The Summer Olympics have driven the average daily price for hotels in Paris to an all-time high, according to data from CoStar, a leading provider of online real estate marketplaces, information and analytics on the real estate markets.
The highest ADR was recorded on opening night (Friday 26 July) at EUR 876.26, with the following four nights also recording room rates above EUR 800. For the rest of the event period, room rates remained above EUR 700. The previous nightly ADR peak in Paris (EUR 622) was reached in June 2023.
Revenue per available room (RevPAR) also reached a record level on the evening of the opening ceremony: it rose by 179.3 percent to 765.85 euros.
“Paris hotels saw room rates increase by 141% and RevPAR increase by 200% year-on-year during the Olympics,” said Samantha Mardkhah, STR’s Southern and Western Europe regional manager. “For comparison, ADR and RevPAR growth far exceeded that of the 2012 London Olympics. At the same time, occupancy in Paris increased by 24.1%, a smaller increase than in London. However, this was to be expected due to the displaced ‘normal’ demand – such as international arrivals, domestic travel and group travel.”
The Olympic Games also had a significant impact on the Île-de-France region. Similar to Paris, the region recorded its highest daily occupancy (79.7%) on the evening of the 28 Gold Medal events (3 August), an increase of 43.1% year-on-year. Île-de-France’s highest ADR was recorded on opening night (+133.0% to EUR 281.90), while the highest RevPAR value on the market was recorded on Thursday, 1 August (+197.5% to EUR 219.33).
“In hindsight, the anticipated panic that Paris would be overcrowded during the Olympics quickly dissipated, perhaps in favor of other French markets such as Marseille, where occupancy reached as high as 83%,” said Mardkhah. “Lille saw an 82% increase in occupancy and averaged 70% during the Olympics, resulting in a 147% increase in RevPAR. Now we look ahead to the Paralympics, with hotel bookings in Paris currently averaging 49.7%.” For more information about the company and its products and services, visit www.costargroup.com.
