Lucie

🏆 French tourism witnessed a remarkable boost during the Olympic fortnight, erasing pre-event losses to yield a +€357 million gain in "professional" accommodation revenue, a +1.4% increase of the annual turnover. Ile-de-France led with nearly €200M benefit, followed by central Paris's €92M, despite the initial tourist absence since June. Paris suffered a >20% visitation drop and nearly -27% turnover, but the Olympics sparked a +10 point occupancy rise, with accommodation prices soaring by +118%, doubling the revenue 2.5 times. Other areas in Ile-de-France, except Seine-et-Marne, saw revenue increases from 2.3 to almost 4 times, with Yvelines topping the region's gains.

🏨 OYO, Indian hotel chain backed by SoftBank, acquires Paris-based Checkmyguest, a specialist in short to medium-term rental property management. Acquisition could value Checkmyguest at around €100 million. OYO, founded in 2013 by Ritesh Agarwal, raised $4.1 billion from 26 investors, including Airbnb. It operates over 17,000 hotels and residences globally and aims to expand its vacation rental portfolio. Checkmyguest, founded in 2016, converts commercial spaces into short-term rentals and takes a 20% commission on rents. Deal includes HMG and Studio Prestige acquisitions. Since @Leisure Group purchase in 2019, OYO manages 50,000 vacation homes across 20 European countries, marking its third major investment in the short-term rental sector.

🏃 Over 1,600 signatories including the City of Paris, Paris Chamber of Commerce and Industry, and other organizations, have committed to the "Manifeste de l’hospitalité" to enhance Paris's appeal for the 2024 Olympic and Paralympic Games. The manifesto concentrates on three main areas: ecological transition, visitor experience, and local ecosystem, promoting sustainable hospitality. Commitments include fighting waste and reducing single-use plastics. The strategy aims for wider application beyond Paris and the 2024 events.