Big Slowdown in Booking Inquiries

[David323]

Hey all hosts in the Russian River area,

Wondering if it's just me, or has everybody been experiencing a drop off in bookings lately, especially for December? I've been renting my cabin on AirBnB for almost 9 years, and I've never seen anything like this. Nothing lined up for December! It's got to be cost-of-living issues, inflation, no more cheap money, etc.

And nothing is really different about my place- why change anything if it's working for you,, right?- so this is really puzzling. The one thing I have been altering, is the nightly rates. But that's really a response to the cost of everything. Perhaps I've just answered my own question?

Thanks to all!

David B.

[Basha0]

@David323 I also have a home in the Russian River area. My bookings with ABB have been down for months. I lost Superhost status due to not enough bookings. I am not lowering my prices to attract guests. Instead I have added VRBO and have been booked until recently. It might also have to do with the area being more attractive to spring, summer and fall visitors. 

[David323]

Hi @Basha0 , Sorry to hear you lost superhost status. I didn't even think about that! And thanks for the VRBO tip! I'll give it a try.

[Zheng49]

It's probably a pricing issue. If you do a search for your property what page is your property on? 

It's also because the economy is pretty bad, so people are looking for cheaper options. 

[Helen3]

I don't agree it's most likely due to oversaturated markets @Zheng49 

[Zheng49]

I don't disagree that markets are oversaturated. But pricing is even more important when markets are oversaturated. 

[David323]

Thanks @Zheng49 . I've reduced my prices, and received a booking almost immediately. Not sure if that did the trick or not. And over saturation does seem to be an issue.

[Helen3]

It's probably a combination of oversaturated markets coupled with falling demand - have a look on Airdna.

and look at a marketing plan to promote your listing on other channels and by taking direct bookings @David323 

[David323]

Thanks @Helen3 . I think a falling demand is real too. My bookings have been diminishing for the entire year, and I get great reviews. People are most likely holding back on travel right now.

[Mary5479]

the entire bay area and especially the oakland, east palo alto and a few other areas with high crime rates may have some bubbles to burst. 

I had a friend who has a listing in east palo alto. His monthly mortgage is like $5500 a month, and he was only able to get $2000 something in Airbnb rent in 2021 for the 1st month. the daily rate is like $159 and still no booking. 

The vacancy rate is too high, and every listing in san francisco for sale is reducing price or they can’t sell.