NANTUCKET, Mass. (AP) — Nantucket voters on Saturday rejected a proposal to limit short term rentals on the famous vacation island, opponents of the measure said.

The Alliance to Protect Nantucket’s Economy said the measure was defeated on a vote of 625 to 297 at Nantucket’s annual town meeting, held outside the island’s elementary school.

The proposal would have also made the minimum stay for a short-term rental on the island at least 7 consecutive days and limited the rentals to two people per bedroom and only one car, according to WBZ Radio.

ACK NOW argued that the proliferation of short-term rentals limits the amount of affordable housing available on the tiny island off Cape Cod favored by wealthy vacationers.

Opponents, including property owners, business owners and real estate professionals, touted a UMass study suggesting limits on short-term rentals would lead to more than 100,000 fewer visitors a year and millions of dollars in lost wages and tax revenue for the island of some 11,000 year-round residents.

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Shelter Island Does Not Need STR REGULATION - REPEAL THIS LAW!