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French Hoteliers Calculate Losses From Paris Attacks

News Deadly attacks that happened in Paris in November 2015 have cost French hoteliers a lump sum of 270 million euro. Due to a series of terrorist attacks French hoteliers lost significant part of their revenues and keep experiencing decreased occupancy rates.

Even in January French hoteliers were still struggling with aftereffects of the November incidents, with hope for recovery closer to the end of February. Moreover, in June the country will host the Euro 2016 tournament and several fair trades that will certainly improve hotel occupancy.

The French capital appeared on headlines of all media after a series of suicide bombings on November 13 that claimed lives of 130 people. Experts estimate that the shortfall of the French hotel industry will reach 270 million euro. Of course, Paris suffers the biggest loss – 146 million euro. According to experts in MKG, that is the sum of the loss for the period of November 2015 to March 2016. However, Paris is one of most visited cities in the world, so the drop-off in visits should not last long.

According to report of Accor, the largest hotel operator in Europe, they felt a significant decrease in the number of last minute bookings in the second half of December. The effect is expected to last 3-4 months.

France is the most visited country in the world, with Paris greeting as many as 32.2 million visitors every year.


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