markets
January 18, 2018
STEAMBOAT SPRINGS — Airbnb hosts in Steamboat Springs brought 31,000 guests to the city last year and made $4.5 million in income from renting out their bedrooms and homes, according to a report from the company that markets short-term lodging rentals.
Steamboat's Airbnb market had the sixth-highest guest count in Colorado and ranked above other resort towns including Vail, which brought in 21,000 guests.
Steamboat was second in the resort market only to Breckenridge, which reportedly brought in 89,000 guests while making $16.5 million in host income.
The Airbnb market in Steamboat also is having a significant impact on the city's tax coffers.
Finance Director Kim Weber said Airbnb ranked 14th last year on the list of businesses and organizations that are generating the most tax revenue for the city.
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And based on the host income reported by Airbnb, the city of Steamboat would have earned about $180,000 in sales tax revenue and $45,000 in lodging tax revenue.
In addition, the city would have collected about $22,500 from the half-cent sales tax for education.
While Weber noted the estimates represent a significant positive tax impact, she did also note the revenue was less than what she would have expected based on the sales tax numbers she has seen.
Statewide, Airbnb reported that it saw 1.2 million guests use their service last year, a 68 percent growth rate over the year before.
Steamboat Springs City Councilman Scott Ford crunched some numbers and estimated that the average daily rate Airbnb guests in Steamboat are paying is reasonable when compared to the city’s competitive markets.
He also said he thinks Airbnb is becoming more mainstream and increasing the city’s stock of short-term housing.
“Airbnb is just an additional marketing portal,” Ford said.