If you’re planning to go watch the 2024 Olympic Games in Paris, you’d better start saving up right around *checks notes* now.
Staying in the French capital during the games—which begin on July 26, 2024—will cost you a lot more than usual, probably 300% more. According to Bloomberg, hotel prices in Paris for July 2024 are more than three-and-a-half times higher than usual summer rates right now, and if you’re thinking that booking early will do the trick, you’re actually already late.
Per the same report, with the city anticipating 11 million visitors and only 280,000 rooms available per day, 45% of rooms are already booked, which is a wild statistic to read, considering under normal circumstances only 3% of them are reserved almost one year in advance. Plus, prices are already sky-high as it is. According to Google Travel, four-star hotel prices for the Olympic Games week currently average around $600 per night.
If you’re looking to stay in Paris at a cheaper rate, choosing a vacation rental platform like Airbnb could potentially save you some coin. That will especially be the case should the number of available Airbnbs for that week increase. Airbnb is predicting that, during the 2024 Olympics, it will host up to half a million people in Paris, and the platform’s CEO, Brian Chesky, is now encouraging Parisians to put their homes up for rent during those days, Reuters reports.
“Surveys suggest as many as 20% of people in Paris are interested in hosting,” Chesky told Reuters. “If they put their (homes) on Airbnb and there is enough housing, prices will stay within reason. If not enough people put their homes on Airbnb and people don’t have enough […] hotels and they can’t build more hotels, that’s going to increase prices.”
Prices skyrocketing in the Olympics’ hosting town is not news, per se. According to a Santander report in 2012, that year hotel prices during the Olympic Games in London also rose by roughly 300%.