|The regulations have chilled the short-term rental landscape in New York City.
As Insider previously reported, the number of Airbnbs in the city decreased by 77% after the rules went into effect.
But after years of guests’ complaints — weird hosts, too many rules, exorbitant fees — I wasn’t entirely sympathetic to Airbnb’s plight.
Travelers may be better off staying in hotels. After all, they tend to offer a sense of security that Airbnbs simply don’t, Mody told me.
But most people I spoke to said the downfall of short-term rentals could make staying in New York City more expensive. Recent data from Trivago shared with Insider showed the cost of a hotel in New York City increased to $502, a 1.92% bump from September to October.
(To be sure, one analyst pointed out it’s hard to determine if that’s specifically due to the regulations, a product of inflation, or something else entirely.)
“As we enter the holiday season, these trends are expected to continue, making New York City less affordable for families visiting for the holidays,” a spokesperson for Airbnb told Insider.
So travelers may rest easier in hotels, where they won’t have to do pesky checkout chores, live with a stranger, or sleep with a cat, but they can also expect to pay more for the experience.