By MANDEL NGAN/ReutersThe resort industry has seen a massive spike in hotel room rates since last summer, with the latest data showing a 5% jump in hotel rooms in Paris as the country prepares to host the 2024 Winter Olympics.
“Prices are at the highest level since 2008 and are higher than in other international cities such as London and Munich,” said David Ozer, the president of the Paris hotel association.
Ozer said prices at resorts such as the Palais des Festivals, which are located on the River Seine, and the Champs Elysees, the Grand Palace and the Arc de Triomphe are higher.
Prices at Paris hotels, including the Château d’Azur and Châtes-de-Fonds, are higher compared to other international destinations, according to the Paris Hotel Association.
Price at Paris hotel rooms, including a room at the Palaces des Festiques, the Chateau d`Azur, the Arc of Triomphes, the Palades de Justice, and Champs Elysées, have increased by 5% or more, according the association, the latest information available from the Paris Hotels Association.
The average price of a room is now 6,400 euros ($8,907), a rise of 15% since last year, according a Paris hotel data provider.
The Paris hotel industry is a $4.6 billion industry, making up 15% of the French economy, according an Associated Press analysis.
Pride in FranceThe Paris Hilton Hotels Group, which owns Paris Hilton hotels, said on Thursday it was “proud” to be “a founding member of the association that represents France’s hotel industry.”
The association said that the hotel industry’s performance over the last two years has been “exceptionally strong.”
It added that the association has a mission to help make hotels more attractive to tourists and improve the quality of life for Parisians.
Prashanth Bhargava, president of Hotels Europe, which represents the hotel and resort industry, said he was “very proud” to see the Paris Hilton Hotel Association’s record of growth in the last six months.
Pradesh Bhargav, president and CEO of Hotel Europe, said it was also a big success to see hotels continue to grow at a strong rate and that the Paris hotels association has been an important partner for the industry.
Pradhan Srinivasan, head of hotel services at the National Hotel Association, said Paris is a great place to work as the hotel sector “is highly diversified, highly educated and highly mobile.”
The Paris Hotel association is a key partner for international hotel operators, he added.
Hotels have been expanding their capacity and they are expanding more to serve more destinations, which has also helped them generate revenue for the association.
Hotel industry data provider ReBook, which tracks hotel rooms and hotel occupancy across Europe, found that France has the second-highest number of hotels per capita in Europe, after the United Kingdom.
Hotels in France are more expensive than those in other European countries, such as Spain, Spain, Italy, and Germany.
Prague, Hungary, Munich, Belgium and Germany have the highest rates in Europe.
Prussia, Germany, the Netherlands, Austria, Belgium, and Luxembourg have the lowest rates.