Might be true in theory but not in NYC. There are constantly cases of illegal hotel conversions where landlords try to run their own hotels. That might be parti

Might be true in theory but not in NYC. There are constantly cases of illegal hotel conversions where landlords try to run their own hotels. That might be partially to avoid licensing (I know hotels in NYC need special permits) and taxes, but it's not the case that residential landlords don't want to run hotels.