Airbnb has millions of listings in thousands of cities across the globe. Its extraordinary, unprecedented success has led to rental hikes and decreased availability of to-let apartments to people wanting to live longer in the city.
As more and more hotels take note of this business model and try to replicate it, Airbnb, which is essentially a digital service provider, is moving into the property business itself in NYC. It faces regulation from many governments, but to date has managed to survive and thrive.
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