Airbnb’s Impact on NYC Hotels: Winners, Losers, and Dueling Forecasts of New Law
“You’d think a shrinking supply of short-term rentals would be a big boost to hotels. But it’s not at all clear how it will play out, and some will benefit more than others.” – Sean O’Neill
New York City’s short-term rental regulations could slash up to 70% of Airbnb’s 23,000 active listings in the city after September 5. Experts are divided on how the move might affect hotels, and their forecasts are foggy. Yet the analyses reveal interesting details about this critical lodging market regardless.
“Enforcement will be a challenge for the city,” said Professor Makarand Mody.