The Paris Olympics 2024, technically the XXXIII Olympiad, will be held between July 26 and Aug. 11, in a little more than 100 days’ time.
According to its official website, the games will include 41 venues, 329 sporting events and 10,500 athletes.
There will also be a substantial number of sporting spectators, and Paris' hotels are ready and waiting, but there has not been a race to add hotels or rooms.
According to data from CoStar, Hotel News Now’s parent company, new hotel supply will not be a major consideration in Paris.
CoStar data shows Paris hotel supply is less than when its close neighbor, London, hosted the games in 2012. The London Olympic Games had been designed to help regenerate the Stratford district, and surrounding areas, in the east of the U.K. capital.
Sébastien Bazin, CEO of France and Europe’s largest hotel firm, Accor — which will be an official partner of the games — said he does not think the Olympics will move the needle much in terms of performance. The reason is that Paris always has been one of the world’s most popular tourism destinations.
Speaking to analysts at the firm’s full-year 2023 earnings report in late February, Bazin said the Paris Summer Olympics likely will not have a large impact on hotel revenue per available room.
The benefit “will be in the area of half a percentage point for 2024, maybe 2.5% for France,” he said, adding that summer hotel occupancy and average daily rate are always high.
Bazin added what the Olympics will bring France and Accor's portfolio of hotels is a global audience.
If hotel performance metrics pan out in Paris as they did for the past several Olympic games — Tokyo 2021 was an anomaly, a scaled-back games held within the pandemic — its average daily rate should soar during the dates of the event.
Accor also issued a statement underlining the Paris Olympics’ legacy goal of the games being the first Olympics to be carbon negative.
Brune Poirson, Accor’s chief sustainability officer, told HNN that the one of the selling points of the Paris games is that they will have a positive impact on the climate.
The games will be a test case for Accor, too, as it seeks to reach its goals of sustainability and environmental, social and governance initiatives, Poirson said.
The hotel firm has 1,690 hotels in France alone, comprising 152,142 rooms.