While the term ‘affordable luxury’ may seem an oxymoron, a recent study conducted by the research firm Consultourisme has discovered which luxury hotel offers the best value out there. The 5-star Park Hyatt Vendôme was discovered to be the least expensive option out of all the ‘Palace’ hotels located in Paris.

The vaunted ‘Palace’ status is only awarded to the most prestigious hotels in the country. The city of Paris itself happens contain eight of these ‘Palaces’ – out of a total of 16. Consultourisme (which did the study for Tourmag.com) did a first comparison of rates in February for a two-night stay in a double room from April 1 to 3. A second comparison was carried out mid-May for a weeknight booking for the following day for a one-night stay in a double room with breakfast. From this, the researchers managed to check out which of the Paris ‘Palaces’ offered the best in terms of price.

In both cases, the Park Hyatt Vendôme proved the least expensive option at a rate of €1,394 for two nights booked in advance or €868.80 for a single night booked last minute. On the other hand, none of the hotels really stood out as the most expensive. The priciest two-night stay booked in advance came in at €3,167.50 at the Plaza Athénée, whereas the Royal Monceau topped the list for last-minute one-night bookings at €1,316. Of course, all this is dependent on the season and events being held in Paris, such as the popular fashion weeks. Prices are also dependent on whether it’s on a weekends or weeknights.

One of the great things about all the Paris ‘Palace’ hotels are their locations – they’re all found somewhere in the 8th and 16th arrondissements. This puts them in close proximity with the city’s major tourist sights, like the Louvre or the trendy shops set along the Rue du Faubourg Saint Honoré. For those of you interested in visiting the City of Lights with a bit extra to splurge, you might want to consider the Park Hyatt Vendôme as the spot to check out.