HOTELS magazine’s Post

Paris 2024 Olympics | Hotel Reservations close to 80% A month before the start of the Summer Olympic Games in Paris, according to the latest data provided by CoStar, leading company specialist in analysis and information in the real estate markets, hotel bookings for the major quadrennial sporting event are close to 80%. This trajectory of growth in occupancy on the books has accelerated substantially in recent months, taking into account that booking levels in February were 50% and in April they were just over 60%. Data recorded starting from June 17 have revealed a surge with a peak of 77.8% tied to the day Saturday 27 July, an evening in which there will be 14 events of considerable importance awarding Olympic medals. The opening night is in second position with an occupancy of 77.7% for Friday 26 July. Additional data informs that compared to the same period in 2023 the booking levels for the Paris Olympic Games for those evenings were 47.7% and 47.5% respectively. The lowest occupancy in terms of percentage indexes is currently the August 11, corresponding to the last act of the competition with 59.8%. The impact of the Olympics is also reflected in booking levels throughout the Île-de-France region,with the highest occupancy on the book (75.1%) on Saturday 3 August, an evening that will be protagonist of 28 events that will award medals while the day with the lowest occupancy on the books is on Sunday 11 August which currently marks a percentage index of 58.9%. Link : https://lnkd.in/gV2xAH4k

Paris Olympics: Last Minute Hotel Availability Guide Tim Hentschel, CEO of HotelPlanner, a leading travel-technology company says that inflated Paris prices (exceeding €700 /USD 750), have been created by organizers who’ve “block[ed] rooms for athletes, officials, and sponsors well in advance, limiting public availability. Hotel revenue management systems, relying on algorithms to predict demand and adjust prices, interpret this limited inventory as highly desirable and inflate rates. This creates a vicious cycle. High prices deter potential attendees, reducing overall demand. Hotels then risk having empty rooms despite inflated prices, unable to attract last-minute guests.” This appears to be the current situation in Paris as the event opens. So this could be good news for anyone wanting to book a last-minute trip to Paris. https://lnkd.in/eK7dSEA3

Decline in Paris Hotel Bookings During 2024 Olympics Surprises Analysts** Despite the high expectations for a surge in tourism during the 2024 Summer Olympics, Paris is experiencing an unexpected decline in hotel bookings. The Olympics, set to begin on July 26, 2024, were anticipated to draw a massive influx of international visitors, boosting the city’s hospitality industry. However, several factors have contributed to this unforeseen downturn. Paris, one of the most iconic tourist destinations in the world, is witnessing a decline in hotel bookings during the 2024 Summer Olympics. Contrary to the anticipated high demand due to the influx of visitors for the Games, multiple reasons are driving this unusual trend. Hotel prices in Paris have surged dramatically, with average rates more than 300% higher than usual for the summer of 2024. A typical 4-star hotel room, which usually costs between $145 and $378 per night, is now priced around $629 per night for the week starting July 22, 2024. This sharp increase in prices is likely deterring some potential visitors. Additionally, officials predict that many hotel rooms will remain unoccupied. Corinne Menegaux, director-general of Paris je t’aime, stated that the expected hotel occupancy rate during the Olympics is between 60% and 70%, compared to the usual 90.7% occupancy in July 2023. This indicates that in a typical 300-room hotel, up to 120 rooms could be empty during the Games. Another significant factor is the high local and regional attendance expected. Many visitors will come from nearby areas, reducing the need for hotel stays in Paris itself. High-speed trains make day trips feasible from cities like Lyon, Strasbourg, and Bordeaux, further diminishing hotel demand in the capital. Despite extensive preparations across the city, the combination of exorbitant hotel prices and the predominance of local visitors is leading to a decline in hotel bookings during this major event. # Thank you Sofia Alvarez for your submission!

As we eagerly anticipate the Queensland Government's report on hotel room demand, it's becoming increasingly evident: City of Moreton Bay is poised to become Australia's next hotel hotspot! With demand for more than 1,500 rooms right now, and the 2032 Olympic and Paralympic Games fast approaching, the timing couldn't be more perfect for hotel developers. The growth trajectory of City of Moreton Bay is undeniable, with growing population figures, a steady rise in tourism, and an expanding array of local services. All signs point to a thriving market for hotel developers. #CityofMoretonBay #InvestMoretonBay #HotelDevelopment #SEQ https://lnkd.in/g5CxTi8n

2024 in the Moscow hotel market is notable for the fact that owners are opening a whole cohort of new hotels. According to the Commonwealth Partnership, up to nine new hotels with a total of 1,180 rooms may open in Moscow in 2024. Something unheard of in recent years! The city hasn’t remembered anything like this since 2017, when hotels opened at a rapid pace for the 2018 FIFA World Cup. Up to 60% of the new room stock in Moscow this year will be represented by 4* hotels. Among the new projects expected in 2024:* Ex-HGI Moscow Paveletsky 4* - 234 rooms.* DoubleTree by Hilton Moscow Arbat 4* - 100 rooms (already opened).* Stella Di Mosca 5* (Ex. Bvlgari hotel) 5* - 65 rooms (also opened at the end of March).* Hotel "Russia" (next to Zaryadye Park) 5* - 156 rooms.* Cosmos Smart Moscow Semenovskaya 3* - 120 rooms. The prospective interest of investors and developers in Russia is focused on the regional tourist destinations of Anapa, Kamchatka, Altai), ski resorts, but not city hotels. Thus, in Anapa (a resort town on the Black Sea), nine hotels with 6,900 rooms are expected to open in 2024–2028. DMC www.ets-russiatravel.com

What are the biggest hotels in Mexico, and what do they have to offer? Check out my latest report in TravelAge West

The Sunshine Coast has an eye on the upcoming Brisbane 2032 Olympics and Paralympics as it looks to attract more luxury hotel brands to the region. Sunshine Coast Council Mayor Rosanna Natoli said the area needed to encourage and incentivise the development of four- and five-star hotels. Mayor Natoli said four-star hotels currently accounted for 34 percent of the region’s accommodation, with five-star offerings making up only one percent. She said the right mix of accommodation was important to capitalise on the Brisbane 2032 Olympic and Paralympic Games. “The Games are now only eight years away and we are working hard to see more legacy opportunities and benefits come to our region,” Mayor Natoli said. “Ensuring we can provide accommodation options for the influx of competitors, support staff and spectators is necessary to deliver a successful Games and importantly, these hotels will continue to support our region’s economy long after the Games have ended. “And while we wait for the throngs of Olympic visitors to hit our shores, our community can enjoy the benefits such as new restaurants and roof top bars.” Mayor Natoli said Council had recently approved a new Accommodation Hotel Incentives Strategic Policy, to encourage the development of upscale hotels. Visit Sunshine Coast CEO Matt Stoeckel said the main barrier to encouraging thousands more international leisure travellers was the lack of globally recognised four- or five-star hotels. “For the year ending March 2024, our region attracted 4.2 million domestic and 311,000 international visitors, who stayed a total of 19.5 million room nights,” Mr Stoeckel said. “What’s more, the Sunshine Coast has huge potential to grow its business, conference and leisure markets if there is greater investment in new and renovated quality hotel developments.” Read the full list of incentives 👇 https://lnkd.in/gVPpeYWw #sunshinecoast #accommodation #hotels #brisbane2032 Sign-up to the free biweekly Newsreel newsletter: https://lnkd.in/gDGxznVv #newsreel

As travel rebounds, how can hoteliers set themselves apart among the multitude of #hotels?🏨🚀 To distinguish themselves with unique #hotelamenities, guests now seek #luxury #experiences that seamlessly integrate technology, such as #golf #simulator projectors and indoor sets, appealing to players of all levels for a fresh approach to honing their skills.⛳️ Integrating #golfsimulators and indoor sets into hotel amenities boosts growth by attracting high-value guests, raising occupancy rates, and increasing revenue.They enhance luxury experiences, complement spas, and optimize space efficiently without renovations. Empower your hotel amenities with BenQ Golf Simulator Projectors💪🏼✨ https://bit.ly/3WwpkkN

The Summer Olympics won gold for French hotels 🥇 Paris hotel average daily room rates (ADR) hit an all-time high, according to data from CoStar Group The highest ADR was seen on opening night (Friday, 26 July) at EUR876.26, with the following four nights also registering room rates above EUR800. Room rates stayed above EUR700 for the remainder of the event period. Paris’ previous nightly ADR high (EUR622) was seen in June 2023. Revenue per available room (RevPAR) also reached a record high on the night of the opening ceremony with a 179.3% increase to EUR765.85. “Paris hotels saw a year-over-year room rate increase of 141% and RevPAR growth of 200% during the Olympic event period,” said Samantha Mardkhah, STR’s regional manager for Southern and Western Europe. The event also had a halo effect for hotels in other regions with Marseille seeing occupancy rates hit 83% in July and Lille seeing an 82% lift in occupancy. #hotels #hospitality