As Situ highlighted in a blog post last summer, ‘Paris hosts both 2023 Rugby World Cup and 2024 Olympic Games’, it’s been stand-out period in the city for all things sporting. After the UEFA Champions League final in 2022 and the Rugby World Cup in September 2023, this summer sees France hosting the 2024 Summer Olympics. The Games begin on 26 July, with an opening ceremony on the River Seine, and last until 11 August.
With most of the events held in Paris, the population of the wider region is expected to exceed fifteen million for the two weeks. Those directly involved in the Games – sportspeople, coaches, organisers, and security – all need to be in central Paris near the main events. Spectators are likely to want to stay as near as possible too. So what does this mean for those sourcing corporate stays in Paris during this time?
Situ recently caught up with Chetan of Habitat Parisien
Going in search of answers, Situ recently caught up with Chetan of Habitat Parisien. With forty-six apartments in arrondissements one to nine, Habitat Parisien properties occupy prime locations in Paris. As a Situ partner they are well-placed to discuss the effect of the Paris Olympics on the corporate accommodation market. We are grateful to Chetan for taking the time to share the following insights.
We first put to Chetan the question we are all wondering about:
What are the current levels of availability in Paris?
Chetan notes that, unexpectedly, Paris itself has not reached 40% occupancy rate for the Olympic Games. This is far less than anticipated. The authorities have not required corporate accommodation providers to make rooms available to the public and so Habitat Parisien and other corporate accommodation providers have been proceeding as usual.
Chetan has seen some bookings come in early for corporate guests whose stay extends from early spring to late August. At present, however, Habitat Parisien still has plenty of availability as do its market peers – at least for the moment.
So why is there not more rush from the public to book well in advance? Chetan believes that the answer lies in pricing. The sharp rise in nightly accommodation prices during last year’s major sporting events had a dampening effect, as did the steep price increase when early batches of tickets were released.
Travellers should be aware though – availability is expected to change quickly as the Paris Olympics draw nearer. The general public may well turn to corporate accommodation providers with properties in close proximity to the Games for their stays.
So how high are rates?
Chetan remembers that when the first small batches of tickets to the Paris Olympic events were released, prices were extremely high. Even a one-bed apartment in the Paris suburbs cost 1500 to 2000 euros at this time. These prices were speculative since people didn’t know what the rates would settle at, yet guests were not deterred.
However, desiring not to exploit the circumstance, Habitat Parisien and other professional corporate accommodation providers made a plan. They decided to charge a rate of 250 to 350 euros per person, per night. This rate is specifically for those visiting Paris to see the Games and for those directly involved in them.
The higher end of this band is based on the general aspect and amenities of the property. This includes whether there are elevators and – most crucially in terms of price – air conditioning. This being a relative rarity in Paris accommodation, properties with air conditioning command a higher nightly rate.
The rate agreed by Habitat Parisien and others is calculated on the maximum capacity of the property in terms of number of bedrooms. Even if two people stay in a four-bed apartment, the rate for four people will still apply.
Does it matter when I book?
Chetan is keen to stress that should a corporate booking be made before the Paris Olympic Games and stretch until after they are finished, the above rate will not apply. Instead, the stay will be calculated using the usual global pricing.
A corporate booking made during the Olympic period would incur the higher nightly rate. However, Chetan is keen to point out that even in a normal period, a one-bed apartment in central Paris is around 200 euros a night. This makes the increased amount agreed by Habitat Parisien and others around 25% to 30% higher than usual.
Not everyone is taking such a down-to-earth approach, however. Some accommodation can still be found at 1500 euros a night for two guests.
What about increased inventory?
The Games are estimated to draw over fifteen million people to Paris. Airbnb expects properties booked on its platform to accommodate up to half a million guests.[i] With Paris itself only able to cater to a certain number of travellers, the remainder will be absorbed by the greater Paris area.
Natural market conditions will help with this. In the summer, Parisians often rent out their property during their own two-to-three-week vacation. This extra temporary inventory is expected to help make up some of the shortfall in supply around the suburbs of Paris during the Games, helping to keep prices more reasonable overall.
[i] Skift 26 September 2023. Original article by E. Pineau, Reuters.
Are stricter T&Cs likely?
As well as pricing, terms and conditions will be subject to change too. T&Cs at Habitat Parisien will be almost the same, except that the usual cancellation period of fifteen days will extend to thirty days. Chetan states that aparthotels do seem to have a far stricter cancellation policy, with some having a cancellation period of two months prior to arrival.
What about levels of service, will these be affected?
Housekeeping and maintenance should run as usual in professionally run corporate accommodation. Habitat Parisien’s properties are located near to metro stops, so housekeeping and maintenance teams will be able to get to and from properties. In addition, Chetan notes that Habitat Parisien has brought multiples of all essential items. These include washing machines, irons, and everything that may be required during this time. These are stored in a central location and can easily be transported to any Habitat Parisien property.
Chetan also points out that it will be possible to arrange guest transportation. For an additional fee, guests can be taken to Olympic venues outside the main city area.
Of course, there are also some mitigating actions that can be taken if you do need to stay in central Paris during the Olympic period. Flexibility in your travel dates can be an advantage. Slight adjustments can result in significant cost savings, as can booking accommodation further from the centre of the city.
We hope this short guide to booking corporate accommodation in Paris during the Games has been useful. Our thanks to Chetan and Habitat Parisien for shedding some light on the current situation and for offering foresight into the likely scenario during this year’s Olympic Games.
Need accommodation for the Paris Olympics? Do browse our carefully curated range of serviced accommodation in Paris. Get in touch with Situ’s team of accommodation specialists to discuss your stay.