Paris hotel prices in summer 2024 expected to increase 4-5 times

France Hotel prices in Paris this summer are around 169 euros but are expected to rise to 699 euros by July 2024.

Tourists heading to Paris in the summer of 2024 are facing rising hotel prices, especially during the Olympics, which will take place from July 26 to August 11. A report from the city's tourism office shows that the price of a night in the Paris metropolitan area is 169 euros in July, and is expected to quadruple to 699 euros by July 2024. "The increase is 366% for two-star hotels and 475% for three-star hotels," the report said.

The reason for the high prices is that 66% of hotels in Paris are not yet ready for guests to book rooms during the Olympics.

Paris in autumn. Photo: Parisperfect — Paris in autumn. Photo: *Parisperfect*

Paris deputy mayor Frederic Hocquard wants the Olympics to be a tourist draw for the city, but fears that high hotel prices will discourage many visitors. Hocquard predicts that if hotel prices continue to rise in Paris, tourists will choose to stay in nearby cities like Nantes, Lille or Rennes for €200 and take the train to Paris. "They will save money this way," the deputy mayor in charge of tourism and nightlife said on November 20.

Hocquard also pointed out that high room prices caused hotel occupancy rates to drop by 12% at the London Olympics. He said that instead of tripling room prices, they should increase them by 10-15%. If they continue to maintain high prices, hotels will cede this lucrative market to Airbnb.

In Paris, people are allowed to rent their homes on Airbnb for up to 120 days a year. The French parliament is expected to pass a law that would ban illegal rentals of homes to tourists and tax landlords if they do so. There are currently about 20,000 homes in Paris that are being rented out illegally to tourists.

Anh Minh (According to Reuters )

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