NYC hotel rates to go upNew York City has more than enough hotels to meet traveler demand, Davis said, citing an unprecedented supply of new hotel rooms in the city.
"Since 2020, 10,000 new hotel rooms have been delivered, and over the next couple of years, another 10,000 new hotel rooms will be delivered to the city," he said.
"So there's absolutely more than enough supply of hotel rooms to accommodate all the tourists that want to come to New York City."
Knock-on effectFrom London to Paris and Dubai, cities across the world have regulated short-term rental markets.
"It's certainly possible that they could follow the lead of New York City," Davis said.
Persons:
we've, Kevin Davis, Davis, CNBC's Mandy Drury
Organizations:
Associated Press, New York City, JLL, Hospitality's, Google, New, & '
Locations:
New York City, New York, Hospitality's Americas, airfares, United States, U.S, airfare, London, Paris, Dubai