Tourists are taking photos in front of the Olympic rings placed on the Paris City Hall.
Hoteliers who were hoping to multiply their prices by four or five during the Olympics are gradually coming back down to earth.
Stéphane Manigold, president of the Umih Grand Paris, the largest professional union of restaurateurs and hoteliers in the region, states that there will likely be a significant slowdown in tourism during the Olympic Games. However, the months and years following the event could be extraordinary.
The exorbitant prices demanded for some hotel rooms and seasonal rentals since September gave the impression that the demand to attend the world’s greatest sporting event would reach a stratospheric level. However, this has not been the case. While some fans have been willing to pay a high price to be part of it, there are still available spots for the opening ceremony, and Parisian accommodations are far from full.
If prices have soared, it is because hoteliers and apartment renters were banking on a windfall that never materialized.
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