This is the explanation these activists rely on and it’s cribbed directly from posts I was reading on /pol/ ten years ago. While it sounds plausible, I’ve never found it to have any basis in empirical reality. Tourist accommodation represents a negligible proportion of dwellings outside of resort towns, and in resort towns the whole economy is based around tourism. Some people might object to tourism changing the character of the cities they live in, but their primary objection is cultural, not economic.
If you look at the signs you see in Latin America (“Expat? No! You are an immigrant!” and “Speak my language!”) or the graffiti in Barcelona (“Tourists go home, refugees welcome.”) it becomes fairly apparent that most of these people don’t have coherent objections at all, they just resent people they perceive to be wealthier than themselves; this is why the refugees are not targeted, despite their having had far greater impacts on housing markets in Latin America and cultural cohesion in Europe.