Speaking to Reuters, Chesky quelled concerns that prices would skyrocket in the French capital due to demand from sports fans and make it unaffordable for them, indicating that they would remain moderate the more listings that come onto the market.
That echoes statistics being released by the tourism office in Paris, which estimates that approximately 16 million will visit the city and its wider region during the Olympics and Paralympics. Meanwhile, the city is also expecting to accommodate some 10,500 athletes, 4,400 para-athletes and 206 delegations for the Olympics alone, according to SchengenVisaInfo.com.
Chesky said: “A lot of people need housing. They don’t have enough hotel rooms here in Paris to accommodate everyone.
“Surveys suggest as many as 20 per cent of people in Paris are interested in hosting. If they put their [homes] on Airbnb and there is enough housing, prices will stay within reason.
“If not enough people put their homes on Airbnb and people don’t have enough… hotels and they can’t build more hotels, that’s going to increase prices,” he added.
The Airbnb CEO continued by saying that the platform would give higher prominence to listings that offer the best value for money in its search results, at the same time as hotel prices will inevitably increase too.
