Wealthy Tourists Avoiding Paris Ahead of Olympics

SOURCE www.bnnbloomberg.ca
Wealthy tourists are avoiding Paris ahead of the Olympics due to concerns about navigating the city by car. High-end hotels are experiencing a significant drop in bookings, with occupancy rates as low as 15% for some July dates. Despite political upheaval in the country, tourists are not deterred and business is expected to recover as the Games progress.

Key Points

  • Bookings for high-end hotels in Paris down between 20% and 50% compared to last year
  • Occupancy rates at Plaza Athénée as low as 15% for some July dates
  • Tourists opting for other cities like French Riviera and London
  • Business expected to recover as the Games progress

Pros

  • Opportunity for other cities like French Riviera and London to attract tourists
  • Corporate sponsors booking rooms at high-end hotels for the Games

Cons

  • Significant drop in bookings at high-end hotels in Paris
  • Traffic concerns and security measures along the Seine River affecting tourism