Hotel prices tripled: how the Olympics affected the tourism sector in Paris
France is preparing to host the Summer Olympic and Paralympic Games in Paris, which will run from July 26 to August 11. According to the Paris Tourist Office, the housing and hotel markets will experience significant pressure during the Olympic Games. It is expected that around 16 million people and 10,500 athletes will visit the city during this time.
Given the rapid tourist demand during these days, local hotels have rapidly raised room rates to exorbitant levels. The Daily Mail reported that the average room rate was tripled. This is evidenced by the results of a survey conducted by UFC-Que Choisir, which involved 80 four-star hotels in Paris.
Thus, for a double room on the opening night, you will have to pay an average of USD 1130 or EUR 1033. At the same time, only two weeks earlier, on the night of July 12, a similar room would cost an average of USD 346 or EUR 317.
At the same time, given the rush, 30% of hotels were forced to set their own minimum stay requirements. Thus, travelers must book a room for at least 2 nights, and some insist on booking up to 5 nights.
However, the high cost of travel has not forced travelers to rethink their itinerary. Currently, hotels are experiencing high demand for accommodation during the games, and half of the surveyed hotels report full bookings during this period.