No, Seriously, How Much?

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Private rooms and houses/apartments listed on Airbnb’s Dublin lettings on August 19, 2018; Airbnb logo

Yesterday.

In the Sunday Business Post.

Ian Guider reported:

An Irish-registered unit of Airbnb made a profit of €80 million last year, the first time the financial arrangements of the accommodation bookings giant in Europe have been revealed.

The profit generated by Airbnb International Unlimited Company compared with a loss of nearly €72 million in the previous year.

The recently-filed accounts show for the first time the profitability of Airbnb in Ireland, and are a result of a change in Irish company law that now requires businesses with unlimited liability status to file details of their finances.

The company, which has a registered address at a Dublin law firm, is responsible for Airbnb’s operations outside the United States and China.

The filings show the company paid $42 million in tax out of its profits during the year, but does not disclose the countries in which the tax was paid.

Meanwhile…

In the same newspaper yesterday, Aaron Rogan reported:

Dubliners who live in luxury are being asked to nominate their homes for a “super-exclusive” new Airbnb-style platform.

Will McGlade, the 28-year-old son of Paul McGlade, the founder of Champion Sports and the beauty clinic chain Therapie Group, has launched HipHipStay, which he said aims to manage the top 1 per cent of short-term lettings in the capital.

To be considered, the properties must be located in lively areas of the city centre, and their decor must have a certain “cool kind of swagger”, McGlade said.

Irish arm of Airbnb made €80m in 2019 (Ian Guider, Business Post)

Owners of high-end Dublin homes sought for ‘super-exclusive’ website (Aaron Rogan, Business Post)

Previously: Red Alert

Pic: Rob Cross

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14 thoughts on “No, Seriously, How Much?

  1. holy moly

    Apart of the problem is the centralization of services in one region for the betterment of a “cozy cartel”. Airbnb is just a symptom of corruption. Airbnb didnt close the bed sits or decide where the only national airport would be located and then build a toll bridge to it.

    1. garrett

      Apart of the problem is the centralization of services in one region for the betterment of a “cozy cartel”.

      Tin foil hat time

    2. Rob_G

      Of all of the charges associated with either purchasing and running a car, or taking a trip on a plane for work or for leisure, the M50 toll is probably the best value-for-money €2 you will spend…

      (also, there are several airports outside of Dublin…)

    1. Dr.Fart

      i did. since kitty left i’ve had her room lay idle for some time. yes i suppose the fact we had seperate rooms should’ve been an indication to where the marriage was going. anyway, i’ve given the room to a gorgeous young homeless lady. well, technically homeless. she moved here from poland and was looking for accom while studying, so she didnt have a home, but she does now, and who knows maybe romance will blossom and old Farty might not have to die alone just yet!

      1. Liam Deliverance

        Best of luck Doctor! – remember secret surveillance cameras are bad, flowers and a home cooked meal are good.

  2. Rob_G

    I thought that recent legislation had banned whole-apartment rental on AirBnB. So any of the lettings currently would be for spare rooms(?)

    (someone who would be happy to rent out rooms the odd weekend would not necessarily want lodgers living with them full time, so it doesn’t necessarily represent a net-loss to the stock of available housing).

    1. Dr.Fart

      the government also put a rent cap of 4% in certain areas but rents have risen by more than that. they aren’t the best policy makers, they leave loopholes all over place. I’d imagine the same has happened here.

      1. Rob_G

        Rent caps cover existing tenancies; new builds (which would command higher rents) would serve to push up the average above 4%.

        But you are right; the government sure have been proactive in introducing loads of great initiatives to combat the rental crisis…

        1. Dr.Fart

          wow. if you genuinely think the government are doing great work in combating rental crises, then nothing you say holds any weight. it’s not even down to opinion if theyre doing well or not, the dogs on the street know theyre not. they know theyre not. everyone knows it.

  3. Termagant

    God I wish I had the confidence of that McGlade lad, that wherewithal to throw it to the wind and say “I don’t care if every thinks I’m a ridiculous wangler, I’m going to do it anyway”. That’s where true power lies, being completely oblivious.

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