Denver’s short-term rental market handed a minor milestone final week because the trade continues its restoration from the COVID-19 downturn.
The town’s Division of Excise and Licenses issued sufficient licenses final Friday to push it over the two,000 energetic license mark, hitting 2,008. It marked the primary time the variety of energetic licenses was that top since November, in response to Eric Escudero, spokesman for the division.
That’s nonetheless down 22 p.c from the start of the pandemic. On March 19, 2020 — a couple of days earlier than a stay-at-home order was carried out — the town had 2,575 energetic licenses.
Energetic licenses hit their lowest level in the beginning of this yr, on Jan. 14, at 1,875, Escudero stated. Licensing had grown to 1,956 by April 22, roughly a month in the past.
Denver collects a tax of 10.75 p.c on short-term rental stays within the metropolis. The town collected about $5.6 million on stays booked via websites like Airbnb and Vrbo in 2020. In 2019, that determine was about $10.6 million, in response to information offered by the town. That’s a decline of about 47 p.c.
The sharpest drop in tax income assortment occurred within the late spring and early summer time, as journey was restricted and discouraged as a result of pandemic, and stays at each resorts and short-term leases plummeted. One other dip got here in December following the autumn COVID surges.
However the brand new information is an encouraging indication.
“We hope this can be a sign that tourism to Denver is beginning to enhance for the reason that pandemic,” Escudero stated.