New York’s new law is ‘a big boost in the arm for the business,’ the hotel company’s CEO said. A recently signed bill in New York that imposes steep fines for advertising illegal short-term rentals is pitting Airbnb against a company that operates four hotels in New York City.

Last week, LaSalle Hotel Properties CEO Michael Barnello told investors that the law would be “a big boost in the arm for the business, certainly in terms of the pricing” if signed into law, according to transcript of the call. A week later, the company’s CFO, Kenneth Fuller, clarified the company’s position, stating that “it’s not about price or competition, it’s about a level playing field. It’s about the fact that these have been illegal hotels, essentially,” he told New York City-centric blog Gothamist on Thursday.

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