For decades, John Kistler of Minneapolis has been instrumental in the restoration and preservation of historic properties and multi-family buildings. Attuned to the real estate and home sharing industries, he explains how companies like Airbnb have a positive impact beyond what’s apparent on the surface.
John Kistler of Minneapolis has overseen restoration projects in his home state where he’s transformed old, decrepit properties back into architectural marvels. In this way, he preserves much of the local Minnesota history and saves many properties from demolition.
With the rise of home sharing companies like Airbnb, he’s noticed how tourism in less-visited areas has increased and how overcrowding during peak seasons in many major cities has gone way down. International home sharing is ultimately changing the way people travel, and it’s redirecting funds to other establishments in communities around the world.
“Tourism is a massive international industry and contributes over a tenth of the entire world’s gross domestic product,” says John Kistler of Minneapolis. “It has its downsides, such as overcrowding and high costs, but home sharing is helping to even things out a bit.”
Tourism across the globe has grown in recent years, and many believe that home sharing is one of the biggest contributors to this trend. Companies like Airbnb have ultimately revolutionized lodging everywhere by changing where people can travel to and what kind of budget they can afford. Today, home sharing companies boast millions and millions of listed properties in tens of thousands of cities.
According to a recent Healthy Travel and Healthy Destinations report, home sharing has not only freed up accommodation options, but it has also helped fight overcrowding and changed the economics of tourism to benefit locals. Instead of seasons of intense overcrowding and lulls, people are traveling throughout the year and finding available lodging spread out across major cities.
“In addition, home sharing is helping to keep hotel rates in check,” says John Kistler of Minneapolis. “During the busiest tourism periods, when hotel rooms often sell out and boost their cost, home sharing is keeping rooms open and prices down.”
This may seem like bad news for hotels, but home sharing has only impacted their revenue by up to a percent or two in major cities. But this is extremely good news for travelers who can enjoy peak seasons in big cities–such as on NYE in Manhattan–without having to pay an arm and a leg just to have a roof over their head. They can now look into a range of affordable options across any given city, with the luxury of being able to invest in open rooms at higher-rated hotels if they choose.
“Instead of taking over the tourism industry, home sharing is helping to alleviate the stress of overcrowded urban centers and allowing people to travel to locations they may not have been able to afford before,” says John Kistler of Minneapolis.