> though I'm still unsure how much of this is merely displacing hotels/hostels relative to actually sucking up long-term rental slots.
It very much is happening. Dublin saw this during the pandemic, when the long-term rent market doubled after tourism was shut down. These are houses that are zoned for residents, not people coming in, and landlords see they can easily make more money letting them out to the tourists.
See this article from The Irish Times about it: https://www.irishtimes.com/business/economy/pandemic-reveals...
It's only gotten worse now, too, with many going back to AirBnB.
