Airbnb is about to experience the heavy foot of government regulation.
Airbnb will miss out on more than $400m worth of bookings in London this year as it starts enforcing its new 90-night limit for hosts there, according to new analysis, reports The Financial Times.
The research, which draws on data from AllTheRooms, an accommodation search engine, and analysis by the FT, underscores the growing cost of regulatory compliance for one of Silicon Valley’s most high-profile start-ups.
Other cities are also harassing the firm.
Over the past year, regulators in Berlin banned short-term rentals of entire homes; Barcelona, one of Airbnb’s top markets, has slapped the company with several fines and New York state has introduced strict penalties to prevent Airbnb-style short stays in apartments.
Are hotel operators behind this? Of course.