Airbnbs in NYC are disappearing. Here's what could happen to hotel prices
Publishing timestamp: 2023-09-18 05:04:50
Summary
Airbnb is canceling and refunding bookings in New York City due to new regulations aimed at curbing illegal short-term rentals. The drop in Airbnb listings has led to increased interest in staying in hotels, but hotel rates are expected to rise. Other cities may adopt similar regulations, and there is a softening in short-term rental demand due to the pandemic.
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Keywords: entertainment, hospitality and leisure industry, economy, travel, business news, tourism, vacation costs, vacations, family travel, accommodations, airbnb inc, holidays, life, wealth, luxury travel, business travel, adventure travel, hotels and resorts, luxury, real estate, lifestyle, new york, new orleans, new york city,