Paris hotel

Paris Hotels Skyrocket Prices Ahead of 2024 Olympics

According to reports from local media, Paris hotels are witnessing a surge in booking requests as the Olympic Games set to take place from July 26 to August 14 next year draw nearer.

Taking advantage of this rising demand, some hotel managers in the capital have raised their room prices by up to tenfold for the duration of the event. As of now, 20% of the hotels in Paris have already reached full capacity for the dates covering the Olympics, with reservations being prepaid without any option for refunds.

Hotels in the capital which previously priced their rooms around 200 euros for the months of July-August have now set their rates to approximately 2,000 euros for the same period next year.

Significant price hikes have not only been recorded in the vicinity of Paris but also in coastal cities across the country. For instance, some hotels in Marseille have quadrupled their nightly rates during the event dates. Meanwhile, in Lyon, certain hotels have increased their room prices by up to seven times.

Many tourists have expressed their frustration and concern, arguing that such exorbitant rates will only make accommodations accessible to a specific segment of the population.

Investigations have revealed that hotel prices have been exorbitantly raised in all cities hosting the event. A study by Le Parisien newspaper also showed that accommodations on platforms like Airbnb have similarly seen dramatic increases. In 12 lodging facilities in Paris, the nightly room rate, inclusive of breakfast, for the dates of August 5-6 this year has risen by an average of 857% for the same dates next year.

Despite numerous complaints submitted to the relevant ministry due to these exorbitant prices, authorities have yet to provide an effective solution to the issue. (AA)

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