New short-term rental rules could impact Penticton tourism
Global News
The Penticton Chamber is speaking out about the new short-term rental restrictions and say they are concerned about the impact it will have on the community.
It’s no secret that there are hundreds of short-term rentals in Penticton, B.C.
However, with new provincial-wide regulations aimed at cracking down on these short-term rentals, local officials say it could have a major impact on the local tourism industry.
“The people that are staying in short-term rental facilities don’t necessarily want to stay in a hotel,” said The Penticton and Wine Country Chamber of Commerce executive director Michael Magnusson.
“While we do have beautiful hotels in and throughout the South Okanagan, families or large groups often prefer to rent a house for different periods of time, and sometimes it comes at a different price point as well. A hotel doesn’t fit every traveller’s needs.”
According to the Chamber, a housing study by the city showed that licensed short-term rental properties that had been inspected and authorized by the city accounted for just over 2 per cent of Penticton’s overall housing inventory.
Meanwhile, Airbnb contributes over 25 per cent to Penticton’s overall tourist economy, which is an industry that employs almost 10 per cent of Penticton’s total workforce.
“You take that away and that is a big hit to our tourism, economic activity,” said Magnusson.
Magnusson went on to say that without a diverse number of places for tourists to stay, they might choose to vacation elsewhere.