Measuring the Impact of the 2024 Olympics on France’s Hotels
With slightly over three weeks until the start of Paris 2024, SiteMinder, the name behind the only software platform that unlocks the full revenue potential of hotels, has analysed hotel arrivals during the Olympics period (26 July to August 11), and compared them to the same dates last year. The results are derived from SiteMinder's platform, which generates more than 120 million reservations annually, worth over US$50 billion in revenue for its more than 41,000 hotel customers.
In Paris, which will host the majority of events, the total number of forward bookings for the Olympics period has increased by 43% compared to the previous year. On average, stay lengths have grown by 9% to 2.48 days, and bookings have been made more than two months further in advance, (174 days ahead versus 112 days last year). Reflecting the unique patterns of demand, the average room rate has more than doubled, from €229 to €460.
France-wide, the total number of forward bookings for the Olympics period has increased by 39%. Stay lengths have jumped by 10% to 2.38 days, and like Paris, reservations have been booked further in advance, (144 days ahead versus 113 days last year). The average room rate has grown by 33% from €251 to €334.
Additionally, 68% of bookings for July are currently from international guests, compared to 54% last July. Travellers from Germany, the UK, US, Netherlands and Belgium are leading the projected arrivals.
Unique events like the Olympic Games offer hotels a rare opportunity to boost their bottom-line. For travellers who have already booked their stay, offering tailored upgrades and packages pre-stay can further enhance their Olympic experience. This not only elevates guest satisfaction levels but opens new revenue streams for the property, delivering a win-win for all parties. Anthony Casano, Country Manager France at SiteMinder
About SiteMinder
SiteMinder Limited (ASX:SDR) is the name behind SiteMinder, the world's leading hotel distribution and revenue platform, and Little Hotelier, an all-in-one hotel management software that makes the lives of small accommodation providers easier. The global company is headquartered in Sydney with offices in Bangalore, Bangkok, Barcelona, Berlin, Dallas, Galway, London, Manila and Mexico City. Through its technology and the largest partner ecosystem in the global hotel industry, SiteMinder generates more than 120 million reservations worth over US$50 billion in revenue for its hotel customers each year. For more information, visit siteminder.com.
Maria Cricchiola
Director of Brand Communications & PR
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