Airbnb's New York City Ban: What It Means for Investors
Not much can slow down Airbnb (NASDAQ: ABNB) these days, it seems. Months of rumors of an "Airbnbust" failed to sap the vacation giant's growth, nor have sustained weakness in consumer spending, concerns about inflation, or the possibility of a recession. Now, New York City is taking a swing at the travel disruptor.
The biggest city in the U.S. and one of Airbnb's top markets just put into effect new restrictions that make it much more difficult to list New York City properties on Airbnb or other vacation rental platforms like 's VRBO.
A new law requires hosts to obtain a license from the city showing that they are complying with the relevant occupancy regulations and building codes. Not only did 7,500 units fail to meet the requirements to get a license, according to a report from industry research firm AirDNA, but other hosts have complained of a backlog in the application process, likely impacting those listings as well.
Source Fool.com
Expedia Inc. Aktie
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