Paris Olympics News: Host City Faces Significant Surge in Hotel Occupancy With Only 171 Days Remaining For the Mega Games

Published 02/06/2024, 1:19 PM EST

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We can all hear the faint French bells ringing since it’s just 171 days to the marquee event, the Paris Olympics 2024. Starting July 26th, the mirth-filled event will extend till mid-August. As athletes will have a whole new vista of opportunity to bag medals, their families and friends can also have a good time touring around the historical landmarks around the bucolic and picturesque Paris.

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The French capital is getting dressed up beautifully with slight renovations here and there. Inarguably, this year’s Summer Games will be a once-in-a-lifetime show. But there’s a concerning factor that the hopeful Olympic spectators can’t escape.

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CoStar, the popular name in the property market that provides estate analytics, marketplaces has news to leave fans rethinking. CoStar’s data says that the hotel occupancy rate is seeing a 50% surge. More focus on the mid-August weekend (2-3), when the hotel occupancy is expected to go over 59.2%. Since July and August don’t fall under the ideal months’ list, tourists flock less. Last year, the hotel occupancy rate varied between 5.0% and 4.5%. 11th August 2024 will have a lesser rate with the average going below 50%. The reason? It’s the closing night, before which several athletes and families will head home. The Ile-de-France region is getting impacted more as the tension level is rising.

via Reuters

The luxury and upper-scale classes will see a surge of 8.7% and 72.7% respectively. This year, unlike the last Summer Games years, occupancy is affected more than the ADR (Average Daily Rate). August occupancy levels will be 9.1% more than last year. Besides the hotel-related information, more challenges are happening in and around the capital than meets the eye.

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Paris is girding up to welcome millions

The Grand Palais, which has never undergone a full renovation since its inception, will have major portions altered inside. The focus is on the glass ceilings and the nave. Before the opening ceremony rolls in, the administration body has some standards to set in terms of grandeur. Also, a host venue of the 2017 Tour de France’s last stop and the 2010 World Fencing Championships, Palais has much more in store this year.

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The spectator count has been reduced for the opening ceremony, and the previous terrorist attacks may be the reason. There’s increased security and police forces ramped up as well, to keep things in absolute control. Mr. Thierry Berthelot, the French Consulate General, has also shed light on the importance of keeping the infrastructure in check, if any situation like the COVID-19 turns up unexpectedly.

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Written by:

Agnijeeta Majumder

642Articles

One take at a time

With a passion for sports and an active lifestyle, I delved into the world of journalism and here I am creating insights on various avenues of the sporting realm. In my school years, I could often be found loitering about with a throw ball in hand or maybe engaging in a tough bout. My active participation in both traditional sports and hiking escapades has considerably shaped my mind and its thoughts.
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Edited by:

Himanshu Sridhar

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