Inn-flation: Airbnb prices increase by 220% during Canadian Grand Prix

It doesn’t come as too much of a shocker when you learn that Airbnb prices go up when there’s an event in town. It only makes sense.

But how much of an increase is acceptable?

10%? 20%?

You may want to keep rounding up.

A new study by money.co.uk analyzed the average nightly cost of an Airbnb over the dates of the world’s most popular events this year. The average cost of an Airbnb in the same area for the week prior to the event was also taken to highlight the price difference and reveal the events that have the greatest impact on the cost of lodging.

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Of all the events studied, the PGA championship in Tulsa, Oklahoma saw the most dramatic increase, with average nightly prices going from $215 the week before the golf event to $1,502 during the tournament.

The Canadian Grand Prix — happening next month in Montreal — did not far fall behind with average Airbnb prices rising 223.5% during the week of the big race.

To put that into perspective, the average one night stay in Montreal, which would usually hover around $220, would cost you $848 while the Grand Prix is on.

Montrealers know that the price hikes don’t stop at Airbnb. Restaurants, bars, and hotels all jack up their prices during the city’s biggest tourist event of the year. So, if you want enjoy the roaring Formula 1 atmosphere, you better prepare to dish out some cheddar.

While the Grand Prix was the only Canadian event on the list, here’s how the rest of the top 10 rounded out:

Rank	Event	City	Dates	Average Nightly Price (during event)	Average Nightly Price (previous week)	Increase From Previous Week
1	PGA Championship	Tulsa, USA	May 16 – 22	$1,502	$215	597.5%
2	Kentucky Derby	Louisville, USA	May 7	$1,481	$334	342.8%
3	Monaco Grand Prix	Monte Carlo, Monaco	May 27 – 29	$1,398	$341	309.8%
4	British Grand Prix	Silverstone, UK	July 1 – 3	$835	$249	235.5%
5	Canadian Grand Prix	Montreal, Canada	June 17 – 19	$848	$262	223.5%
6	24 Hours of Le Mans	Le Mans, France	June 11 – 12	$415	$146	184.4%
7	Hungarian Grand Prix	Budapest, Hungary	July 29 – 31	$367	$153	140.4%
8	UCI Road World Championships	Wollongong, Australia	September 18 – 25	$781	$348	124.6%
9	Daytona 500	Daytona Beach, USA	February 20	$664	$298	122.4%
10	Indianapolis 500	Indianapolis, United States	May 29	$563	$258	118.1%

So, the next time you’re thinking of travelling to another city, scheduling your stay around big events can save you a ton of cash. But, if you’re looking to participate in the festivities, you may just have to bite the bullet.

To explore the rest of the money.co.uk study, click here.