“'Local government is in a world of hurt,' UCLA Senior Economist David Shulman said. 'This is especially hitting cities that are tourist-reliant and get revenue from hotel taxes and sales taxes. This isn’t just regular tourism. There is also business tourism and conventions. So if your city is Santa Monica, Anaheim, Los Angeles, this shutdown is creating big holes in your budget.'”
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Recent Posts
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05/20/2020
12/20/2015
LABJ: "Different Destination?: Airbnb Should Welcome Working with Hospitality Stakeholders to Avoid Fate of Music Service Napster"
Ziman Center's Paavo Monkkonen and Nathan Holmes write, "In its rush to corner the home-sharing market, the company risks engendering a serious backlash in certain metropolitan contexts that threatens its business model. Although there is only mixed evidence so far that Airbnb is either cutting into hotel taxes or pulling a significant number of housing units off the market, cities are understandably concerned about any possibility of lost revenue and the prospect of long-term rental units being taken off the market in neighborhoods where increasing housing supply is unfortunately not possible. Residents of many neighborhoods have their own worries over how a sudden increase in the amount of short-term rental properties affects the character of their neighborhood."
About UCLA Ziman Center for Real Estate
- UCLA Ziman Center is a multidisciplinary research center of UCLA Anderson School of Management and UCLA School of Law. We seek to advance thought leadership in the field of real estate by generating influential research, educating the next generation of leaders and providing meaningful forums for industry professionals and policy makers.
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