**
As excitement builds for the upcoming FIFA World Cup, which will see matches hosted in Vancouver and Toronto, many local short-term rental hosts are facing an unexpected challenge: a significant drop in bookings. With the tournament set to run from June 12 to July 7, rental properties that were expected to be in high demand are instead seeing little to no interest from fans.
A Surprising Lack of Interest
May Chu, a Vancouver-based Airbnb host with three years of experience, is among those perplexed by the current rental climate. Despite her two-bedroom guest suite being typically booked solid during this time of year, she reports receiving no reservations for the World Cup period. “It is incredibly strange how there are no bookings. Back in December, my pricing software predicted rates of $2,000 per night. Now, it keeps decreasing,” Ms. Chu explained. Her suite is currently listed at a more moderate £440 per night, yet she finds herself with empty rooms.
In a similar predicament is Shelby Lim, who owns a condo close to BC Place stadium. Despite having consistent bookings up until the day before the World Cup, her property remains unreserved for the tournament itself. “I was hoping to charge between £1,000 and £1,500 per night during the World Cup, but I’m currently offering it for less than £500 and still seeing no interest,” Lim lamented, revealing her discontent over the money spent on upgrades to attract guests.
Toronto Hosts Face the Same Challenges
The situation in Toronto is equally troubling for new Airbnb hosts. Matthew Collins, who listed his one-bedroom apartment near BMO Field three weeks ago, anticipated a surge of interest from tournament attendees. Instead, he’s found the market over-saturated, leading to minimal inquiries. “My rates are below what seems competitive, yet I think the market’s just flooded,” he remarked. Adding to his woes is the £390 municipal fee imposed on all short-term rental hosts in Toronto for registration.
Airbnb had previously announced an incentive programme offering £1,000 to those listing properties in World Cup host cities, aiming to boost participation. However, despite around 4,000 new listings in both cities since October 1, the reality remains stark: approximately 80% of listings in Toronto and 70% in Vancouver are still available and priced under £500 per night, according to Airbnb spokesperson Matt McNama.
Hotel Bookings Also Down
This trend isn’t limited to short-term rentals; hotels in both cities are experiencing lower than expected occupancy rates. Destination Vancouver has reported a 20% drop in hotel bookings for June compared to the previous year. CEO Royce Chwin anticipates a gradual uptick in reservations as the tournament date approaches, although he acknowledges that demand remains far from the levels seen during major events like Taylor Swift’s Eras Tour.
In December 2024, rooms during Swift’s concerts skyrocketed to £1,000 per night from standard rates of £400 to £600. In contrast, hotel prices for the World Cup match on June 13 average between £600 and £800, indicating a less frenzied market. Chwin suggests that many fans may choose to travel to follow their teams rather than stay in Vancouver for the entire tournament.
Mixed Factors Affecting Demand
Sara Anghel, CEO of the Greater Toronto Hotel Association, confirmed that Toronto’s hotel demand during the games has been softer than anticipated. She attributed this to FIFA officials cancelling hotel bookings, as well as conferences and other events being rescheduled due to the World Cup.
Andrew Weir, CEO of Destination Toronto, remains optimistic about the long-term prospects of hosting such a significant event. “FIFA hosting this event is just an enormous opportunity for our city,” he stated. “While it’s uncertain whether we will surpass previous June metrics, we are confident that the World Cup will ultimately contribute positively.”
Why it Matters
The unexpected downturn in bookings for both short-term rentals and hotels during the FIFA World Cup presents a complex challenge for hosts in Vancouver and Toronto. While the tournament is poised to draw international attention, local hosts are grappling with market saturation and changing travel patterns, which may dampen potential economic benefits. Understanding these dynamics is crucial for stakeholders as they navigate the evolving landscape of tourism in these vibrant Canadian cities.
