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Three Ways Cities Can Take Advantage of Summer’s Short-term Rental Boom

summer short-term rentals
Whether travelers stay at a seaside cottage in the Florida Keyes, an hacienda in Arizona, or go all out and splurge on a Park Avenue Penthouse in New York, summer’s short-term rental boom is here and cities should prepare. New data from Second Measure, a company specializing in consumer spending research, shows residents are spending more on short-term rental services like Airbnb than they have in the industry’s history, shaking up the top hotel giants, and grabbing more market share of summer’s high-volume hotel and tourism market. The growth of this emerging industry offers governments new opportunities to collect, or recapture, tax revenues through digital regulatory tools and to nurture economic development in their communities…. Continue reading

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