Sept 3 (Reuters) - Airbnb ( ABNB ) on Tuesday asked New

York City to reconsider regulations on short-term rentals that

went into effect in September 2023, citing higher prices for

travelers and zero impact on the housing market.

In a blog post, Airbnb ( ABNB ) said Local Law LL18, which states

hosts must be permanent occupants of the units being rented and

must register with the city before posting rentals, has "failed

to combat the housing crisis".

After the implementation of the law, the number of Airbnb ( ABNB )

listings allowing stays under 30 nights has fallen 83%,

according to an August report by data analytics firm Airdna.

Airbnb ( ABNB ), citing data from Apartment List, said vacancy rates

for apartments in New York City have remained virtually

unchanged at 3.4% since the law took effect.

The company also said the cost of travel has increased.

Hotel rates in New York City were up 7.4% year-over-year in

July, compared with 2.1% across the U.S., according to data from

Co-Star, Airbnb ( ABNB ) said.

"By rolling back parts of the law, the city can increase the

supply of accommodations for consumers, support resident hosts

and revitalize local businesses that depend on tourism dollars,"

Airbnb ( ABNB ) added.

The New York City mayor's office and the Office of Special

Enforcement were not immediately available for comment.

Last year, a New York judge dismissed the company's lawsuit

against New York City over the local law.