Russian senators have passed a bill on Wednesday banning hostels in residential buildings, sending the bill to President Vladimir Putin’s desk to be signed into law.

Hoteliers have warned that the ban could shutter up to 40 percent of hostels in Moscow and 80 percent in St. Petersburg, costing 16 billion rubles ($243 million) of losses in yearly tax revenue. NGOs had said that the ban could criminalize an estimated 10,000 apartment owners who rent out their properties on Airbnb in Moscow.

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