Skift Take
Diluting its short-term rental business is one thing Airbnb won't need to worry about if it indeed increases its hotel offerings in New York City.
Now that Airbnb has seen its listings numbers collapse in New York City because of a regulatory crackdown, the short-term rental company thinks boutique hotels can help fill the gap.
CEO Brian Chesky, when discussing the impact of NYC regulations during Airbnb's earnings call last week, said adding more boutique hotels is "a real opportunity."
"We still have a lot of traffic of people searching for New York, and we now have a lot less inventory than we used to have, so there's a real opportunity for us to supplement what used to be homes with boutique hotels