Airbnb is dangling upfront tax cash and a temporary rollback of short-term rental restrictions to help Los Angeles close its budget gap before the 2028 Olympics. The city's largest TOT contributors... hotels... weren't even in the room when the deal was discussed.
LA is simultaneously trying to push hotel taxes past 20% for the Olympics while businesses collect signatures to kill the gross receipts tax entirely. If you operate in Southern California, the math on both sides of this fight is about to reshape your P&L in ways nobody at City Hall seems to have thought through.
The city just approved a $50M loan for a 700-room Marriott convention hotel that costs $543 million to build. The per-key math tells a story the press release doesn't.
