Airbnb has survived what could have been a huge blow to its business in San Francisco.
Proposition F, a local ballot measure that was seen as a threat to Airbnb in its hometown, has failed.
The measure would have curbed the number of days a person can rent on the Airbnb platform--capping both hosted and unhosted rentals at 75 days per year.
Preliminary results out Tuesday night showed San Francisco voters rejecting Prop F by a significant margin --with more than 55 percent of voters saying no to the measure, according to the city's Department of Elections.
The measure was largely seen as a threat to Airbnb's overall growth--and a costly one, too. The passage of Prop F would have cost Airbnb $6 million in revenue per year, as reported by Business Insider's Biz Carson.
Airbnb has spent $8 million fighting Prop F. The company's head of policy, Chris Lehane, applauded the vote in a statement issued to Business Insider late Tuesday. Lehane calls the vote "a decisive victory for the middle class."
You can read Airbnb's complete statement below:
Thank you, San Francisco.
Tonight, voters stood up for middle class families’ right to share their home and opposed an extreme, hotel industry-backed measure.
This election was a victory for the middle class and it was made possible by the 138,000 members of the Airbnb community who had individual conversations with over 105,000 voters, knocked on 285,000 doors, including 55,000 today, and worked to generate support from more than 2,000 small, family-owned businesses in the city. This effort shows that home sharing is both a community and a movement.
In this election, the Airbnb San Francisco home sharing community became a movement, showing up at the polls in large numbers and voting overwhelmingly against an effort designed by the hotel industry that targeted the right of the middle class to use home sharing as an economic lifeline.
We want to thank our community in San Francisco for their hard work, and for standing up for what we all believe in. Your guts and determination inspire us every day. We are immensely grateful to everyone who stood with us during this campaign, including the countless individuals, small businesses, local and state elected officials, community leaders and organizations who lent their support to this campaign.
We also want to underscore our commitment to working with everyone in San Francisco to make this City an even better place to live, work and visit. Airbnb could have only been started in San Francisco -; a community that welcomes and celebrates new ideas and a new way of doing things. San Francisco has experienced affordability issues for decades and our community wants to be part of the solution. This City is our home, and no matter where you stood on Proposition F, we want to work with you to make San Francisco stronger for everyone.
Finally, we know members of the Airbnb home sharing movement around the world have been watching this campaign and we are excited to work with you to educate policymakers and community leaders in cities and towns around the world about the benefits of home sharing.
We’ve already seen leaders in places from Amsterdam to Philadelphia, from Milan to Nashville, from London to San Jose and from Paris to Jersey City embrace home sharing (just to name a few). In October, the State of California passed a law ensuring state employees can travel on Airbnb for state business. Last week, the governing party in Tasmania endorsed home sharing as a critical tool for the middle class. And earlier tonight the City of Boulder, Colorado voted to support a progressive short term rental law.
We want to continue to be partners with governments to craft fair, progressive rules for home sharing that support the middle class and allow cities to address issues that are important to their community. We’ll be giving our community more opportunities to speak out and be a part of this work.
Tomorrow, informed by the efforts in the San Francisco campaign, we will be announcing the next steps in this movement to support home sharing.