World
Aerial view of Barcelona Eixample residential district and famous Basilica Sagrada Familia at sunrise. Catalonia, Spain
Barcelona. (Getty Images)

Airbnb implores Barcelona to reconsider ban on short-term rentals

Residents of Barcelona are saying no más to mass tourism, with most Airbnbs in the city likely run by multi-property professionals.

After reporting a mixed quarter earlier this month, Airbnb is taking a more public approach in addressing policymakers: the holiday-rental platform is now directly urging the mayor of Barcelona to reconsider his proposed crackdown on short-term rentals, or STRs, similar to legislation seen in hot spots like New York City.

In an open letter published yesterday, Airbnb argued that the measures introduced since the Spanish city’s first ban on tourist-accommodation licenses in 2014 have failed to fix its housing issues.

“The only winner from Barcelona’s war on short term rentals is the hotel industry,” said Airbnb’s VP of public policy, “which is rapidly expanding and increasing prices.”

Back in June, Mayor Jaume Collboni pledged to eradicate all short-term rentals in Barcelona by 2028, in response to the city’s soaring cost of buying and renting (the average price of a home in the city is up more than 60% in the past decade, data cited in Airbnb’s report says).

But the letter also outlined that while the number of STRs in Barcelona has halved since 2020, hotel-room prices are soaring, and empty homes still outweigh STRs in the city 8-to-1.

Close to home

Some 26 million people visited Barcelona in 2023 (that’s up 30% since before the pandemic), with similarly staggering tourist figures being observed across Europe in recent years. Perhaps what Barcelonans are specifically taking issue with, though, is that startlingly few STRs in the city are actually compensating the locals.

Airbnb in Barcelona
Sherwood News

An analysis by Anna Gordun Peiro, using data from Inside Airbnb, suggested that the overwhelming majority of listings in Barcelona (74%) are likely run by professionals — defined as those running three or more Airbnbs in total — rather than individuals, the most of any of the 15 cities analyzed.

More recent data from Inside Airbnb also detailed that 43% of all listings in the city are run by hosts with 10 or more Airbnb properties.

Barcelona residents’ frustration with tourism amped up considerably this summer, with nearly 3,000 locals — some armed with water guns — taking to the streets to protest in July.

More World

See all World
world

Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

world

John Wayne Airport in Orange County tops the list of North America’s favorite airports

Despite a record year of passenger numbers, flight cancellations, and delays, a new survey has revealed that flyers have been increasingly satisfied about their experiences in North American airports. 

According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

Here are the regions favorites:

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.