Paris-France: Recent estimates indicate that, except from Paris, travelers are heading everywhere else for the 2024 Summer Olympics, which might mean lost revenue for hotels and airlines who were counting on higher demand.
With a 70 percent market share between France and America and a partnership with Air France, Delta Air Lines anticipates loosing $100 million as a result of increasing the number of flights it operates. Experts had predicted that the major world athletic event would bring in more passengers than usual to Paris, the City of Light. It is anticipated that Air France will lose $180 million.
“International markets show a significant avoidance of Paris,” said Air France-KLM, Air France’s parent company. “Travel between the city and other destinations is also below the usual June-August average as residents in France seem to be postponing their holidays until after the Olympic Games or considering alternative travel plans.”
Travelers, however, are diverting attention and going in different directions. More affordable travelers are choosing to attend the Olympics in Paris,the France capital city. According to luxury travel advisers based here in the United States said the demand for hotels and travelling tickets to the city during the Olympic season is lower than anticipated.
In his statement , he said visitors to Paris during the Olympics are anticipated to be participants, with a large number of them being French.
According to information from the city’s tourism board, Paris je t’aime, in October of last year, 15.3 million visitors were anticipated, of which 3.3 million were Olympic attendees and 1.9 million were foreign visitors. The board now projects 11.3 million visitors, down from 1.5 million foreign visitors.
Hotels are being hit with the lack of demand. Occupancy is expected to reach around 80 percent, far below that of past Olympics gamesThe founder of sports travel firm 14sb, Alan Bachabd said that sales for hotels in Paris have fallen 80 percent short of expectations.
“This is the first time in 25 years that we will accept less money than we paid for hotel rooms that we contracted 30 months ago,” said Bachand.
While it seems certain that Paris won’t welcome as many international visitors for the Olympics that it had hoped this year, it’s still expected to be the most-visited destination in the world by international travelers, according to data by ForwardKeys.
