To put this in perspective, one of the most prominent illegal residental-building-to-hotel conversions that was originally causing problems for residents was called the Marriott ExecuStay[1] and was owned by a small-time hotel chain called Marriott International. The entrenched industries were already taking advantage of the lax regulations and enforcement.

[1] http://thevillager.com/villager_199/astouristfillillegal.htm...