07:00 AM EST, 11/18/2024 (MT Newswires) -- Airbnb ( ABNB ) urged Barcelona's mayor to reconsider a widening crackdown on short-term rentals, Reuters reported Monday, citing a letter by the company's head of policy for Spain and Portugal, Sara Rodrigues, to Mayor Jaume Collboni.

This comes after Collboni revealed a plan in June to shut all short-term rentals by 2028 to contain rising rents for residents, a move which is being challenged in courts.

The company argued that Barcelona's war on short-term rentals only benefits the hotel sector while failing to address overtourism and a housing crisis, adding that none of its earlier measures to impose strict limits on new tourist accommodation licenses in the city center since 2014 proved to be effective.

"Policies that address this issue are more likely to boost affordable housing supply than clamping down on Airbnb ( ABNB )," the company said in the letter seen by Reuters.

Airbnb ( ABNB ) did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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