Reported 11 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