51–60 of 117 posts
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.
airbnb has been banned and regulated heavily in a lot of places already. has this happened anywhere? all i see is rents keep going up
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…
Meanwhile, office rental space are in trouble, such an irony.
Also, while this may not apply to NYC, I will never ever book hotels on a long term basis but apartments because I just don't want to eat out but instead feel at home with kitchen etc. Airbnb or booking.com flats are my go to option wherever I go. Again, not particularly relevant for NYC simply because it was already too expensive to stay there for an extended amount of time.
Sounds like this will promote growth of new hotel construction/expansion. Great!
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…
Can confirm— stayed in a flat in Brooklyn and it was gross. Bathroom worked but the kitchen was full of roaches. Anything not sealed had to go straight in the fridge.
Even then, I used to occasionally see roaches in my unit. I can’t imagine what it’s like when you have an AirBnb with some very transient tenants and no pest control.
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.
Forcing people to commute in from Jersey City is a huge net drain on NYC's economy.
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…
But honestly, I'm skeptical. You have something like 60+ million people visiting NYC every year. Airbnb's inventory was tiny in comparison to that. Also, tourism absolutely cratered during COVID and hasn't fully rebound yet, so there's likely plenty of spare capacity.
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 T…
I hope this means lower rent for New Yorkers, 15,000 apartments possibly going back to the rental market seems like something positive.
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…
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…
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.
Except it hasn't. Hotel prices are the same today in NY as they were when Airbnb was going full blast. Again, NYC has always had excess hotel inventory. There is no shortage that would effect pricing. You can check right now on Expedia and see that prices are roughly the same as last year and the year before that.