Airbnb rings up US$451.4m revenue in NY in a year
New York
AIRBNB's room-for-rent business model is hurting New York's hotel industry. And while individual hotel chains have been dismissive of the San Francisco-based startup, the organisation that represents them is going on the offensive with its first-ever public disclosure of Airbnb's impact on the lodging industry in one of its biggest urban markets.
The tally: Airbnb accounted for US$451.4 million in gross revenue in New York alone in the 12 months through Aug 31, according to a …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
New US home sales jump to highest level since September
Hong Kong developer weighs stake sale in London office skyscraper project
How Hudson Yards went from ghost town to office success story
Private credit for real estate boosting green building premium
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Forrest Li’s wife buys Gallop Road bungalow next to the one he has redeveloped