High costs, safety worries hurt Paris Olympics turnout; hotel bookings drop

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High costs, safety worries hurt Paris Olympics turnout; hotel bookings drop - Business Standard

Quick Summary:

Visitors may be arriving by train or car which will not show up in flight data, but could drive last-minute home rental bookings, said Jamie Lane, short-term rental analytics firm AirDNA chief economist.

Still, it will be a blow for the French capital - one study recently estimated the Games would generate up to $12 billion in economic benefits to the Paris region.

As of March, nights booked in the Paris region during the games were 400 per cent higher than the same time a year ago.