A 2014 investigation by Eric Schneiderman, New York state's attorney general, found that nearly 40% of Airbnb’s $451 million in revenue, some $168 million in New York City alone, came from hosts who had at least three listings on the site. Data analyst Tom Slee plucked info from the Airbnb site in September and found that of the 30,268 listings in New York City, 44% of guest visits are to hosts with multiple properties. (Slee shared the latest information with the author via email. Here's an example of earlier research along the same lines.) These are not “regular New Yorkers” renting a spare room - not too many can afford to have control over multiple properties. They are professional operators who took on multiple leases in desirable locations. One of those operators, Robert “Toshi” Chan, was revealed to be the Airbnb “host” of more than 200 apartments in dozens of different buildings, known collectively as Hotel Toshi. Eventually, Toshi’s illegal operation was shut down, and he agreed to pay a $1 million settlement for not obtaining proper hotel permits or insurance. Get the full story at Business Insider