This week’s Industry News highlights the Ryder Cup’s impact on short-term rentals in New York, new rental regulations in Monterey and Austin, and what’s driving France’s record tourism season. Let’s dive in.
The 2025 Ryder Cup kicks off this weekend at Bethpage Black in Farmingdale, with local officials estimating $160 million in economic impact across Long Island, New York. For the week of the tournament, over $2.1 million in short-term rental revenue has been booked. According to AirDNA, average daily rates in Farmingdale and Babylon are up 145% compared to the same week last year. The three most expensive properties booked in Farmingdale were all marketed specifically to Ryder Cup visitors. These staggering numbers highlight the value of tracking and adjusting nightly rates for local events. Marketing your listing to attract event attendees can also help maximize occupancy and boost revenue during those peak demand periods.
Previously reported in Industry News on August 22, Monterey County has officially passed its new vacation rental ordinance. The Board of Supervisors approved ordinances banning commercial vacation rentals in Big Sur and Carmel Highlands, and limiting short-term rentals to only 4% of single-family homes in unincorporated areas. This change will force 37 rentals in Big Sur and many others in Carmel and Pebble Beach to shut down. Exceptions include hosted stays where the owner is present during the booking period and rentals that happen three times a year or less. The new permit requirements and regulations are set to take effect in October. Vacation rental owners operating in these areas should review these changes carefully to ensure they comply with the stricter regulations.
Skift reported this week on France’s record-breaking summer tourism season, driven by four key factors. Among the factors behind the surge were fewer overtourism headlines, as officials worked to promote regions beyond Paris and the Riviera, and a rise in American travelers, who now spend more than double the average domestic tourist at €140 ($164) per day. While final numbers are still being counted, French tourism is projected to contribute $312 billion to GDP, up 3% over last year and 10% above pre-pandemic levels, according to the World Travel and Tourism Council and Oxford Economics.
The City of Austin, Texas, is bringing a number of updates to its short-term rental regulations starting October 1st. Short-term rental licenses will now last two years instead of one, and owners must list a local contact who can quickly respond to any issues or complaints. The city will also send more license notifications to surrounding residents and is working to improve how it handles complaints. Other changes include new spacing rules between short-term rentals, limits on how many units can operate in multifamily buildings, and stricter platform requirements. Starting July 2026, listings must display license numbers, and listing platforms like Airbnb will be required to remove unregistered properties upon request by the city. City officials expect these changes to improve oversight and generate more tax revenue.
With big events and new rules shaping the market, expect continued changes across the vacation rental industry this fall. Check back next week for the latest news!
