4 ms·
I got the impression that NYC's objection was less about revenue and more about the city's management of housing. New York has a pretty severe supply/demand di
by vec 13y ago
I got the impression that NYC's objection was less about revenue and more about the city's management of housing. New York has a pretty severe supply/demand discrepancy when it comes to housing, and they've taken pains for a long time to try and keep what housing there is available and at least sort of affordable. Having a service that de facto converts long-term residential housing to hotels seems like the sort of thing the city would object to regardless of the revenue implications.
Besides, most of the money that cities get from tourists they get through sales tax or indirectly through property and income taxes on tourist-supported businesses. I would be very surprised if losing the tax revenue on the hotel stay is enough to convert tourism into a net loss for the city.