01:54 PM EDT, 06/21/2024 (MT Newswires) -- Airbnb ( ABNB ) could eventually be out of Barcelona before the end of 2028 after municipal officials said Friday they will not renew the licenses for more than 10,000 tourist rental locations.

In a statement, Barcelona Mayor Jaume Collboni said the decision will eliminate 10,101 tourist flats from short-term rents, currently available through third-party brokers like Airbnb ( ABNB ), as their licenses expire though November 2028. The city also won't grant new licenses, he said, in a bid to "guarantee the maximum number of flats are for residential use and not for tourism, boosting the city's housing stock."

Airbnb ( ABNB ) in Spain or San Francisco did not immediately respond to requests for comments by MT Newswires.

Regional authorities in the Spanish jurisdiction of Catalonia issued a decree in November 2023 allowing local officials to revoke the licenses for tourist flats over the next five years.

It's an approach taken by officials in other urban centers, perhaps most notably New York City, according to Morningstar.