TY - JOUR
T1 - Impact of short-term rental regulation on hotel industry
T2 - a difference-in-differences approach
AU - Yeon, Jihwan
AU - Song, Hyoung Ju
AU - Lee, Seoki
N1 - Publisher Copyright:
© 2020 Elsevier Ltd
PY - 2020/7
Y1 - 2020/7
N2 - While short-term rentals such as Airbnb have experienced very rapid growth in recent years, many local governments have been introducing intensive limits, restricting its operations. For example, in 2016, New York State prohibited listing an advertisement for illegal short-term rentals, which has raised an interesting of question whether the regulation affected the performance of the hotel industry or not. This paper, therefore, aims to examine the impact of the short-term rental regulation on hotel performance in an affected state. This study conducted a difference-in-differences technique in comparing the performance of hotels in New York and Washington D.C. Results show that the regulation had a positive ripple effect on the performance of lower-scale hotels.
AB - While short-term rentals such as Airbnb have experienced very rapid growth in recent years, many local governments have been introducing intensive limits, restricting its operations. For example, in 2016, New York State prohibited listing an advertisement for illegal short-term rentals, which has raised an interesting of question whether the regulation affected the performance of the hotel industry or not. This paper, therefore, aims to examine the impact of the short-term rental regulation on hotel performance in an affected state. This study conducted a difference-in-differences technique in comparing the performance of hotels in New York and Washington D.C. Results show that the regulation had a positive ripple effect on the performance of lower-scale hotels.
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U2 - 10.1016/j.annals.2020.102939
DO - 10.1016/j.annals.2020.102939
M3 - Article
AN - SCOPUS:85084405659
SN - 0160-7383
VL - 83
JO - Annals of Tourism Research
JF - Annals of Tourism Research
M1 - 102939
ER -