Recently, it was revealed that AirBnB revenues in Asheville had dropped by 43% in comparison to 2022. This was detailed in a Youtube video, where a man showed the AirBnB revenues across the USA on an interactive map.

Although Asheville didn’t get much of a mention, he did show the city around the 12.10 mark which can be seen in the video below. In other words, it looks as though nationally, the AirBnB bubble is finally bursting – and Asheville locals can’t get enough of it.

Apparently, the main reason for AirBnB’s current demise was rising prices which did not reflect the reality of the market. One Asheville resident summed it up perfectly by saying, “Turns out when you charge a ton of money for a poor service, people will go to the businesses which provide good service for a fair price. AirBnB: $400/night, $300 cleaning fee, $100 administrative fee, $50 fee processing fee, plus you need to clean the whole place as “chores” before checkout. Hotels: $150 per night, checkout is at 11:00. Please don’t wreck the place.” – Although this is an anecdotal example, it still serves a very realistic point.

Unsurprisingly, most locals loved this news as it meant that house prices in the city may drop – with an influx of AirBnB pads potentially hitting the market. However, not everyone saw it this way – with one person adding, “Before folks start gloating (which I completely understand), this is probably a sign that Asheville’s place as a top tourist destination is waning. It’d be wise to start thinking about how the city can evolve into something new without tourism as the supposed linchpin.”

With this said, the failure of AirBnB in Asheville may be a good thing for local house prices. However, it may also be a sign that tourism in the area is struggling, which is equally as concerning.