Rhode Island Airbnb Hosts Bring In Millions In 2019

NEWPORT, RI — During just a few weeks in the height of the 2019 summer tourist season, Airbnb hosts in Rhode Island brought in $13 million from more than 39,000 renters, according to newly released data.

All that rental revenue comes from just five three-day weekends from July 19 to August 11, the peak of beach season in Rhode Island. Each weekend, hosts brought in an average of $2.6 million from 7,700 to 8,000 guests.

"2019 was another great year for Airbnb in Rhode Island, with more local residents embracing the economic opportunities offered by home sharing and small businesses and entire communities benefiting as a result," said Josh Meltzer, Head of Northeast Public Policy for Airbnb, said in a statement.

"As we dive into this new year, we are especially proud of the important role that our hosts have played in creating additional accommodations supply during the state’s top travel weekends while leveraging this demand to earn supplemental income. We hope that these insights will help Rhode Island families who are looking to open up their home as a short-term rental in identifying some of the best times of the year to do so."

Newport County far and away brought in the most income, netting more than $13 million in 2019. While it made almost twice as much as the runner-up, Providence County, Newport saw 200 less total guests than Providence. Here's how much money Rhode Island hosts brought in last year, by county.

Airbnb rentals are a boon to local economies, the company said, as well as individual hosts. According to a survey conducted by the company, 92 percent of hosts said they recommend local restaurants and cafes to guests, while 56 percent said they encourage their guests to visit nearby museums, festivals and historical sites. More than half of the hosts surveyed said renting through Airbnb helped them afford their homes. On average, 41 percent of guest spending happens in the same neighborhood where they stay.

Not all Rhode Island communities have been completely open to the home rental service, however. As of November 2019, the Providence amended its policies to regulate Airbnb and other short-term rentals in the city.

"The goal is to create a simple policy that both protects residential neighborhoods and allows homeowners to take advantage of a new possible source of income," the city's website reads.

Related: Opinion: State Still Struggling To Regulate Third-Party Rentals