A hotel executive said a recently-passed New York law cracking down on Airbnb hosts will enable the company to raise prices for New York City hotel rooms, according to the transcript of the executive’s words on a call with shareholders last week.
The law, signed by New York’s Governor Andrew Cuomo on Friday, slaps anyone who lists their apartment on a short-term rental site with a fine up to $7,500. It “should be a big boost in the arm for the business,” Mike Barnello, chief executive of the hotel chain LaSalle Hotel Properties, said of the law last Thursday, “certainly in terms of the pricing.”
Well of course it would – and it’s pretty surprising that in 2016 government officials (governors!) still understand so little about technology and innovation that they enact idiot protectionist laws to keep the old way of doing things in place instead of making the old people innovate themselves if they want to stay relevant. Unless, of course, the governor is in the pocket of some hotel lobbyists.