metropolis

Paris hotels cut prices during Olympics

Vaseline 3 months ago

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IN FOCUS

With the Paris Olympics in full swing, hotel operators are cutting prices and removing minimum stay requirements after the expected high demand failed to meet expectations. The Paris Tourist Office reports a drop in average hotel prices, with visitors offered discounts due to reduced occupancy and safety concerns.

Devdiscourse News Desk

Updated: 2024-07-30 23:30 IST | Created: 2024-07-30 23:30 IST

As the Olympics take place in Paris, hoteliers are making a concerted effort to attract last-minute travelers by slashing prices and removing minimum stay requirements. The move, previously seen as excessive pricing, comes after some potential visitors decided to skip the trip due to the high cost.

According to the Paris tourist office, average hotel prices during the Olympics have fallen to 258 euros per night, from a peak of 342 euros earlier in the summer. Travel agents report that visitors can get discounts of 10% to 70%, driven by lower-than-expected demand and security concerns.

KAYAK’s hotel price analysis shows a 16% drop in July compared to June, while Hotel Planner sees a 66% drop for four-star hotels. “The hospitality industry has learned a crucial lesson about overpricing during major events,” said Tim Hentschel, CEO of Hotel Planner. Despite adjustments, luxury hotels are still charging high prices.

(With input from agencies.)

Vaseline

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