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Paris Olympics Expects Over 11 Million Visitors, Straining Hotel Availability

With the highly anticipated Paris Olympics just around the corner, the city is bracing itself for an influx of more than 11 million visitors. Out of this staggering number, 3.3 million individuals will be travelling from outside the greater Paris region or internationally, inevitably requiring accommodations. The Paris tourism office has revealed that approximately 280,000 rooms are available per day across the wider Paris region to cater to these demands.

As the demand for accommodations rises, so do the prices, but not all consumers will face the same magnitude of inflation. Luxury consumers will be relieved to hear that five-star hotels are experiencing relatively smaller price spikes compared to their more affordable counterparts. A typical stay in a five-star hotel during these games would cost around $1,607 per night, whereas a stay in July would cost a much lower $625. However, it is important to note that for the same price, the size of the room has also been reduced. While the luxurious Demeure Montaigne offers a 20-square-meter room with a view of the enchanting Eiffel Tower, the more modest Hotel Mogador provides a smaller 16-square-meter room with charming exposed wooden beams but fewer amenities.

For those seeking more budget-friendly accommodation options, the reality of the situation may come as a disappointment. “More affordable” hotels, as mentioned by a spokesperson from Expedia Group, are demanding prices that are typically associated with luxury hotels, ranging between $500 and $600. This serves as a clear indication of the high demand and limited availability during the Olympic period. The spokesperson from Expedia Group advises travelers to plan their accommodations well in advance to secure their desired hotels before availability becomes scarce.

The urgency to secure accommodations is further emphasized by the fact that 45% of rooms in Paris have already been reserved for the Olympic period, according to MKG, a tourism research firm. This is an astounding increase when compared to the usual 3% of rooms that are booked a year in advance. The trend is clear – time is of the essence.

In a bid to maximize profits, some hotels may choose not to list all of their rooms for reservations. By doing so, they hope to capitalize on higher prices closer to the opening ceremony. It should be noted that some hotels might feel that rates for delegations, negotiated years ago with Olympic officials and not accounting for current inflation, put them at a disadvantage. As a result, hotels are left in a difficult position and may resort to imposing higher prices later for the general public, warns Vanguelis Panayotis, CEO of MKG.

With the Paris Olympics just around the corner, it is evident that finding suitable accommodation may prove to be a challenging task. As the city gears up to welcome millions of visitors, it is crucial for travelers to plan ahead and secure their desired accommodations promptly. Otherwise, they may find themselves struggling to find a place to stay amidst the excitement and grandeur of the Olympic Games.