Airbnb CEO urges Parisians to put homes up for rent for Olympics
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The Arc de Triomphe is seen as athletes compete in the elite men's triathlon test event.
PHOTO: REUTERS
PARIS – Airbnb is expecting to host up to half a million people during the 2024 Olympics and is urging more Parisians to put their homes up for rent, chief executive officer Brian Chesky said on Tuesday.
The more listings there are, the more prices will be contained, he told Reuters, amid fears that prices could rocket and accommodation for the Games could become unaffordable for some.
“A lot of people need housing... because they don’t have enough hotel rooms here in Paris to accommodate everyone,” Chesky said.
Paris’ tourism office expects some 16 million people to visit the wider Paris region for the Olympics and Paralympics.
“Surveys suggest as many as 20 per cent of people in Paris are interested in hosting,” Chesky added.
“If they put their (homes) on Airbnb and there is enough housing, prices will stay within reason.
“If not enough people put their homes on Airbnb and people don’t have enough accommodation... (and regarding) hotels, they can’t build more hotels, that’s going to increase prices.”
Airbnb became an Olympic partner in 2019 and Chesky also said it would be made clear to hosts that the listings with the best value for money would be given priority for search results.
“So while hotel prices are going up, I will make sure that Airbnb is more affordable than hotels for the equivalent amount of space when people are travelling to Paris for the Olympics. I think we can do that,” he said.
According to a study by Deloitte published in April, prices for accommodation in the Paris region will rise by a huge 85 per cent during the Games because tourists are ready to pay the price no matter what.
In a July article published on the France 24 website, a resident named Gabriel said in an interview he expects to make around €30,000 (S$43,400) in Airbnb profits for the near three-week period of the Olympics.
His apartment – a 90 sq m, two-bedroom flat – lies in the heart of Paris. He plans to rent it out for €1,200 a night, a big increase from the €400 to €500 he usually makes.
Chesky is hoping that having a substantial supply of homes will solve this issue.
The French government is also doing its part to regulate price rises, as it is set to sign a charter in the coming months that will require homestay platforms such as Airbnb to notify their users of excessively high rental prices.
A notification will be shown on listings that are costlier than properties of a similar size, and this is due to be implemented at the start of 2024 before the July-August Games. REUTERS
