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Stock impact report

Airbnbs are topping $6,000 a night in World Cup housing frenzy [Fortune]

Airbnb, Inc. - Class A (ABNB) 
Company Research Source: Fortune
Recommended Video Bobby Roufaeal, who manages more than a dozen short-term rentals in New Jersey, said a luxury rental in the state could bring in $240,000 between June 11 and July 19 when the tournament runs. He said he's tripling rates for his units in anticipation of fan inflow for the games and fielding calls from homeowners looking to capitalize on demand. “They're like, listen, I'll figure it out. I'll go stay with my relatives for the month or for a few weeks just to be able to capitalize on this revenue,” said Roufaeal, founder of Settled In Property Management. Already listings show a surge in prices. One six-bedroom Airbnb Inc. property in Princeton, New Jersey, is offered at roughly $6,000 a night during the World Cup, about 140% higher than its price a year ago. That's despite being more than an hour's drive from the games being played at MetLife Stadium. The fervor is reshaping the lodging market in World Cup cities across the US, which are expecting millions of Show less Read more
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