NYC Airbnb listings drop by 77%
The city's powerful hotel sector, which has consistently opposed Airbnb's ascent, stands to gain significantly from this new regulation
The fast-evaporating listings have left thousands of visitors planning to spend the holidays in Manhattan in limbo - and is expected to provide a boon to the city’s hotel industry.
Key takeaways
- Over 75% of short-term Airbnb rentals have vanished in NYC due to city regulations;
- Some have shifted to rentals exceeding 30 days, up 48% to 34,900 listings (87% of Airbnb's NYC inventory);
- Hotels, originally forecasting a 10% revenue increase for 2024, might now see up to 16% growth due to Airbnb's reduced presence.
Get the full story at The New York Post