Paris Olympics: Soaring summer lodging prices reach new heights
Travelers hoping to tour Paris on a budget may find their hopes crushed by the harsh realities of the real economy as the 2024 Olympics approach. During the 2024 games, which are held from July 26 to August 11, lodging costs have increased. A January 2024 study from the Paris Tourist Office states that the average overnight tariff during the Olympic Games in Paris and the surrounding area is 522 euros (about $570 at the time of writing). That is more than three times the average nightly cost in August 2023 and around 2.5 times the average nightly rate in July 2023.
Olympic excitement and demand surge
Prices are significantly higher on some evenings. The average hotel overnight cost in Paris on the eve of the Olympic opening ceremony is 1,033 euros, or around $1,130, according to research by the nonprofit consumer advocacy group UFC-Que Choisir dated December 2023. That is a 226% increase over the previous week night’s average lodging prices. There are 10 million tickets available for the Olympic Games, so a large number of people are likely to descend on Paris. Hundreds of thousands of people are expected to throng the banks of the Seine for the Olympic opening ceremony alone.
The number of people expected in Paris during the Olympics is far more than the number of athletes, staff members, and spectators who are typically there. A study from the Paris Tourist Office states that the amount of foreign flight reservations made thus far for the dates of the Games is 116% more than it was for the same period in 2023. Not to mention the individuals who might drive or take the train to get to the city for the event.
Limited availability and increased competition
Vacation rentals are also witnessing sharp increases in supply and demand, in addition to hotel rates. According to vacation rental analytics business AirDNA, demand for short-term rentals during the Paris Olympics is 156% greater than demand for the two weeks leading up to the games. Additionally, prices have increased. According to AirDNA, there will be 40% more vacation rentals available during the Olympics than there were two weeks prior. It is true that when hotels try to fill empty rooms, accommodation prices usually decrease closer to the arrival date. That isn’t relevant, though, if the hotel is fully booked. Relying on a last-minute hotel deal is not advisable, especially in light of the anticipated crowds in Paris.
Pricing surge in popular areas
According to AirDNA, the average nightly fee for a vacation rental in the suburbs is $302, while the average nightly rate in Paris is $619. For those who would rather be in the thick of things, a 50% discount might not be worth it considering the time and effort spent commuting. However, it can make more sense financially as well as practically for some followers. In any case, a large number of the 35 Olympic sites are located outside of Paris.In parallel to its global Official Hospitality website, On Location, the official and exclusive hospitality provider for the Olympic and Paralympic Games, has established a global network of sub-distributors who have extensive local market knowledge and expertise in hospitality product marketing to support the delivery of its global sales and servicing strategy. This network will make sure that the greatest number of fans may enjoy once-in-a-lifetime hospitality at the Olympic Games in Paris in 2024.
Paris Olympics: Lodging prices and boycott concerns
While the Paris Olympics promise excitement, soaring lodging prices paint a bleak picture for budget-conscious travelers. Amidst concerns of racism, terrorism, and privacy violations, calls for boycotting the 2024 event echo loudly. The focus shifts from hospitality to security, raising doubts about the safety and inclusivity of hosting such a grand event in Paris.
Conclusion
In conclusion, The Official Paris 2024 Hospitality Program will serve as the foundation for special packages that the official sub-distributor network will craft, adding extra services to suit the particular requirements and quirks of each local market. Viewers of beach volleyball will be able to observe one of the most well-known sites in Paris. This is due to Champ de Mars, a sizable park that shares a boundary with the Eiffel Tower, being converted into a makeshift beach volleyball arena outside. With it, spectators will be able to get up close and personal with the well-known symbol that was constructed for the 1889 World’s Fair.
