paris hotel performance
Summer Olympics Drove Paris Room Rates to All-Time Highs
CoStar Group | August 21, 2024
WASHINGTON – 21 August 2024 – The Summer Olympic Games drove Paris hotel average daily rate (ADR) to an all-time high, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. The highest ADR was seen on opening night (Friday, 26 July) at EUR876.26, with the following four nights also registering room rates above EUR800. Room rates stayed above EUR700 for the remainder of the event period. Paris’ previous nightly ADR high (EUR622) was seen in June 2023. Revenue per available room (RevPAR) also reached a record high on the night of the opening...
Paris Market Pulse 2024 – Going for Gold
Maxime Gauthier | May 20, 2024
By Maxime Gauthier, Alexandra Dumoulin The City of Light enjoys a well-balanced blend of business and leisure demand resulting in both a broad seasonality and strong average rates. Since 2015, Paris has faced multiple challenges which highly disrupted hotel performances. As the city was recovering from the 2015-16 terrorist attacks, the ‘yellow vests’ movement and pension reform strikes of 2018-19, as well as the transportation strike of 2019, the COVID-19 pandemic hit the world. The market has since shown remarkable resilience and has gradually recovered, reaching record levels of RevPAR in 2023. Despite and throughout this tumultuou...
Paris Hotel Bookings Pacing Above 60% for Summer Olympic Period
Costar Group | April 16, 2024
WASHINGTON – 16 April 2024 – Paris hotel bookings for the 2024 Summer Olympics are pacing above 60%, according to CoStar’s latest Forward STAR data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. The 60% range for the event period (26 July – 11 August) is up from 50% three months ago. For context, the weeks leading up to the opening ceremony show occupancy on the books in just the 20% range. The current highest booking level (63.8%) in the host city is on Saturday, 27 July, the day of 14 gold medal events. Saturday, 3 August, the day of 28 gold medal event...
