Interactive Dashboard: Bookings Boom for Paris Olympics 2024 | AirDNA

Interactive dashboard last updated on July 23rd, 2024.

In the dashboard below, you can track how demand (nights booked), booked rates, and available rates are evolving for the two weeks of the games, compared to the two weeks before. This data is live and interactive, with monthly updates as we approach the Olympics.

For Paris and its immediate suburbs of Seine-Saint-Denis, Hauts-de-Seine, and Val-de-Marne, there are currently 621K demand nights on the books for the Olympics (Friday, July 26th, 2024 – Sunday, August 11th, 2024), which is a 128% year-over-year increase in demand. Assuming each booked listing is at maximum occupancy, this translates to 498K guest reservations and 2.2M guest nights. These figures reflect bookings as of July 22, and we anticipate significantly more reservations in the coming weeks leading up to the main events.

You can also see year-over-year (YOY) supply growth for the last available month (June 2024). Total listings in Paris are currently up 44% YOY. To honor their commitment to keep prices down, Airbnb has been strongly encouraging Parisians to rent out their homes. Airbnb has suggested that as many as 20% of people in Paris could host during the Olympics and predicts that hosts could earn around €2,000 in revenue during the event.

The Paris Olympic Games in the summer of 2024 are poised to be an extraordinary event, and the short-term rental market is buzzing with excitement. As an official Olympics partner, Airbnb is gearing up to potentially host half a million visitors in Paris and other host cities across French territory. This comes as the French market, already Airbnb’s second-largest after the U.S., has seen significant growth, generating $14.8 billion in 2023, up from $12.1 billion in 2022. The upcoming Olympics presents an unprecedented opportunity for STR investors and hosts alike.

From swimming in the Seine to beach volleyball in front of the Eiffel Tower, Paris is set to take center stage as the host city for the biggest sporting event in the world. However, other cities around France will also be hosting events, including:

• The Stade de France and Aquatics Centre in Saint-Denis - rugby, athletics, diving, water polo and artistic swimming
• The Château de Versailles - equestrian events and modern pentathlon
• Stade Pierre Mauroy in Villeneuve-d’Ascq - basketball and handball
• CNTS Shooting Range in Châteauroux - shooting
• Stade La Beaujoire in Nantes - football
• Lyon Stadium in Décines - football
• Geoffroy-Guichard Stadium in Saint-Étienne - football
• Bordeaux Stadium - football
• Nice Stadium - football
• Stade Vélodrome and Roucas-Blanc Marina in Marseille - football and sailing
• Teahupo'o in Tahiti - surfing

Short-Term Rental Demand for the Games

With 10 days to go until the inauguration, demand for short-term rentals in Paris during the Olympics shows a 14% growth compared to the two weeks prior to the games.

One trend we’re seeing is the surge in demand for accommodations in the suburbs of Paris, where there is currently a 22% increase in bookings. Competition venues located outside of the city center, coupled with more affordable rates, are enticing travelers to choose suburban stays. Current hotspots for demand include the suburban areas immediately outside of Paris: Hauts-de-Seine, Val-de-Marne, and Seine-Saint-Denis.

Further afield, we’re also seeing boosts in cities like Villeneuve-d’Ascq (hosting basketball and handball), Châteauroux (hosting shooting), and Marseille (hosting football and sailing) – all with triple-digit growth in demand as guests come to see these once-in-a-lifetime events.

Rates and Availability

Currently, booked rates have increased by 15% across all Olympic locations, while available rates have shot up by 28% compared to the two weeks before the Olympics. Those who booked their stays early were able to secure excellent deals before hosts adjusted their prices. In Paris, available rates are averaging $353 a night, well above the average booked rate of $332. In the suburbs, available rates are averaging $230, while already booked rates average a much more affordable $191.

As the Paris Olympics draw nearer, we only expect demand to grow. With millions of travelers descending on Paris and other destinations for the games, short-term rentals are stepping up as a great option for temporarily expanding lodging supply to welcome the huge uptick in guests. Whether you're a traveler or a host, it's an event you won't want to miss.