Unfortunately, I do believe the extra burden will lead to less construction and I worry that short-term stays will indeed become more expensive because of the lower supply of rooms.
In many parts of the city hotels have already outpaced other non-residential development. These regulations, on top of supporting union workers, just ensure that hotels don't take over too much of certain parts of the city. The biggest issue with AirBNB is that you have unregulated conversion of residential property into short term hotels, which impacts long term residents living in the city. A hotel shortage mostly impacts tourism, which is already booming in the city and is a less critical issue for NYC residents.
Graduating STEM master's student going into tech firm.
You mentioned in another comment how the H1B lottery leads to ~30% chance of getting selected each year. Do you have an estimate for candidates with advanced degrees (master's, specifically)?
Also, there seem to be a lot of potential changes to the whole OPT -> H1B -> ... path. Some comments, like this one [1] from an immigration attorney, suggest the STEM extension might disappear (so fewer shots at the lottery), but also suggest petitions for highly paid workers might be given priority. Do you feel positive about the chances of highly paid workers to obtain H1Bs in the coming years?
For those with advanced degrees from U.S. schools, the odds could be 80% or higher. And the trend is definitely favoring higher skilled, higher paid workers.
Unfortunately, I do believe the extra burden will lead to less construction and I worry that short-term stays will indeed become more expensive because of the lower supply of rooms.