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Why Paris 2024 will not be the goose that lays the golden eggs hoped for by tourism stakeholders

2024-02-27T19:43:31.656Z

Highlights: Hoteliers who hoped to multiply their rates four or five times during the Olympics are gradually coming back down to earth. Some fans have broken the bank for a while to be there and find accommodation. But there are still places left for the opening ceremony today and Parisian accommodations are far from full. If their prices have soared, it is because hoteliers and apartment rentals by the night or the week were banking on a windfall effect that never came to pass. This article is reserved for subscribers. You have 88% left to discover.


DECRYPTION - Hoteliers who hoped to multiply their rates four or five times during the Olympics are gradually coming back down to earth.


“Of course there is going to be a big slowdown in tourism during the Olympic Games,”

says Stéphane Manigold, president of Umih Grand Paris, the largest professional union of restaurateurs and hoteliers in the region.

Before and during, there will be fewer people.

But the months and years that follow could be extraordinary.”

The exorbitant prices charged for certain hotel rooms and seasonal rentals since the start of the September school year suggested that demand for attending the world's biggest sporting event would reach a stratospheric level.

Wrongly.

Certainly, some fans have broken the bank for a while to be there and find accommodation.

But there are still places left for the opening ceremony today and Parisian accommodations are far from full.

Read alsoParis 2024: towards an unlimited surge in rental and hotel prices during the Olympics?

If their prices have soared, it is because hoteliers and apartment rentals by the night or the week were banking on a windfall effect that never came to pass…

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Source: lefigaro

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