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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

#21

Post by KenArrari »

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…

This has already happened.

The supply is lower now. The demand is the same. The prices must go up from the people competing for the smaller number of rooms. This is also why it caused rents to rise.

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

#23

Post by fasthands9 »

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…

I'm seeing stats that say hotel occupancy in NYC averaged 87% percent last year.

I'm also seeing there are 123,000 hotel rooms and there were 40,000 airbnb listing in NYC.

This seems to suggest that supply of airbnb will materially change total hotel listings.

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

#24

Post by hn_throwaway_99 »

chollida1 wrote: post #14

Well AirBnb banning in New York is alot different than in other cities just by virtue of the type of accommodations that are available in New York. If you ask most people why they airbnb over hotels they say its because I can take my family or group of friends to an airbnb, where as in a hotel we'd need to get 4-5 rooms. In most other cities you can trivially find 5 bedroom places that fit that bill. In New York I'm…

> 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.

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

#25

Post by rdtsc »

The stories I have read over the years had kept me from trying Airbnb. Maybe I am too risk averse, but if I spend money and time on vacation, leaving all that up to some unknown shady host to mess up and then having to fight with Airbnb support sounds not enjoyable at all. I'd rather be surprised by fun and enjoyable things.

> Hyatt announced a new vacation rental platform, Homes & Hideaways by World of Hyatt, the same day Chesky was speaking.

That's one good thing is that it keeps hotels on their toes and forced them to play in that market as well.

> Further, IHG is even offering 10,000 IHG One Rewards points to travelers who can prove their New York City Airbnb reservation was canceled in light of the new city policy.

That sounds like an interesting approach. Just the ad itself is enough to turn heads. 10k points is not a huge amount but might still get a number of customers. When a competitor mistreats a customer, and you're the one helping them solve their issue, they'll remember that forever.

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

#27

Post by itsoktocry »

Yes, cracking down on the unlicensed, uninsured black market in hotel rooms will raise the price of an average stay. But there are obvious benefits that the Airbnb CEO isn't considering.

I feel hypocritical, because with a young child Airbnb is awesome for trips. We get space and separate rooms. But I understand the strain it's putting on our system (I'm Canadian).

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

#28

Post by JamesBarney »

RC_ITR wrote: post #10

Yeah and on the flipside the price of rent will go down. A weird quirk of America is that we are so obsessed with tourism that we are willing to sacrifice quality of life for people who live in one place, for the benefit of a bunch of people who visit for 3-4 days. This is the peak of that thinking.

Regions do not support tourism for the sake of the tourist. They support tourism, because tourists spend lots of money which flows into the pockets of the people that work there. Tourists spend around 48 billion on the NYC economy.

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

#29

Post by p_j_w »

blockwriter wrote: post #11
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…

I have the same negative perception of AirBnBs in New York. I think the city also encourages hustler types, or people that are plugged in with local polls, who get away with everything they can.

You don't need to be a hustler or plugged in with local polls to get away with running a shoddy AirBnB, the site will happily let you do it and the space is completely unregulated.
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