November 29, 2018 / 1:18 PM / 12 days ago

Champs-Elysees protest cost Paris hotels 10 mln euros - research firm MKG

PARIS, Nov 29 (Reuters) - Violence that erupted last Saturday on the Champs-Elysees during protests against rising fuel have led to cancellations of bookings that cost Paris hotels at least 10 million euros ($11.4 million) in lost revenue, said research firm MKG.

For more than a week now, ‘yellow vest’ protesters have blocked roads across France and impeded access to some fuel depots, shopping centers and factories in protest against fuel tax hikes which they say have eroded their spending power.

The unrest reached new heights in Paris last Saturday, when police fired tear gas, water cannon and rubber bullets at thousands of protesters who trashed restaurants and shop-fronts and set wheelie bins ablaze on Paris’ upmarket Champs-Elysees boulevard, a tourist magnet.

$1 = 0.8781 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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