(Bloomberg) — The bitter, multi-million dollar battle over home-sharing in Jersey City has come to an end — with Airbnb Inc. losing the fight. Early results — which need to be officially certified by the local county clerk’s office — show about 70% of residents voted to restrict home-sharing companies. The blow comes as the $31 billion tech juggernaut, which is preparing to go public next year, strives to resolve regulatory overhang around the U.S. Jersey City, a four-minute train ride from Manhattan, has become crucial territory for Airbnb as a popular and affordable lodging alternative to New York.
Search for Airbnb’s Big Loss In Jersey City Could Have Huge Consequences For The Company Nationwide on Bing
Olivia Carville / Bloomberg, Time: Business
Wed, 11/06/2019 - 8:50am
Topics: bloomberg early u.s apple&rsquo hotel trades council rules.&rdquo jersey&rsquo june mayor steven fulop ipo/investors.&rdquo airbnb the jersey steven fulop stevenfulop october breaking watch vote yes municipal question jerseyjournal insider__nj njdotcom thenjglobe keepourhomesjc november graeme zielinski ldquo;there jersey city airbnb york home fulop fulop ipo/investors to in keep our big residents spent million campaign statement year regulations millions tweeted push cities date fair results public local law video rentals short-term support rental neighborhoods economy care showed weeks signs
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