Hotel prices in Paris are expected to treble, rising by 314pc between the summers of 2023 and 2024, according to a report by the Paris tourism office.
Paris’s deputy mayor for tourism and night life, Frederic Hocquard, expressed concerns about prices that remain as high as €700 per night.
The report criticized Paris hotels for delaying the opening of their booking platforms for the Olympic period, with 66pc still unavailable for booking.
In July 2023, a hotel night in the Paris region cost €169, but it is anticipated to rise to €699 euros in July 2024. The increase is even higher for two-star (366pc) and three-star (475pc) hotels.
The report suggests that visitors might seek alternative accommodations on platforms like Airbnb to save money, but the French Parliament plans to crack down on illegal renting of tourism homes.
Paris residents are currently permitted to rent their place on Airbnb for a maximum of 120 days a year, but many are violating this rule. The law project to address this issue is expected to be presented on November 28th.
Between 2021 and 2023, owners who illegally rented their homes were fined a total of €6.5m. The potential new law aims to tax owners who rent their homes.
