Airbnb urges NYC to roll back short-term rental regulations
Company says travelers are being priced out and hosts are struggling as Airbnb short-term rentals in NYC drop 83% in one year
Airbnb is calling on New York City officials to ease a regulation that has effectively banned most of its short-term rental listings since it was implemented nearly a year ago, citing negative consequences for both travelers and hosts.
Key takeaways
- According to Airbnb, rents in New York have continued to rise while travelers face fewer lodging options and skyrocketing hotel prices, pricing many out of affordable accommodations;
- Data from AirDNA, a data analytics firm, shows that the number of short-term Airbnb listings has dropped 83% in a year, to just 3,700 as of August;
- For Airbnb, this regulatory shift threatens significant revenue. The company has previously disclosed in court filings that it expects to generate $85 million in net revenue from New York in 2022.
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