Paris hotels lower prices, minimum stay to attract Olympic travelers

(MENAFN) In a final attempt to attract travelers for the upcoming Olympics, Parisian hotel operators have significantly reduced prices and eliminated minimum stay requirements after facing backlash from tourists over perceived price hikes. On Monday, the Paris tourist office announced that the average nightly rate in hotels during the Games had dropped to 258 euros, down from 342 euros earlier in the summer.

This earlier rate represented a 70 percent increase from the average price of 202 euros in July 2023. Travel agents reported discounts ranging from 10 to 70 percent on corporate packages, as demand during the Games fell short of expectations due to elevated prices and security concerns. To draw in last-minute travelers, some hotels have lifted restrictions on arrival dates and length of stay.

Despite these efforts, travel agent Neil Corman from ProTravel International noted that while rules have relaxed, prices have not significantly decreased, with rates for nights in five-star hotels like Le Royal Monceau Raffles still hovering around 3,000 euros during the Games. Sebastien Bazin, the chief executive of hotel operator Accor, mentioned that the company could see a slight increase of half a percent in room revenue if tourists flock to Paris in the months following the Olympics. However, he maintained a cautious outlook in his forecast. 

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