Average prices for the week starting July 22 are coming in at $629 per night for a 4-star hotel, according to a Google search.
Paris is gearing up to host the Olympic Games in 2024, and its hotels will reap the benefits as hotel prices average more than 300 percent higher than normal.
The astronomical prices for summer 2024 are more than three-and-a-half times the typical summer rates, Bloomberg reported. In total, Paris expects more than 11 million visitors will trek to the city for the Olympic games, which kick off July 26, 2024, with only about 280,000 rooms available per day across the greater Paris region.
Average prices for the week starting July 22 are coming in at $629 per night for a 4-star hotel, according to a Google search. That is a significant increase from the historical average price per night for July of $145 to $378, the search engine noted. It’s even pricier for the week starting July 29 when a 4-star hotel averages $703 per night.
A luxury 5-star hotel for the week of July 22 is coming in at an average of $1,044 per night. While high, it’s a less dramatic increase compared to typical July prices which average as high as $736 per night, according to Google.
Rooms are also booking up quickly with 45 percent of rooms in Paris already reserved, Bloomberg noted. That’s faster than normal since only 3 percent of rooms are typically booked so far in advance.
The demand comes as Paris is battling a bed bug problem just nine months ahead of the Olympics. The creepy pests have been spotted at the Charles de Gaulle airport, on the Paris metro, on high-speed trains, and in more public spaces.
That said, Paris is preparing to host the Games across the city, including with swimming competitions in the Seine. The city will then open three official bathing sites in 2025, allowing people to swim in the famous river for the first time in more than 100 years.
For Americans, the historic Palais Brongniart, which once housed the Paris Stock Exchange, will be transformed into the Team USA House, which people who book an official hospitality and travel package can visit.
Source: travelandleisure