The Paris region offers 50,000 Airbnb listings—nowhere in the world is more accommodation available on the home-sharing website. Airbnb offers between 380 and 400 Paris properties at over 500 euros a night. Of those, about 40 charge over 1,000 euros ($1,090). And that poses an increasing problem to the city’s 5-star hotels that offer about 1,500 rooms in total. The Bristol Hotel suffered a 20 percent drop in revenue in the first half of this year and an occupancy rate that fell to 61.2 percent from 69.2. The Four Seasons George V saw a 5 percentage point drop in occupancy to 66 percent in the same period. The Plaza Athenee cut its prices by 20 percent last winter. The luxury hoteliers complain about the “unfair advantages” of Airbnb. That’s the usual complaint of losers. Meanwhile, travelers, tourists, and locals win.
The sharing economy beats Paris luxury hotels
More of Today's Solutions
A personalized mRNA Vaccine provides ‘real hope’ for melanoma pat...
In a major development in cancer research, scientists started testing the world's first tailored mRNA cancer vaccine for melanoma. This revolutionary strategy has enormous ...
Read MorePro parenting tips to spark your children’s life-long love for the grea...
In today's digital world, the pull of screens can be difficult to overcome, particularly for kids. However, the dangers of spending too much time ...
Read MoreFor Greenlanders, eating sugar is significantly healthier
Sugar is vital for humans to survive as fuels us with energy, that’s why mother nature made the sweet treat so delicious! Although, for ...
Read MorePatagonia’s billionaire founder gives company away to save the planet
Eco-conscious outdoor apparel brand Patagonia has a history of setting the bar high when it comes to environmentally-friendly practices and mindset. Now, the company’s ...
Read More
