Paris prepares for Olympic hotel demand

Pictured: the forthcoming Locke Paris by edyn.
French capital Paris is ploughing US$789 million into high end hotel investment to prepare for its status as Olympic host city next year, according to the latest THP data.

Paris and its environs will accommodate 27 sports for the blue riband event, and with international visitors due to flock to the metropolis, hotel chains are gearing up to add to their local portfolios.

2024 peak

The THP database currently contains records of 25 hotel projects underway in the city, encompassing 4,861 keys.

60% of the pipeline is due for delivery before the Games begin, comprising five completions this year and a peak of 10 in 2024. Another 10 hotels will be added to Paris either further in the future or they have yet to be designated an opening date.

This schedule is reflected in the project phase data, with 14 developments (56% of the pipeline) under construction and one more site at a pre-opening stage. Further back in the process, seven projects are in planning and three are in pre-planning.

New and upscale preference

In terms of site type, 44% of Parisian projects are newbuildings, representing 11 hotels, while another eight are conversions and six are refurbishments.

There’s also a 60%/40% split in favour of four star properties, equivalent to 15 upscale developments as against 10 luxury sites.

Notable brands and projects

The only major hotel brand groups with multiple developments in the city are The Ascott Ltd, Accor and Hilton Worldwide, on two apiece.

One of the Hilton sites is the imminently opening 118-key Hilton Paris Eiffel Tower, located in the seventh arrondissement, renowned as the district of choice for Parisian and the home to France’s National Assembly, a range of museums, the Invalides and the Eiffel Tower itself. The converted site on Avenue de Saxe sits next to Place de Breteuil and leads towards the Champ de Mars. Additional features to be found within the property will include a fitness centre and an executive lounge.

Another conversion project due to debut before the Olympics is Locke Paris from edyn, scheduled for Q1 2024. Currently an 18th Century mansion located in the cosmopolitan Latin Quarter, a stone’s throw from Sorbonne University and the Panthéon, the property will be transformed into a flagship location for Locke. Integrating Locke’s hybrid concept, the sensitive redevelopment will result in 1,000 sq m of activated social spaces comprising a winter garden, a high-concept restaurant and bar set under a restored glass atrium, co-working, coffee shop, gym and laundry facilities. Accommodation will feature 145 studio apartments spread over seven storeys, which will be housed in a new building to the rear of the site.