Airbnb asks NYC to reconsider regulations on short-term rentals

Airbnb (ABNB.O) this week asked New York City to reconsider regulations on short-term rentals that went into effect in September 2023, citing higher prices for travellers and zero impact on the housing market.

In a blog post, Airbnb said Local Law LL18, which states hosts must be permanent occupants of the units being rented and must register with the city before posting rentals, has “failed to combat the housing crisis”.

After the implementation of the law, the number of Airbnb...