Kyle M. Morgan, left, and Brent V. Trapana, right, of Brinkley Morgan. Courtesy photos

Introduction

The travel industry was one of the hardest hit industries adversely impacted by the COVID-19 pandemic. Despite the struggles the industry has faced as a whole, U.S. home rental company Airbnb plans to make its public market debut this year. The company filed its initial public offering (IPO) paperwork this month, revealing that despite an otherwise poor year as a result of the pandemic, it turned a profit of $219 million in the third quarter of 2020. By comparison, Airbnb made $227 million in profit during the same quarter in 2019.

This recent reporting by Airbnb shows the strength of the short-term rental housing market. Though the COVID-19 pandemic has disrupted the entire travel and hospitality sector, Airbnb included, Airbnb's recent reporting reveals that the company can still be profitable—even during a pandemic. While Airbnb's overall net loss for 2020 has greatly increased from 2019, its earnings during the third quarter of 2020 delivers some evidence that the service it provides is still in demand despite global lockdowns put in place throughout the year. This recent reporting, along with Airbnb's decision to go public reveals that the company believes it is poised for exceptional growth in the future.

As the vacation rental sector grows so do the number of vacation hosts that attempt to capitalize on this hot industry. In Florida, that especially holds true and Florida vacation hosts could see even more growth within the next two to three months despite the lingering COVID-19 pandemic. As winter approaches, people from around the country will likely attempt to escape the cold weather and densely populated cities for warmer weather and holiday home rentals. As such, the demand for Florida house listings will likely surge as vacationers will steer clear of larger hotels in an effort to feel safer and practice social distancing.