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Stock impact report

LA area could rake in more money in 2028 Olympics by expanding lodging [USA TODAY]

Airbnb, Inc. - Class A (ABNB) 
Company Research Source: USA TODAY
Los Angeles and Orange counties could miss out on millions in economic activity if they fail to increase the number of places to stay when the region becomes crowded with visitors for the A , requested by Airbnb, examined the number of lodging options in Los Angeles and Orange counties combined — areas where most people are expected to stay for the Olympic Games, according to the report. It found that thousands of visitors may be unable to find lodging due to the combined regions' limited supply, forcing them to stay elsewhere in Southern California. That means Los Angeles and Orange counties could lose out on a portion of tourism revenue. But unlocking more short-term rentals in the region could help capture economic opportunities that might otherwise be lost, according to the report. In the most conservative scenario presented, adding short-term rentals in the region would generate over $136 million in direct economic activity, including jobs and combined tax revenue, Airbnb Show less Read more
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