Paris ADR grabs gold during Olympics

PARIS — Paris’ ADR hit an all-time high during the 2024 Summer Olympics, according to data from CoStar.

According to the data, the highest ADR was on the night of the opening ceremonies (Friday, July 26) at EUR876.26 ($693.34), with the following four nights also registering room rates above EUR800 ($891.75).

Room rates stayed above EUR700 ($780.28) for the remainder of the Olympics, and Paris’ previous ADR high was in June 2023 (EUR622 - $693.34). RevPAR also reached a record high on the night of opening ceremonies, with a 179.3% increase to EUR765.85 ($853.69).

“Paris hotels saw a year-over-year room rate increase of 141% and RevPAR growth of 200% during the [Olympics],” said Samantha Mardkhah, regional manager for Southern and Western Europe for STR. “For comparison, ADR and RevPAR growth easily surpassed what was seen during the 2012 Olympics in London. At the same time, occupancy grew 24.1% in Paris, which was a lower increase than what was produced in London.”

The Olympics also significantly impacted the Île-de-France region. It saw its highest daily occupancy level (79.7%) on the night of 28 gold medal events (August 3, which represented a 43.1% increase year over year). Its highest ADR was posted on opening night (+133% to EUR281.90, $314.23). The highest RevPAR level in the market was recorded on Thursday, August 1 (+197.5% to EUR219.33, $244.48).

“In hindsight, the anticipated panic that Paris would be overcrowded throughout the Olympics quickly faded, perhaps in favor of other French markets, such as Marseille, which saw occupancy levels reach as high as 83%,” Mardkhah said. “Lille saw an 82% lift in occupancy, averaging at 70% during the Olympic period, which drove a 147% increase in RevPAR. We are now looking towards the Paralympics, with Paris hotel bookings currently running at an average of 49.7%.”