Basically hotels are pressuring the city and politicians don't understand that more supply means prices don't get driven up as high by unsatisfied demand. That and crusty old guys get their noses bent out of shape when neighbourhoods have activity and life in them. Still too many old guys in politics and they are disproportionately the voters so this is reality for quite some time.
Buy with caution if you are investing in Airbnb. Canmore is a good market to review when it comes to how a town can tighten zoning regs. Also, I highly recommend buying at least a month membership to
AirDNA to understand Kelowna's seasonality, ADRs, ect. Well worth the $20. But, yes, to be thinking Airbnb in this market is the right idea, just make sure you onside with the town / condo corp's rules.