Full disclosure: I just moved from the US to Stockholm.
Sounds more like the founders of a travel-related site got enamored with the travel lifestyle, culture, and all that goes with it in NYC. Much like a new CS grad thinks that the valley is the only possible place a startup can work, I imagine that the same holds for travel companies in NYC.
From what I've seen/learned so far (and a native Swede please correct me if I'm wrong) people here seem MUCH more likely to run a lifestyle type of business vs. one that chases VC funding.