Area Airbnb proprietors hosted about 62,000 guests and earned a combined $6 million in supplemental income in 2017.
“Chattanooga is the fourth-most popular home-sharing market in Tennessee, behind only Nashville, as well as (narrowly) Memphis and Sevierville,” according to an Airbnb news release. “Nearly all of the cities in the Chattanooga region achieved over 100 percent year-over-year growth in guest arrivals.”
Officials also said that statewide data indicates that Airbnb is complementing, not competing, with the Tennessee hotel industry.
“This suggests that Airbnb is opening up the region to a new slice of prospective tourists by catering to travelers less able to afford hotels, those who desire to stay in neighborhoods or cities that lack hotels and families who prefer to be together under one roof,” according to the news release.
In 2017, Chattanooga took steps to officially recognize and legalize short-term rentals within much of the city.
The City Council created a district where short-term rentals are allowed.
Airbnb leaders said they are also aiming to secure a tax agreement with Hamilton County and other local governments within the region. These tax agreements allow Airbnb to collect and remit local taxes on behalf of its hosts, typically resulting in new revenue for the respective local government.