Olympic Games in Paris: Rooms still available – Paris hotels are reducing prices

Olympic Games in Paris: Rooms still available – Paris hotels are reducing prices

Hotels and private landlords demanded astronomical prices in the run-up to the Olympic Games in Paris. Because there are no bookings, prices are now falling and visitors to the games still have a choice.

In the run-up to the Olympic Games in Paris this summer, hotels drastically increased their room prices and many residents hoped for a big deal by renting out their private apartments. Two and a half months before the start of the games, however, disillusionment is spreading, many hotels and private landlords are still waiting for bookings and prices are beginning to fall noticeably. While the average price for an overnight stay in a hotel was 699 euros several months ago, it has now fallen to 411 euros, the Paris tourist office announced on Monday. For comparison: In July 2023 the average price was 202 euros and in August 2023 it was 161 euros.

According to the tourism office, the occupancy rate for hotels and private accommodation during the Olympic Games is currently between 56.3 and 75.9 percent, while in July 2019 it was 58.4 percent. During the Paralympic Games organized afterwards, the occupancy rate is between 47.3 and 57 percent, while in September 2019 it was 41.4 percent. It is clear that even people who are only now considering visiting the Olympic Games can still find plenty of accommodation available – and at rates that are significantly lower than those charged a few months ago.

The expectation of making good money by renting out her two-room apartment in Paris did not work out, 29-year-old Chloé told the France Info broadcaster a few days ago. She asked for 300 euros per night, twice as much as usual when she rents out her apartment from time to time. But there was no request whatsoever, not even when she lowered the price in stages to 180 euros. “I have many friends who have had the same experience.”

“There is no demand. Not for crazy prices”

The retired couple Valérie and Vincent, who wanted to rent out their 100 square meter apartment near the Eiffel Tower for 3,000 euros a night, also expressed their disappointment to the broadcaster. “We were told about a golden goose and prices that would skyrocket and that it was an opportunity that only came along once in a hundred years.” But there were no inquiries, even when the two halved the price. “The price is still very high and there is no demand. Not for crazy prices.”

It was to be expected that the occupancy of the hotels would remain within the normal range and that room prices would fall, said the President of the Hotel and Restaurant Association (Umih) in the greater Paris area, Franck Delvaux, to the broadcaster France 3. Many foreign tourists who are not interested interested in the Olympic Games would not be coming to Paris this summer. And many of the expected Olympic spectators are French, who can often stay in the greater Paris area through relatives or acquaintances or who can commute to Paris themselves for a day. Delvaux is sure that the Olympic Games would still pay off for Paris hotels, as many tourists would then want to visit the city.

Source: Stern

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