NYC's crackdown on short-term rentals might not be a boon for hotels
Extended-stay hotels, which have a similar guest profile to short-term rentals, makeup only about 5% of supply in the city
New York City stands to lose thousands of short-term rental units in the coming months, but that loss in supply doesn't necessarily translate to higher hotel demand.
"If you think of extended stay as only 5% of the total sample, you have to wonder how many of those people staying in Airbnbs were really actually considering staying in a hotel to begin with, so was there a lot of demand?" Kelsey Fenerty, manager of analytics at STR, said on a recent HNN podcast. "But even at the same time, that'll probably help allow some pricing power into the city if there is more demand, if there are more people looking for a place to stay."
Listen to the podcast at HNN