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Airbnb Hosts Contribute Nearly $1B to LA County Economy

Airbnb rental units in Los Angeles County generate roughly $906 billion in overall economic output annually, according to a study from the Los Angeles County Economic Development Corp. (LAEDC). The report commissioned by Airbnb, detailed the contributions to the region including what visitors spend, payments to suppliers and what households will spend as a result of new jobs and the earnings created as a result.

Additionally, Airbnb supports 7,440 jobs, and activity in the city is expected to generate $39.1 million in annual transient occupancy taxes, based upon the 14% transit occupancy tax that is collected by Airbnb and remitted to the city.

The report came out as the City of LA’s Planning and Land Use Committee was considering short-term rental regulations. The council is having city staff further research the LAEDC findings.

The study included revenue generated by hosts in Los Angeles from May 2016 though April 2017, from information Airbnb provided as a way to project overall economic impact on the county.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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