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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

#31

Post by l72 »

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 find AirBnBs only make sense in two scenarios:

- You need a "long term" stay, like 3-6 weeks. When I travel over seas, I usually stay in a single city for at least 3 weeks. Having an AirBnB makes sense. I don't need daily cleaning and having a kitchen is great! - You need a full house for a family gathering.

Neither of these compete with hotels.

Granted, there were options for these types of stays before AirBnB (VRBO and private listings), but AirBnB elevated these.

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

#32

Post by p_j_w »

hamandcheese wrote: post #18

There is no mention of the long term rental market and how this may affect it, which feels like a glaring omission.

It's an intentional omission, the AirBnB CEO is trying to take everyone's eyes off the ball. He's trying to redirect your attention like a cheap magician.

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

#33

Post by chollida1 »

hn_throwaway_99 wrote: post #24
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.

> 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?

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

#34

Post by cypress66 »

fasthands9 wrote: post #23
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.

> 123,000 hotel rooms

That sounds kinda low for NYC.

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

#35

Post by bobthepanda »

etchalon wrote: post #22

I'm shocked that the CEO of Airbnb would go out and try to get consumers angry about a policy which negatively impacts his business.

People who are not residents of New York (the customer base) have pretty much no leverage over a government entirely elected by the residents.

Of the residents, there are a lot more pissed off renters and neighbors than there are AirBNB hosts.

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

#36

Post by toomuchtodo »

objektif wrote: post #15

Tech CEO: Please do not stop us from making money.

It is in vogue to call AirBnB a tech company, but they are no different than any other internet booking engine (Booking.com, Expedia, etc). The only difference is they manage the inventory database themselves vs plugging into other lodging inventory systems.

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

#37

Post by gumby »

He’s whistling past the graveyard, as I suppose he should be. As others have commented, Airbnb was never enough to move the needle on hotel prices in NY anyway.

But they did move the needle on quality of life for people who live there, which is whom the government represents. Historically it’s the visitors who get soaked everywhere (car rental fees at airport, hotel visitor taxes and of course Cheesecake Factory in Times Square). The sheer mass of these charges in NY are another reason why Airbnb had no impact on costs.

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

#38

Post by [deleted] »

hypeit wrote: post #16
atleastoptimal wrote: post #9

Earlier quoted context omitted.

Supply and demand. Fewer AirBnB's mean more will use hotels who will otherwise use AirBnB, leading to hotels increasing their prices, even though they compete with each other.

There's no shortage of hotel inventory in NY. The supply is there. Hotel pricing didn't change at all in NY pre/during/post-Airbnb.

[deleted]

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

#39

Post by floatrock »

Cool, now do housing costs for the people living there (and, theoretically, the ones deciding how their own city should be regulated).

Backlash was never about hotel prices, it was always about the externalities like rampant real estate speculation driving up housing costs and hollowing out neighborhoods for a quick buck. The corporate economic pollution.

Turns out there's a certain point where people want their quality of life. Ignoring this angle is completely disingenuous and tone deaf, but hey, if your argument can't stand on the merits, throw in a fear-mongering distraction. CEO-speak 101.

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

#40

Post by JamesBarney »

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…

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