More supply is crucial but efforts to reduce demand in the mean time probably won't hurt either. If tourists can stay in hotels and hostels that take up less housing that seems good?
But you still need to build more housing obviously
I don't think dramatically, because the issue right now is that residential housing can be used for short-term commercial accomodation. It feels like the connection between these supply & demand curves is limited.
But you still need to build more housing obviously