Quantcast
Rooms Hotels

A Transient Workforce and Rising Rents Lead to Growth of NYC’s Extended-Stay Market

Excerpt from New York Times

Skift Take

The growth of extended-stay hotels strengthens Airbnb’s argument that travelers are looking to stay in places that feel with a more local, authentic feel. But these hotels and apartments have the added benefit of being legal in New York.

— Samantha Shankman

Known as extended-stay, corporate or short-term housing, these units have proliferated in recent years across Manhattan, both in buildings dedicated solely to this function and scattered inside existing rentals and condos.

Part of the uptick in supply can be explained by softening rents that are prompting landlords to search for alternate ways of filling units, analysts say. But they add that fundamental changes in hiring practices — businesses choosing temporary workers over full-time ones — are also having a major influence.

Read the Complete Story →

More Stories Below ▼
Travelzoo Reacquires Its Asia-Pacific Business From Founder for $22.6 Million
The State of Travel Media 2015
Trend Report

The State of Travel Media 2015

Skift Business Traveler: Uber and Lyft Infiltrate American Airports
Video: How Amsterdam is Rethinking Urban User Experience to Build the City of the Future

Video: How Amsterdam is Rethinking Urban User Experience to Build the City of the Future

Daily Travel Startup Watch: GapDoc, Xenos Local and More
The Vacation Rental Technology Ecosystem
Trend Report

The Vacation Rental Technology Ecosystem