Surge in Accommodation for 2024 Summer Olympics in Paris

By Nithyakala Neelakandan

As the 2024 Summer Olympics in Paris approaches, the hospitality sector is experiencing a significant surge in demand for accommodations. Both Sojern and Amadeus have provided valuable insights into the trends and data surrounding this increased interest, highlighting the global excitement for the event and its impact on travel and lodging.

Airbnb has reported an astonishing 400% increase in bookings for the Paris region during the upcoming Summer Olympic and Paralympic Games. This surge reflects the heightened global interest in the event, with travelers from over 160 countries and regions already securing their stays in and around Paris. Additionally, the number of active Airbnb listings in the Paris region has grown by 40% as of March 31, significantly boosting the availability of accommodations for guests.

According to Amadeus’ Demand360+® business intelligence data, hotel occupancy rates in France are seeing notable increases. For the week of July 28, 2024, hotel occupancy rates are up 86% compared to the same week last year, and up 88% for the first week of August. In Paris, hotels are nearing full capacity with an occupancy rate of 81% for the week of July 28 and 76% for the week of August 4. These figures indicate that travelers planning last-minute trips may face challenges in securing accommodations.

The rise in accommodation demand is not limited to Paris. Lille, which will host basketball and handball events, is experiencing a dramatic increase in bookings. Visitor numbers to Lille are set to more than quadruple, with overall bookings up by 203% compared to last summer. This includes a 300% increase in domestic travelers and a 181% rise in international visitors.

Marseille and Bordeaux, hosting sailing and football events, respectively, are also seeing significant spikes in bookings. Both cities report a 38% increase in bookings, indicating that travelers are eager to explore beyond the capital city.

While international travelers flock to Paris, many Parisians are choosing to escape the city during the Olympics. Hotel bookings by Parisians traveling to other parts of France are up 49% during the Olympic season compared to 2023. Popular destinations for these staycations include Lille, Nice, Corsica, Lyon, and Toulouse. This trend offers hoteliers in these regions an opportunity to attract local tourists and capitalize on the increased demand.

Despite the surge in demand, the average daily rate (ADR) for hotels in Paris is down 13% at $724 USD, and down 7% at $616 USD for the rest of France, compared to an earlier analysis on April 1, 2024. This decline in ADR suggests that travelers might still find reasonably priced accommodations if they book early.

The 2024 Summer Olympics are not only bringing a global audience to Paris but also driving travel and accommodation demand across the country. Whether through traditional hotels or alternative accommodations like Airbnb, visitors are eager to be part of this historic event, as evident from the reports.