The rapid growth of tourism is worrying Paris ' luxury hotels , who are already trying to grapple with a downturn in foreign visitors due to a downturn in economies in Russia , Brazil etc . Of those, about 40 charge over 1,000 euros ($1,090). Superdeluxe hotels in Paris can not compete with Airbnb 's high prices , the attraction of individuality , anonymity , tempting real estate and other offers . A recent change in French law now allows residents to rent their residences for up to 4 months a year without having to pay the taxes that they have to pay , which Airbnb is taking advantage of . The Bristol , the Four Seasons and the Grand Athenee have all reported a drop in revenue over the year .
The rapid growth of tourism is worrying Paris ' luxury hotels , who are already trying to grapple with a downturn in foreign visitors due to a downturn in economies in Russia , Brazil etc . Superdeluxe hotels in Paris can not compete with Airbnb 's high prices , the attraction of individuality , anonymity , tempting real estate and other offers . A recent change in French law now allows residents to rent their residences for up to 4 months a year without having to pay the taxes that they have to pay , which Airbnb is taking advantage of . The Bristol , the Four Seasons and the Grand Athenee have all reported a drop in revenue over the year .