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Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

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Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#111

Post by mtalantikite »

hypeit wrote: post #94
JumpCrisscross wrote: post #91

Earlier quoted context omitted.

> New York is famously space constrained Facts over fame. New York City’s population density, 11,200/sq. km [1], doesn’t even make the top-100 list globally [2]. There are a handful of blocks in Midtown, the Wesr Side and downtown that approach anything close to densities where our ability to build constrains us. > There is no new Manhattan land showing up any time soon I have a flat next to a surface-level parking l…

> Facts over fame. You said NY was not space constrained. It's a fact that it is space constrained. Maybe you could squeeze out a bit of density but it is most definitely space constrained.

I think you're both sort of right? NYC is dense for a US city, but not really so for a global city. We're sort of space constrained on an island like Manhattan -- since it's an island -- but much of the outer boroughs are 3 story buildings (with of course exceptions in places like downtown brooklyn, williamsburg, LIC, etc.) There are places in Manhattan we could build more high rise condos, but it's probably easier to focus on the outer boroughs. No one is going to bulldoze brownstone brooklyn, but if we even built more like Paris, which has a population density of almost 2x NYC without skyscraper condos, there certainly would be a huge amount of extra capacity.

I'm not a big fan of what happened to my neighborhood (Williamsburg) with all the giant condo buildings that have gone up over the past decade or so, but people do need places to live and we probably should be growing denser across the entire city. There's definitely a lot of space left, just not a lot of will to change things.

Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#113

Post by JamesBarney »

AnthonyMouse wrote: post #107
JamesBarney wrote: post #40

Earlier quoted context omitted.

Hotels will get more expensive, competition does not limit the effects of supply and demand. But rents will become less expensive.

These effects are not required to occur in equal amounts, however. 40,000 units is a much larger proportion of the short-term rental stock than of the total NYC area housing stock.

Of course they'll have a much larger effect on hotel price than rental price. Hotels have more elastic demand (people can visit other places) and less elastic supply (building new hotels is effectively banned under NYC law).

Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#114

Post by shashasha »

hn_throwaway_99 wrote: post #61

Wow, some of the armchair analyses here are just so lacking in understanding beyond people's own individual experiences ("My AirBnB was dirty!"): 1. Of course hotels will get more expensive. This is basic supply and demand at work. As another poster commented, the total amount of AirBnB inventory in NYC was material. Saying "hotels still have to compete with each other" is just missing the absolute basics of Micro-ec…

“in cities where the hotel business is very active” I really agree with my understanding of the comment referenced in #3. I understood it as whole apartment rental vs hotel. Not room in apartment vs hotel. I would assume seriously cash constrained people would simply opt for room in apartment, which could be a nice deal. but for those who actually need a whole private apartment for some reason, the difference between that price and a nice hotel just isn’t enough to offset the roll of the dice aspect of Airbnb. City specific and imho, but I’d agree it’s accurate for nyc pretty generally.

Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#115

Post by hn_throwaway_99 »

chollida1 wrote: post #33
hn_throwaway_99 wrote: post #24

Earlier quoted context omitted.

> Which means you'd expect alot less people to use airbnb over a hotel in New York. This analysis doesn't make any sense given that New York was a huge part of AirBnB's overall inventory, being their biggest market worldwide for a long time.

> This analysis doesn't make any sense given that New York was a huge part of AirBnB's overall inventory, being their biggest market worldwide for a long time. Was NYC their biggest market? Where can i find the data you're using?

It says it right in the article. Furthermore, the article says Paris is currently AirBnB's biggest market, which further disproves the comment I was responding to. You're not getting many 5 bedroom apartments in Paris, either.

Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#116

Post by RC_ITR »

JamesBarney wrote: post #87
RC_ITR wrote: post #55

Earlier quoted context omitted.

This is always such a weird argument to me, because you know who else adds to an economy? People who live and work there. Forcing people to commute in from Jersey City is a huge net drain on NYC's economy.

In a well functioning city you just build more buildings so you can have tourists and locals.

In a resource constrained world, we have to make trade-offs.

That is not indicative of poor functioning.

It's like saying 'a well functioning human has a six pack and reads 20 books a week.' Like sure one can do those things, but I think it's probably true of neither of us.

Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown

#117

Post by timbo1642 »

hypeit wrote: post #3

I seriously doubt hotels will get more expensive as they still have to compete with each other. I would say Airbnb has never had any influence on hotel pricing in NYC. That being said, I tried Airbnb in NY a few times and it was absolutely disgusting. In most places Airbnbs will be a bit dirtier than a hotel but in NY it wasn't even close. Rats, cockroaches, showers that don't drain, grime everywhere... After a few e…

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