In another loss for the little guys, the hotel-industry-driven city crackdown on Airbnb rentals has succeeded.
It’s a win for the industry, which expects per-hotel-room profits to bump as much as 5% now that key competition’s been banned, and for the hotel unions, which obsess about Airbnb as a supposed threat to members’ jobs.
And so 15,000 or so New Yorkers have lost the chance to earn some extra cash to help cover the bills, while the folks whostayed in those units either choose a new destination or get set to pay through the nose for less space in a hotel. That number — just 15,000 — also puts the lie to the idea that Airbnb has a darn thing to do with the city housing crisis: Even if all those unitsMeanwhile, the hotel market — at around 125,000 rooms — doesn’t need the help of less competition: It’s already benefiting from the tens of thousands of illegal migrants getting put up at taxpayer expense.
Special interests served: check. Minor entrepreneurs and budget-challenged would-be visitors slammed: check. Taxpayers lose: check.
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