In the Midst of Olympics 2024, Paris Hotels are Begging for Guests

Paris Olympics 2024 is running with full vigour as all countries in the world flock to France to participate and win medals. With such an event, everyone would assume the entire world would be in Paris, too, right, witnessing this history being made? Add this to the fact that France was the world's most visited destination in 2023 with more than 100 million arrivals. One would assume this means fights over hotel bookings, crowded public spaces, hiked airfares etc. Well, the expectation does not really match the reality, as the hospitality sector in Paris is resorting to major price cuts to lure people to the city.

No Guests in Paris

According to the Paris Tourist Office, many hotels in the city have reduced their prices to €258 per night instead of €342 per night, as recorded in Paris earlier this summer. Travel agents claim that some operators and hotels are offering discounts ranging from 10% to as high as 70% to lure in as many customers as possible to keep the shop open. Various hotels are also providing added benefits like on-site arrivals, extending stay requirements and more to attract guests.

Tim Hentschel, CEO, Hotel Planner, stated that “the hospitality industry in France and worldwide has undoubtedly been taught a lesson against price-gouging when looking to capitalise on major events.” The price of the same hotel rooms was around €202 in the summer of last year, but was increased due to the expected demand during the Paris Olympics. However, with such high rates, travellers decided against going to Paris at all. The reason for the lack of guests in Paris, despite the ongoing world games, is said to be expensive tourism and increased security concerns in the area.

The news does not come as a surprise, though. Air France, the national carrier of France, had already stated in the beginning of July that it is preparing itself for a blow of €180 million as tourists plan to avoid Paris due to the upcoming Olympics. Even data from Lighthouse, a hotel market analyst, showcased a continuous reduction in the room rates in Paris from an average of over €800 last September to below €500 in April.

The only sliver of hope, amidst it all, for Paris seems to be the record number of Indians travelling to the European city to watch the Games live. According to Atlys, an online visa application platform, France saw a 60% surge in its visa applications from India because of the Olympics. If you are one of them and are travelling to Paris, here is our recommendation list for you.