A recent investigation by consumer website Que Choisir reveals a substantial increase in hotel prices in Paris for the night of July 26/27, coinciding with the anticipated opening ceremony of the 2024 Olympic Games. The study in late December focused on 80 three- and four-star hotels in Paris.
According to the findings, the average price for a room on the mentioned night has tripled, soaring to 1,033 euros. This surge starkly contrasts the average of 317 euros for the same rooms just two weeks before the event, representing almost a threefold increase.
Despite the hefty price hike of 226%, half of the surveyed hotels had already reached full occupancy or conveyed unavailability for the specified night of the opening ceremony. Notably, 30% of the hotels requiring reservations for at least 2 nights (some even up to 5 nights) seemed to adopt this strategy to maintain an average nightly rate of 391 euros.
With the Paris Tourist Office anticipating approximately 16 million visitors during the Olympic and Paralympic Games, there is an expected strain on all segments of the housing and hotel market in the Paris region.
In response to the escalating prices, Airbnb has encouraged Parisians to consider renting out their homes during the games, aiming to mitigate the impact on accommodation costs. The call from Airbnb aligns with efforts to provide more affordable options for the influx of visitors during this highly anticipated global sports event.
