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Stock impact report

Demand surges for Airbnbs during the World Cup in L.A., with prices jumping 56% [Los Angeles Times (CA)]

Airbnb, Inc. - Class A (ABNB) 
More than 70% of short-term rentals are already booked for June 12 when the U.S. plays Paraguay, up 58% from typical reservation rates. The World Cup marks a test case for 2028 Olympics preparations, though some Southern California cities have yet to enforce short-term rental regulations. On June 12, Peggy Orenstein's inbox flooded with booking requests for her Inglewood Airbnb. The date seemed random, but after a quick search, the influx of interest became clear. It was exactly a year before one of the biggest events in American soccer history, when the U.S. will kick off its World Cup in a match against Paraguay at SoFi Stadium, and Orenstein had set up the system to only accept booking requests up to a year in advance. Orenstein's rental sits just across the street from the venue. Suddenly, her Airbnb became one of the hottest homes in the Southland. She hadn't adjusted the prices yet to reflect the rabid demand, so she declined the requests and tweaked the rates. Typica Show less Read more
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