The Edinburgh Fringe Festival is one of the largest arts festivals in the world, attracting over 3 million visitors every year. This influx of tourists puts a strain on the city’s housing market, and Airbnb prices soar during the festival.
A study by the University of Edinburgh found that Airbnb prices in the city center more than double during the Fringe. A two-bedroom apartment that rents for £100 per night in the off-season can cost upwards of £250 per night during the festival.
This sharp increase in prices can make it difficult for locals to find affordable housing, and it can also push out businesses that cannot afford to pay the high rents. The city council has taken steps to regulate Airbnb, but the impact of these measures has been limited.
There are a number of factors that contribute to the high Airbnb prices during the Fringe. First, the festival attracts a large number of visitors who are willing to pay a premium for accommodation. Second, the city’s hotels are often fully booked during the festival, which creates a shortage of available rooms. Third, many Airbnb hosts take advantage of the high demand and raise their prices accordingly.
The impact of the Fringe on Airbnb prices is a complex issue with no easy solutions. However, it is important to be aware of the issue and to take steps to protect the city’s housing market.
Here are some tips for Airbnb owners who are considering renting their property during the Fringe:
- Be transparent about your pricing. Let potential guests know that your prices will be higher during the Fringe.
- Offer discounts for long-term bookings. This can help to attract guests who are staying in Edinburgh for the entire festival.
- Be flexible with your cancellation policy. This will make it easier for guests to change their plans if necessary.
- Provide good customer service. This will help to ensure that your guests have a positive experience and that they will return to Edinburgh in the future.
By following these tips, you can help to make the Fringe a more affordable and enjoyable experience for everyone.
In addition to the tips above, Airbnb owners can also consider the following:
- Target your listings to Fringe performers and other professionals who are looking for short-term accommodation.
- Offer discounts for groups of guests.
- Promote your listings on social media and other online platforms.
- Make sure your listings are up-to-date and accurate.
By taking these steps, you can increase your chances of success as an Airbnb owner during the Fringe Festival.
If you are an Airbnb owner in Edinburgh, I encourage you to consider using our Airbnb cleaning services. The benefits can be significant, and they can help you to improve your business.
