Paris City Council has pledged to increase the number of available hotel rooms by 7,000 between now and 2020. To this end, it brought together some 20 heads of hotel groups (Accor, Louvre Hôtels, Best Western, etc.) to show them city-owned land that could be used to build new hotels. Although the city currently has 1,500 hotels (75,000 rooms), there is a need for budget hotels and two or three hotels with conference facilities.
In addition, since January France has been allowed to award the new “Five Star” label to some of its hotels in order to compete internationally in a market greatly affected by the current economic crisis. Paris now has eight hotels with a five-star rating: Fouquet's Barrière, Hyatt Regency Paris Madeleine, Le Square, Renaissance Paris Vendôme, Le Meurice, Ritz Paris, Park Hyatt Paris Vendôme and Marriott Champs-Elysées.
Visit Paris Region on Econovista's, interactive map of Paris Region's economy