The 2024 Summer Olympics in Paris are causing a surge in short-term rental prices, with nightly rates doubling from an average of $435 to $932. With nearly 10 million visitors expected, demand for accommodations is skyrocketing. AirDNA data shows a 519% to 829% increase in demand for Airbnb and Vrbo properties compared to the weeks before the games. Hosts in Paris are seizing this opportunity, with some planning to charge significantly more than their usual rates and hoping to make six figures during the games. Airbnb CEO Brian Chesky encourages more Parisians to list their homes to keep prices reasonable, while volunteers and spectators are desperately seeking affordable lodging. Airbnb's partnership with the International Olympic Committee aims to mitigate housing costs and the need for new infrastructure.

"AirDNA also found that Airbnb and Vrbo rates for the event dates have already doubled, jumping from an average of $435 to $932 a night. For hosts in France, the second-largest market for Airbnb behind the US, the Olympics are a once-in-a-lifetime opportunity to cash in."

Nearly 10 million people are expected to visit Paris for the 2024 Summer Olympics.Nightly short-term-rental rates have already doubled, jumping from an average of $435 to about $932.Hosts and visitors are moving in with in-laws and praying for cheap...

Airbnb hosts are scrambling to cash in on the Paris Summer Olympics - and visitors are struggling to find cheap places to stay

Business Insider: Airbnb hosts are scrambling to cash in on the Paris Summer Olympics — and visitors are struggling to find cheap places to stay