2 ms·

Sounds like this will promote growth of new hotel construction/expansion. Great!

• jdminhbg 3y ago
  Ideally it would; in practice, zoning and planning prevent supply from keeping up.
• genericname 3y ago
  NYC recently passed a zoning amendment which requires special permits and additional construction rules for new hotels https://www.hvs.com/article/9578-new-york-citys-2018-2021-hotel-zoning-amendments https://www.hvs.com/article/9578-new-york-citys-2018-2021-ho... Unfortunately, I do believe the extra burden will lead to less construction and I worry that short-term stays will indeed become more expensive because of the lower supply of rooms.
  • Salgat 3y ago
    In many parts of the city hotels have already outpaced other non-residential development. These regulations, on top of supporting union workers, just ensure that hotels don't take over too much of certain parts of the city. The biggest issue with AirBNB is that you have unregulated conversion of residential property into short term hotels, which impacts long term residents living in the city. A hotel shortage mostly impacts tourism, which is already booming in the city and is a less critical issue for NYC residents.