What the Olympics Did to Paris Lodging Prices

As the 2024 Olympics draw near, travelers seeking to experience Paris on a budget might find their dreams dashed against the cobblestones of economic reality. Lodging prices have spiked during the 2024 games, which run from July 26 through Aug. 11.

The average nightly rate in Paris and the surrounding region is 522 euros (about $570 at the time of writing) per night during the Olympic Games, according to a January 2024 report from the Paris Tourist Office. That’s about 2.5 times the average nightly rates in July 2023 and more than three times the average in August 2023.

On certain nights, prices are even higher. The average nightly hotel rate in Paris on the night of the Olympic opening ceremony is 1,033 euros (about $1,130), according to a December 2023 report from UFC-Que Choisir, a nonprofit consumer advocate organization. That’s a 226% increase over average room rates for the same weeknight two weeks prior.

With 10 million tickets available for the Olympic Games, expect a whole lot of people to flood Paris. For the Olympic opening ceremony alone, hundreds of thousands of spectators are expected to line the banks of the Seine.

The athletes, staff and spectators expected for the Olympics are much higher than the number of people who usually visit Paris at that time. The volume of international airline bookings so far for the dates of the Games is up 116% versus the same period in 2023, according to a report from the Paris Tourist Office. And that’s not counting the people who may take the train or drive to the city for the event.

It’s not just hotel prices seeing massive increases in supply and demand, but vacation rentals, too. Demand for short-term rentals during the Paris Olympics is 156% higher than demand for the two weeks before the games, according to vacation rental analytics company AirDNA. Prices are higher, too. AirDNA reports available vacation rental rates during the Olympics are 40% higher than the two weeks before.

If you’re heading to Paris during the Olympics, prepare for high prices across the board. That said, there are some ways to save on lodging.

If you’ve found a rate you’re at least willing to pay, read that hotel’s cancellation terms. Many hotels have flexible policies (free cancellation up to 48 hours before arrival is common). If that’s the case with your reservation, lock something in now. Then, if you see room rates drop closer to the Olympics, you can cancel and rebook to save.

Average available nightly rates for vacation rentals in the suburbs are $302, compared with the $619 nightly rates within Paris, according to AirDNA.

Given the time and energy spent commuting, a 50% discount might not be worth it for folks who prefer to be in the center of the action. But for some fans, it might make just as much practical sense as financial sense. Many of the 35 Olympic venues are outside of Paris city limits anyway.

No matter what kind of international trip you’re taking, it’s always best practice to use a credit card that doesn’t charge foreign transaction fees. Otherwise, you could owe up to an additional 3% simply because you used your card outside the U.S.

When it comes to the Olympics in the City of Lights, lodging prices are blinding. But with some planning, you might be able to secure lodging at a reasonable rate. As far as Paris travel goes, that’s a feat worth a gold medal.