New York Outs Airbnb

Category: Hotels, Posted:25 Oct 2016 | 10:10 am

New York State has signed into law a landmark bill making it illegal for owners to rent out residences for less than 30 days.

Airbnb has reportedly filed a counter lawsuit in Federal Court.

Under the new law, fines of up to USD7,500.00 would apply to homeowners.

The current market valuation of Airbnb is USD30 billion

According to the New York Times, the online marketplace generated staggering USD1 billion in revenue last year from New York City rentals.

Another legal battle is playing out in San Francisco, where the issue is Airbnb’s right to act as a third party provider of content and not be liable for legal issues on rights to rent.

Stay tuned as the battle of hotels versus the shared economy is well underway.

Other News

Direct Hanoi Phuket Flights Commence

Category: Tourism, Posted:20 May 2023 | 12:11 pm Vietjet has kicked off direct flights between Hanoi and Phuket. The airline also operates daily service between the Thai resort island and Ho Chi Minh City. While short-haul regional Phuket is gaining pace, with China gaining traction, long-haul traffic to Thailand remains slower compared to 2019, according to OAG. Thai Airways International’s absence from the […]

Phuket Hotels Association Online Travel Auction Now Open

Category: Hotels, Posted:14 May 2023 | 09:56 am The annual non-profit Phuket Hotels Association Absolutely Fabulous Online Travel Sale is now up and running. CLICK With nearly 200 hotel travel and dining deals across Thailand, Asia the globe, all proceeds go to the education scholarship fund of PHA. Over 45 Thai hospitality students are now supported by the fund and these are the […]

C9 Hotelworks and Horwath HTL Release New Bali Hotel and Branded Residences Report

Category: Hotels|Real estate, Posted:28 Apr 2023 | 16:33 pm The resort island of Bali continues to be one of the world’s most desired holiday destinations. Over the past three decades, its resort real estate market has continued to evolve and change. Though, for branded residences, both in the lead-up and period after the global pandemic it has lagged behind other key Southeast Asian leisure […]

More Insider News