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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!
