The Memphis tourism economy is looking pretty good these days.
According to Airbnb, Shelby County Airbnb hosts netted a cool $10.9 million in supplemental income while welcoming approximately 106,000 guests in 2018.
A growing trend, the Memphis home-sharing market is experiencing a spike in growth, especially in the area of special events such as Music Fest and BBQ Fest.
Airbnb also states that data indicates the Airbnb host community appears to be complementing the hotel industry, rather than competing with it.
The most recent Mid-South hotel report from Marcus & Millichap demonstrates that Tennessee hotels are continuing to experience strong growth even as local hosts welcomed tens of thousands of guests.
“After you experience it, very few sit on the fence. They’re either one way or they’re the other and some people prefer that hotel, some people just prefer an Airbnb,” said Airbnb operator Jon Hodge.