Airbnb proving to be tough competition for Parisian luxury hotels
Paris currently offers more accommodation options on Airbnb than any other city, placing luxury hotels at risk of losing out on the market.
Home-sharing website, Airbnb, has drastically shifted the tourism accommodation industry at a colossal scale. Whilst it can initially be perceived that the website is an ideal gateway for low-budget lodging, luxury hotels hold concerns over the abundance of offered high-quality accommodation throughout France’s capital.
Currently, an estimated 400 apartments in Paris are offered through Airbnb at over €500 per night, with 40 of them requesting a €1,000 per night fee.
When looking through Airbnb, there exists a 140 square metre terrace, with a “breathtaking 360 degree view of the capital city” home that once belonged to film star, Brigitte Bardot – all priced at €1,200 per night. Furthermore, a Champs-Elysée penthouse that overlooks the Bristol Hotel is currently offered, through Airbnb, at €1,589 per night.
Traditional visitors of Paris’ notoriously glamorous hotels of Ritz or Bristol are now granted access to lodging of almost equal, yet cheaper, standards.
Bristol Hotel’s managing director, Didier le Calvez, admitted that “The Paris market is going to get very difficult.” Jose Silva, who operates the Four Seasons George V further added how “It’s obvious that a large part of our clientele, especially the families, will abandon the hotels.”
In the past, Airbnb and Parisian hotels have stood at odds over hospitality practice and what should be considered as the most appropriate process of attaining customers. UMIH, the union representing hotels throughout France, argued that Airbnb practiced lodging without committing to industry taxes. Roland Heguy, president of the UMIH, stressed “Without respect for the rules, our profession, our values, our jobs, and our investments are in danger.”
However, Airbnb CEO, Brian Chesky responded with indifference, suggesting that the website serves to only boost tourism, rather than pose as a threat to the Parisian hospitality industry.
“I don’t think for us to win (that) anybody has to lose,” assured Chesky.
As tourism is considered to be one of France’s most prominent industries, foreign investors are recommended to examine the developments that are currently undergoing throughout the nation. deVere France understands and analyses the patterns that occur, allowing our regulated financial advisers in France to consult in clients with full consideration of any potential factors.
Contact deVere France for a free consultation so that our advisers are able to protect your assets in the current financial circumstances.
Paris currently offers more accommodation options on Airbnb than any other city, placing luxury hotels at risk of losing out on the market.
Home-sharing website, Airbnb, has drastically shifted the tourism accommodation industry at a colossal scale. Whilst it can initially be perceived that the website is an ideal gateway for low-budget lodging, luxury hotels hold concerns over the abundance of offered high-quality accommodation throughout France’s capital.
Currently, an estimated 400 apartments in Paris are offered through Airbnb at over €500 per night, with 40 of them requesting a €1,000 per night fee.
When looking through Airbnb, there exists a 140 square metre terrace, with a “breathtaking 360 degree view of the capital city” home that once belonged to film star, Brigitte Bardot – all priced at €1,200 per night. Furthermore, a Champs-Elysée penthouse that overlooks the Bristol Hotel is currently offered, through Airbnb, at €1,589 per night.
Traditional visitors of Paris’ notoriously glamorous hotels of Ritz or Bristol are now granted access to lodging of almost equal, yet cheaper, standards.
Bristol Hotel’s managing director, Didier le Calvez, admitted that “The Paris market is going to get very difficult.” Jose Silva, who operates the Four Seasons George V further added how “It’s obvious that a large part of our clientele, especially the families, will abandon the hotels.”
In the past, Airbnb and Parisian hotels have stood at odds over hospitality practice and what should be considered as the most appropriate process of attaining customers. UMIH, the union representing hotels throughout France, argued that Airbnb practiced lodging without committing to industry taxes. Roland Heguy, president of the UMIH, stressed “Without respect for the rules, our profession, our values, our jobs, and our investments are in danger.”
However, Airbnb CEO, Brian Chesky responded with indifference, suggesting that the website serves to only boost tourism, rather than pose as a threat to the Parisian hospitality industry.
“I don’t think for us to win (that) anybody has to lose,” assured Chesky.
As tourism is considered to be one of France’s most prominent industries, foreign investors are recommended to examine the developments that are currently undergoing throughout the nation. deVere France understands and analyses the patterns that occur, allowing our regulated financial advisers in France to consult in clients with full consideration of any potential factors.
Contact deVere France for a free consultation so that our advisers are able to protect your assets in the current financial circumstances.
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