Olympic Night will see exorbitant hotel prices in Paris

Saturday, January 6, 2024

As the Olympic Games for 2024 draw near, hotels in Paris decide to increase their rates. The hotel rates will surge exponentially during opening night for Olympic games in Paris.

Hotels in Paris that are profiting heavily due to the influx of tourists have been anticipating the Olympics. Hotel room rates are expected to rise threefold on average over regular rates for the first night of the games.

This abrupt price hike raises questions about accessibility and affordability for those who want to watch the Olympics. Given the outrageous costs, a lot of prospective attendees—especially those on a tight budget—might find it challenging to find lodging in the city during this time. The study’s findings highlight the challenges that tourists have to contend with when trying to book reasonably priced accommodations in well-known tourist destinations in the midst of important events.

According to UFC-Que Choisir, a poll carried out in late December among 80 hotels with three and four stars showed that the median price of a double room on July 26, the day of the Olympic opening ceremony on the banks of the Seine River, will be higher than usual, almost surging it to be the highest. 

Some experts have addressed these findings by advocating curbs on hotel rates during the Olympics in order to prevent visitors from being taken by scams. They claim that although it makes practical sense for hotels to modify their rates in response to demand, severe price hikes could damage Paris’ reputation as a hospitable and easy-going tourist destination.

It was also said that 50% of these hotels were reported to be fully reserved by that evening, and 30% of these hotels necessitated a minimum reservation of at least two nights, and some as much as five nights.

16 million tourists are expected to arrive in the Paris vicinity during the Olympics and Paralympics, putting strain on the real estate and lodging markets at all price points. 

Airbnb has asked Parisians to list their homes for rent during the games in an effort to reduce expenses.

Thousands of migrants, refugees, and Roma residing in vacant properties in the Seine-Saint-Denis neighbourhood north of Paris have been compelled to leave, exacerbating the city’s refugee crisis.

[Image Source: News18]

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