• Loading stock data...
Saturday, December 14, 2024

Paris Olympics Problems Continue With Price-Gouging Claims

  • Average room prices expected to more than triple for upcoming Games.
  • Ripple effects also extend to local Airbnb economy.
Oct 22, 2022; Paris, FRANCE; General view the Eiffel Tower and the Seine river, as seen from Pont Alexandre III in advance of the Paris 2024 Summer Olympic Games. The bridge will serve as the site for triathlon, open water swim and road cycling.
Jerry Lai-USA TODAY Sports

The troubled runup to next year’s Paris Olympics has spread to a new sector: hotel prices.

A new report from Paris tourism showed that hotel prices will rise 314% between the summer of 2023 and next summer’s Games, somewhat similar to price hikes seen for prior Olympics and World Cups. Average prices are projected to rise from $185 per night to $765.

The increases were even steeper for better accommodations, with average prices rising 475% for three-star hotels.

“We want popular Games, but it can’t be popular Games at 700 euros a night,” Frederic Hocquard, Paris’ deputy mayor for tourism and nightlife, told Reuters. “You can’t triple the price of the rooms. Maybe you can allow a 10, 15% increase, but tripling the prices won’t work.”

The lodging issue follows several months of conflict for the Paris Olympics and its organizers, including local rioting, budget concerns, bed-bug infestations, serious corruption allegations, and controversy over alcohol restrictions — plus issues surrounding high ticket prices, ambitious event logistics, and the city’s planned treatment of its homeless during the Games.

Local officials also expect many fans to commute into Paris from various surrounding towns due to the hotel prices.

Airbnb Issues

Hocquard said the hotel price increases also will help “feed the Airbnb beast.” But the French government is expected to impose a series of new sanctions to help control that market.

Among the anticipated measures will be a new taxation structure on owners who rent their homes and heightened enforcement on the city’s 120-day-limit per year for residents renting their properties.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 9, 2023; Las Vegas, Nevada, USA; Los Angeles Lakers forward LeBron James (23) hoists the NBA Cup and celebrates with teammates after winning the NBA In-Season Tournament Championship game against the Indiana Pacers at T-Mobile Arena.

NBA Cup Year 2: Tweaks, Schedule Concerns, and Growing Pains

While Vegas has been the event’s location for the last two years, that could change because the NBA may add an expansion team in Sin City.

Mets: Not Concerned About Lower-Revenue Clubs After Soto Signing

The club dismisses concerns about fundamentally resetting the sport’s salary scale.
Dec 12, 2024; Chapel Hill, NC, USA; North Carolina Tar Heels new head coach Bill Belichick speaks to those attending his hiring announcement at Loudermilk Center for Excellence.

UNC Job Brings an End to Belichick’s Short-Lived Media Career

Bill Belichick had six media jobs this football season.

Bill Belichick to Take College Plunge at North Carolina

UNC made the official announcement late Wednesday.

Featured Today

The Top-Secret Operation to Create the Army-Navy Football Uniforms

The two-year process includes dozens of employees, NDAs, and military historians.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
December 9, 2024

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.

Premier League Transfer Spending Has Already Topped $2 Billion As Deadline Looms

Saudi Pro League teams haven’t yet matched their English counterparts.
August 11, 2024

Passing of the Torch: Los Angeles Set for Olympic Firsts in 2028

The city last hosted the Summer Olympics in 1984.
Paralympics Tiktok
August 25, 2024

The Wildly Successful Paralympics TikTok Account Isn’t What You Think

A cheeky TikTok account is opening the world of Paralympic sports.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 1, 2024

Saudi Arabia Submits Bold World Cup Bid That Includes a Cliffside Arena

The Saudis are proposing a new stadium in a futuristic city called Neom.
John John Florence (USA) surfs in men’s round two competition during the Tokyo 2020 Olympic Summer Games at Tsurigasaki Surfing Beach.
July 29, 2024

Olympic Surfers Won’t Get Their Full Paris Moment

‘We’re kind of separate off on our own little thing over here.’
Teahupo'o Tahiti Surfing
July 26, 2024

Olympic Surfing Crashes on Tahiti Like a Wave

For Teahupo‘o’s locals, the Olympics are a mixed blessing.
July 25, 2024

Olympics: Despite Concerns, Star Athletes and Paris Spark Hope

Hope rises for a resurgent event after two pandemic-marred Olympics.