By the same logic rents will go down, so thanks for the crackdown.
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
#42Well 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…
I used to work for a similar company - a competitor - and the marketing analysis would consistently and very strongly return the same result everytime:
Customers think they are getting more for their money via a short-term rental platform like AirBnB.
The perception is that Hotels have all kinds of additional services (staff, etc) to pay that (somehow) AirBnB hosts don't. The glossy adverts show you a loving, warm, full-of-character home to visit, whilst most hotels have an almost cold, faceless image of nothing but dimly-lit corridor after corridor of numbered rooms.
Reality is most of the properties are owned or managed by rental megacorps, are priced very highly to hide all the commission and fees, they sit empty for long periods of time between rentals, and they get cleaned and maintained _far_ less frequently than hotel rooms do.
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#43I'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.
Yep. It's not a ploy that will do much.
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#44The 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 sa…
thats… yes, too risk averse
people have overwhelmingly positive experiences with airbnb and a few outliers, or people make fun of the pricing of the fees
but the actual experience is pretty benign
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#45I 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.
What does the expression 'plugged in with local polls' mean? Is that a New Yorkism?
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#46Earlier 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?
I can confirm NYC was the starting ground and biggest market place for AirBnB. I had access to data from https://www.airdna.co/ in a former role.
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#47I 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 (VR…
Airbnbs also make sense in this scenario:
- you get more space, a nicer room, for cheaper than an equivalent hotel
Which I'm not sure about NYC specifically, but has generally been true everywhere in the world I've gone
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#48I 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…
The problem is that it’s essentially illegal to build new hotels in NYC.
This is because NYC’s hotel labor unions successfully lobbied to enact a law requiring city council approval to build new hotels in the city. Effectively damning any new developments to endless hand wringing and grandstanding from NIMBYs and other interests.
Many new hotels in recent years were staffed with non-union labor, this was their way to secure leverage in perpetuity.
I’m sympathetic to the union’s position, but this law is going to damage the city’s economy and make NYC unaffordable for many wishing to visit.
https://therealdeal.com/new-york/2022/12/09/how-special-are-...
https://www.nytimes.com/2021/04/27/nyregion/hotels-tourism-n...
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#49The hotels have always been overpriced, especially in New York City with all of the fees and extra taxes. New York City has nearly destroyed Uber and other ride sharing services in favor of taxis, and they will do the same to Airbnb to satisfy the hotels. Protectionism by another name.
Re: Airbnb CEO: NYC hotels will get more expensive after short-term rental crackdown
#50It's funny Brian compares NYC to Paris. If there is one thing the French love is to create rules and regulations. I think the team in Paris realized, probably early on, they could work with the marie or against the marie. And work with some well-meaning regulations. Parisians were concerned about affordability and flat supply early on with Airbnb, VRBO, and PaP. NYC city hall was not and figured the market would sort itself out. Year after year the calls were growing louder about landlords evicting tenants for short term tenants, and the council continued to ignore it. People are angry, they vote, and if you piss them off long enough they can do leverage it in unexpected ways.
I was an early proponent of Airbnb, when it was just geeks renting their flats out for the weekend. But growth meant it had to take over more housing. Taking it away from residents and turning it over to tourists. I wanted it to "Live like a local" but when you have entire buildings dedicated to short term rentals none of the locals are around.