The American Express GBTs of the world won't lose sleep over this. But Kayak's effort should be a wake-up call to the sector. Technologies like blockchain may be seeding more competition at last.
Given NYC's tepid pace of approving host registrations of shared spaces, the most prevalent choices now on major short-term rental platforms are illegal listings and hotels.
You probably can't blame travel companies for giving travelers more options for financing their vacations. But which will be the first to run a YouTube ad on how to responsibly budget for your next trip?
New York City isn't a nimble tech company, for sure. It's untenable for the city to mandate a September 5 enforcement deadline to implement new host registration rules when the city hasn't met its side of the bargain.
Platforms and hosts will get some breathing room from the city in the early days after the registration rules kick in. There are enough moving parts to keep most of the fines at bay in the short term.
If the European Commission's decision isn't overturned, one implication may be that Booking.com would be precluded in practice from making major acquisitions. Period.
New York City's short-term rental choices will be a shadow of their former selves starting September 5. That's good for neighbors tired or parties and nuisances, but bad for hosts and travelers looking for affordable visits.
The vision for the hospitality sector goes much beyond just branded hotels — to include tier-2 and 3 cities which will be crucial for tourism growth. Plus, other highlights from last week's news in hotel deals and development across the country.