As the countdown to the FIFA World Cup intensifies, excitement is palpable in Vancouver and Toronto, which are set to host a total of 13 matches from mid-June to early July. However, contrary to expectations, many short-term accommodation hosts in these cities are finding themselves grappling with disappointing booking rates. This unforeseen situation poses questions about the anticipated economic windfall and highlights the challenges of the current rental market.
Disappointing Bookings for Hosts
Despite the influx of football fans anticipated for the tournament, some hosts on platforms like Airbnb report a startling lack of interest. May Chu, who has been renting out her two-bedroom guest suite in Vancouver for three years, has yet to secure a single reservation for the World Cup period. Previously, her pricing software suggested nightly rates of around £1,600, a figure that has now plummeted as she struggles to attract guests.
“It’s incredibly strange how there are no bookings,” Chu lamented, noting that her suite has historically been booked solid during June. With a current price of £350 a night, she finds herself puzzled at the lack of interest.
In a similar vein, Shelby Lim, an Airbnb host near BC Place stadium, expressed frustration over the situation. “I have bookings all the way up to FIFA, and then it just drops off,” she explained. Lim had hoped to charge between £800 and £1,200 per night during the tournament but is now offering her property at under £500, revealing the financial strain of her decision to upgrade her accommodation.
A Broader Trend Across Toronto
The challenges are not confined to Vancouver. In Toronto, first-time Airbnb host Matthew Collins is experiencing a similar lack of interest for his one-bedroom apartment located mere steps from BMO Field. Collins, who registered his property about three weeks ago, had anticipated a busy World Cup period but has been met with disappointment. His competitive rates have failed to draw bookings, compounded by a £300 municipal fee for short-term rental registration.
“I think the market’s just flooded,” he remarked, highlighting the saturation of available listings in the city.
Airbnb recently reported an influx of new hosts, with approximately 4,000 new registrations in Vancouver and Toronto since October 1. Despite this, spokesperson Matt McNama revealed that a significant portion of listings—around 80% in Toronto and 70% in Vancouver—remain available and priced under £500 a night.
Hotel Industry Faces Similar Struggles
The hotel sector is also feeling the pinch. Data from Destination Vancouver indicates that hotel bookings in the city are down by 20% compared to last year. CEO Royce Chwin expects that reservations will pick up as the tournament date approaches, but the current demand appears lacklustre when compared to other major events, such as Taylor Swift’s recent concerts, which saw hotel rooms fetching exorbitant rates.
For instance, on June 13, the day Vancouver kicks off its first World Cup match, hotel prices are reportedly averaging between £480 and £640, a stark contrast to the soaring prices seen during the Swift concerts.
Chwin noted that many fans may choose to travel to multiple cities to follow their teams rather than stay put in Vancouver, affecting local accommodation demand.
Challenges Faced by the Greater Toronto Area
In Toronto, the situation mirrors that of Vancouver. Sara Anghel, CEO of the Greater Toronto Hotel Association, acknowledged a “softer demand” than anticipated during the World Cup games. She attributed this to FIFA officials’ last-minute cancellations of hotel bookings, as well as rescheduled conferences and events that conflicted with the tournament dates.
Andrew Weir, CEO of Destination Toronto, emphasised the potential long-term benefits of hosting the World Cup, asserting that the event represents an enormous opportunity for the city. “We can still expect a good fill, but whether it surpasses previous Junes is still uncertain,” he said, urging stakeholders to maintain a holistic view of the tournament’s impact.
Why it Matters
The current booking difficulties faced by hosts and hotels in Vancouver and Toronto underscore the unpredictability of large-scale events like the FIFA World Cup. While cities anticipated a surge in tourism and economic benefits, the reality suggests a more complex landscape influenced by market saturation and changing travel patterns. As the tournament approaches, both short-term rental hosts and hotels will need to adapt to a shifting environment and reconsider their strategies to attract visitors. The outcome of this World Cup could reshape future expectations for host cities, revealing valuable lessons on managing large-scale events in an evolving tourism landscape.
