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Dubai / Emirates Business
Revenues for properties listed on the online marketplace and hospitality platform, Airbnb, in Dubai during August 2015 and August 2017 increased by 421 percent to top $3.3million in August 2017, with listings nearly tripling to 3,249.
The relaxation of rules, effectively making it possible for home owners and tenants to cut out the middleman and list their property directly on the site, has resulted in a marked increase in the number of listed Airbnb units available, rising 161% from 1,241 units in August 2015 to 3,249 units in August 2017.
Chestertons research revealed, the Airbnb concept is complementing hotel offering within the emirate by providing an alternative travel experience, with average occupancy levels topping 57% during Dubai’s peak season.