CoStar Experiences Resort Room Charges for the Paris Olympics Are Almost Six Occasions As Excessive Because the Regular Common

Paris’ highest reserving ranges fall through the weekend of 2-3 August, with each nights at 59.2%. Presently final yr, the comparable ranges for these nights had been 5.0% and 4.5%, respectively.

Paris’ resort occupancy on the books is already topping 50% for the 2024 Summer time Olympics, based on knowledge from CoStar.

Paris’ highest reserving ranges fall through the weekend of 2-3 August, with each nights at 59.2%. Presently final yr, the comparable ranges for these nights had been 5.0% and 4.5%, respectively.

The one Olympics date presently under 50% is Sunday, 11 August (46.4%), the evening of the closing ceremony.

Additionally of observe, the Olympics impression is mirrored in resort bookings throughout the whole Ile-de-France area. The very best ranges are seen on Saturday, 3 August (44.9%) and Sunday, 28 July (43.5%). When trying on the identical time final yr, bookings for these nights had been at simply 5.3% and three.9%, respectively.

Paris room charges are forecasted to leap considerably in July and August, particularly throughout the luxurious (+8.7%) and higher upscale (+72.7%) lessons. By way of month-to-month occupancy ranges, August is presently forecasted to surpass final yr’s comparables by 9.1%, whereas July is projected to fall 0.5% yr over yr.

As famous in our earlier Paris Olympics evaluation, earlier renditions of the Summer time Olympics have had a far larger impression on common each day charge (ADR) than occupancy.

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