NYC Agrees Not To Enforce Law Targeting Airbnb Until September
Portfolio Pulse from Benzinga Newsdesk
New York City has agreed not to enforce a law targeting Airbnb until September, according to Bloomberg. The law requires short-term rental platforms to share data about their listings with the city.
June 12, 2023 | 3:26 pm
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POSITIVE IMPACT
Airbnb will not face enforcement of a NYC law requiring short-term rental platforms to share data about their listings with the city until September.
The delay in enforcement of the law targeting Airbnb provides the company with more time to prepare for compliance and potentially negotiate with the city. This is likely to have a positive short-term impact on Airbnb's stock price as it reduces immediate regulatory pressure.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100