The mayor of Paris warns IOC of Airbnb’s risks

IOC of Airbnb's

A letter was sent by Mayor of Paris to IOC Chairman Thomas Bach to warn of the “risks” involved in the recent Olympic sponsorship with the Airbnb lodging market. Airbnb has been revealed in the’ Special Accommodation Goods and Creative Experiences Facilities ‘ special group of the Worldwide Olympic Partnership yesterday, Monday.

Anne Hidalgo, the host of the 2024 Summer Olympics, claimed in her letter that she was “totally determined to improve the regulations concerning rental platforms” in Paris.

Hidalgo also claimed that in some parts of the city she could make short-term tourist rentals against the law.

Bach defended the company against criticism that the site priced people out of cities on Monday’s announcement of the Airbnb agreement.

The office of the mayor published earlier this year results showing that the unoccupied housing share in Paris has risen by three points over the last five years from 14.1% to 17%.

The principal reason cited was the increase in the use of special Internet sites for tourist rental services. Sustainable housing supplies in Paris are being hampered by this trend and the number of residents decreases, the report says.

According to the same document, it does not seek to prevent people from renting their homes from time to time, but rather it provides fine platforms like Airbnb for renting accommodation, which has been rented 120 days a year already.

Airbnb cited European law exempting the site from user activity tracking. The case should be resolved in 2020 by the Court of Justice of the European Union.

In the 9-year term, Airbnb is worth $500 m (€ 452 m), according to the Financial Times newspaper. The three Summer Games and two Winter Olympic Games in Tokyo 2020, Beijing 2022, Paris 2024, Milan-Cortina 2026 and Los Angeles 2028 are included.

In addition to a substantial charge for access, it has been stated that the sum of $500 m takes into account the costs of Airbnb’s facilities, including the free lodging of athletes and executives.

The Paris authorities ‘ thoughts on Airbnb could contradict the views of smaller towns like Eugene, Oregon, which hosted the World Athletics Championship in 2021. The town has about 200 hotel rooms built to date and 12,000 rooms would likely be required to host all visitors.