I’m skeptical of the claim that short-term rental clampdown is the main factor influencing NYC’s $300-a-night average hotel room rate these days.
It seems likely also to have to do with the decision [0] to convert 20% of the city’s stock of hotels to shelters even
as demand rebounded post-COVID. Primarily the stock on the cheaper end of the market.
It seems likely also to have to do with the decision [0] to convert 20% of the city’s stock of hotels to shelters even as demand rebounded post-COVID. Primarily the stock on the cheaper end of the market.
[0] https://www.nytimes.com/2024/05/25/nyregion/hotels-prices-mi...?