Hotel rates in NYC likely to go up
Many Airbnb users with bookings in New York City this Christmas are scrambling to find new accommodations
Due to an unprecedented influx of new hotel rooms in New York City, the city now boasts an ample supply of accommodations to cater to the needs of travelers. However, as most short-term rental options are restricted, it is likely that hotel prices will experience an increase.
Key takeaways
- Lower U.S. airfares are set to boost demand for accommodations further during the fall travel season;
- Many cities worldwide, like London, Paris, and Dubai, have enacted short-term rental regulations, with New York's being especially stringent, raising concerns about potential replication elsewhere;
- Stricter short-term housing rules are being considered in U.S. cities such as Atlanta, Dallas, and New Orleans, as well as international destinations like Florence, Italy, and Melbourne, Australia.
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