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TODAY in Ibiza and Formentera
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Airbnb in Ibiza: The 17% millionaire business

the 17% millionaire business

Marta Torres Molina

Tuesday, April 30 2024, 5.25am

Airbnb charges a “service fee” averaging 17.08% on bookings, generating significant revenue from luxury rentals on Ibiza. For instance, renting the exclusive Tagomago villa, which goes for €35,000 per night with a minimum five-night stay, results in a service fee of €29,894. Despite its high price, this villa shows no bookings for the season. Meanwhile, Villa Caroline, with varying rates peaking at €18,750 per night in May, has several bookings, illustrating a lucrative return for Airbnb through its service fees. The platform lists around 4,000 properties on Ibiza, including 24 exceeding €10,000 per night, generating minimum nightly fees of €1,708. The platform’s earnings from these properties can reach over €60,000 per night. Additionally, Airbnb collects taxes on legally licensed tourist accommodations, which can add around 10% to the rental cost, handled differently from service fees. For the full article, please visit Diario de Ibiza website here.