#Olympic Games

The number of reservations in Paris began to increase with the end of the Olympics

With the conclusion of the Olympic Games, which were hosted in France's capital, Paris, on August 11, tourism began to revive. Last-minute reservation increases in the city's hotels were particularly noteworthy. Despite a drop in reservations during June and July, hotels managed to raise their occupancy rates to 84% during the Games. Discounts and attractive incentives offered by hotel owners played a significant role in this increase. Some visitors canceled their previous reservations and rebooked at discounted rates. However, rooms were often rented at double the normal prices. To prevent revenue loss, hotel operators sold non-refundable rooms before the Games as a precaution. Additionally, demand is expected to rise for the Paralympic Games, which start on August 28. However, this last-minute surge could not prevent the summer season from being generally lackluster. Many tourists who did not attend the Olympics or Taylor Swift's concerts decided against visiting Paris due to high hotel and restaurant prices. Moreover, an increase in taxes on hotels and other accommodations in Paris earlier this year also negatively impacted tourism. Major airlines like Delta and Air France-KLM Group recently issued revenue warnings, highlighting Paris' poor performance during the Olympics. In early July, Air France-KLM Group noted a significant decline in interest in Paris in international markets. This decrease was partly due to French residents postponing their vacations until after the Olympics or making alternative travel plans. Travel between the city and other destinations was reported to be below the usual June-August average. Air France-KLM projected a loss of 160 million to 180 million euros in unit revenue for the June-August 2024 period. However, the airline stated that this would not affect its planned capacity. Visitor numbers dropped in restaurants and museums Although Paris hotels barely managed to close the season profitably due to the Olympics, tourist and cultural venues such as restaurants, museums, and shops faced significant sales declines. Major museums like the Louvre saw a 22% decrease in visitor numbers during the Olympics. While stores and restaurants near sports venues enjoyed higher sales, those farther from the city center experienced a loss of customers. In August, many Parisians also chose to leave the city, and the closure of areas around the Seine River for Olympic preparations led to a drop in revenue for restaurants and venues in the heart of Île de la Cité. 4o