Amsterdam police found a dead body and a large caché of drugs during the inspection of an illegal hotel on the Nassaukade on Thursday.
The drugs are thought to be cocaine.
One man tried to escape through the back door and was arrested. A second man got away, the police say.
Amsterdam is cracking down on illegal hotels. House owners are allowed to rent out their property to tourists, but not for longer than 60 days a year and to no more than four people.
Last year, 66 illegal hotels in the city centre were closed down.
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