Donald Trump’s Surprise Victory Blows Up Washington’s Airbnb Market

A lot of people who had made Airbnb bookings for inauguration week in Washington changed their minds. Many of Hillary Clinton’s supporters had prepared for a joyous inauguration week in January, even snapping up Washington area hotel rooms and Airbnb lodgings before the election. And many Washington residents ― 94 percent of whom voted for the Democratic nominee ― were ready to open their homes to fellow Clinton supporters. But those plans were among the many things upended on Nov. 8 with Donald Trump’s surprise win. A slew of Democrats have canceled their early reservations, despite stiff cancellation fees. A few Airbnb hosts are even reconsidering their hospitality ― although the lure of inauguration week profit still seems stronger. Karl Scarlett, owner of Great Dwellings, which manages Airbnb rentals for homeowners, said he had 90 cancellations for the roughly 100 properties he manages in D.C. in the 48 hours after the election. A number of the cancellation emails came with explanations, Scarlett said. “Every single one of them had expected a different outcome.” A rental customer told Guesty that the 50 percent cancellation fee was the least of her worries now that Trump will be president, according to Nathan Tobin, director of sales at the company. Guesty provides services to property managers with Airbnb rentals. “It shows how strongly the guest felt about not wanting to attend the inauguration and the price she was willing to bear to do so,” Tobin said. Cancellation fees are often based on the rental rate. And Ian McHenry, CEO of Beyond Pricing, which helps rental owners set prices, said that Airbnb rental rates for Washington have been up to three times the norm for a typical week in January. Airbnb spokesperson Crystal Davis said rates in the greater D.C. metropolitan area are averaging $125 per night for inauguration week. But some of the Airbnb rental management companies in D.C. said they’re seeing rates in the $600 to $800 range. Lara Hawketts, owner of Home Sweet City, said seven of its 50 properties were booked prior to Election Day, and all of those arrangements were canceled after Trump won. The company sets a 50 percent cancellation fee (unless the renters reschedule their stay). Given how high the nightly rates are for that week, Hawketts said the fees have totaled as much as $2,000. Based on her correspondence with them, Hawketts thought many of the cancellations came from Clinton supporters. “Those people were willing to book and put down thousands of dollars and risk 50 percent of that because they were so sure she was going to win,” the business owner said. Home Sweet City has since been booking new reservations, mostly from Trump supporters, Hawketts said. They’ve also had an increasing number of inquiries and reservations from those planning to come to town for the Women’s March on Washington, a protest against Trump’s inauguration. Scarlett of Great Dwellings said they, too, have booked a number of new reservations since Election Day among Trump supporters and […]

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