Revenue for private short-term accommodation in Alberta has ballooned in the past four years, according to Statistics Canada.
In a report released on Thursday, the federal agency pegged revenue in the province for private short-term accommodation at an estimated $151.9 million in 2018, up from $97 million in 2017.
In 2016, it was $30.9 million and in 2015 it was $8.8 million.
“In 2018, private short-term accommodation in Canada generated an estimated $2.8 billion in revenue. This included both the revenue earned by hosts (those listing dwellings for rent) as well as revenues earned by digital intermediary platforms (companies that operate the digital platforms upon which dwellings are listed and rented). Of the total revenue, $2.6 billion or 93 per cent went to hosts, while $196.6 million went to intermediary platforms in the form of host and guest fees,” said StatsCan.
“From 2015 to 2018, the total estimated revenue generated by private short-term accommodation increased nearly tenfold (+940.8 per cent). Despite the significant increase over the time period, growth in this market has slowed year after year.”
The federal agency said the largest private short-term accommodation markets were in Ontario, British Columbia and Quebec, accounting for nearly 90 per cent in total revenues in 2018.
– Mario Toneguzzi for Calgary’s Business