2024 Olympics: Paris hotel prices are… falling

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With around 13.4 million French visitors expected for the Olympics, there will be many French tourists in Paris this summer. Although a large number of them come from Ile-de-France, others will have to stay put and possibly book a hotel room. Fortunately, the prices are not as high as one might fear.

The staging of the Summer Olympics in Paris has been the subject of heated debate for several months. Concerns include that price increases, especially for hotels. This prompted Tourism Minister Olivia Grégoire to announce an unprecedented inspection of hotel facilities on 6 December to regulate the exorbitant prices displayed by some between 26 July and 11 August 2024.

Statements that reflect several studies showing sharp rise in prices overnight stays during the Olympics. Last September, the Paris tourist office predicted that the average price would rise from €169 in July 2023 to €699 during the sporting event. While the UFC-Que Choisir consumer association estimated in a study published on December 27 that “the average price per night on July 26-27, 2024 would be €1,033, compared to €317 per night on July 12-13, an increase of 226%“.

Contrary to these alarmist projections, however, Kayak has been watching since the beginning of the year a decline in the expected price curve for the Olympicsvia the Olympic season price tracker, updated monthly, set up by the travel comparator.

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The price of a night in a hotel fell by more than 100 euros in one semester

Currently, most hotel booking sites use a revenue management technique that consists of changing prices according to customer demand. However, according to data recorded on its site, Kayak saw an 85% increase in hotel searches for the Olympics in January compared to December. However, that enthusiasm faded drastically in February, with searches increasing by less than 10%. This explains why the average price per night in a hotel classified between two and five stars has decreased since the beginning of the year, from €351 in January to €340 in March, after even falling to €328 in February. In October, the average price of a hotel room in Paris was… 447 euros.

Since then, the search curve for hotels in the capital has been slowly rising, rising by 7% in March. If this trend continues, further price increases can certainly be expected. It is therefore interesting for all those who want to go to Paris during the Olympic Games, not to delay in booking and take advantage of these relatively low prices.