US luxury travel agents underwhelmed by demand for Paris Olympics

Reported 10 months ago

Luxury travel agencies in the United States are experiencing lackluster demand for the upcoming Paris Olympics, with wealthy travelers opting for nearby European destinations instead. Despite a 37% increase in tickets from the US to Paris compared to the same period in 2023, bookings for France as a whole are down 22% from last year. Luxury retailers like LVMH and Cartier are anticipating increased business outside Paris during the games, while Virtuoso reports a 172% increase in summer travel bookings for the city, but overall bookings for France are down. Hotel occupancy for August is expected to rise 9.1%, with room rates increasing by 73% during the Olympic period, according to CoStar.

Source: YAHOO

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