"Tourism and travel services are the sector where we would expect to see the largest adverse impact, with some substitution effects towards other destinations, perhaps elsewhere in France away from Paris, but more likely benefiting other European capitals, unless the phenomenon were to spread to other countries," said analysts led by euro zone economist at Citigroup, Guillaume Menuet in a note to clients.
European bourses fluctuated throughout the session on Monday, with the broader STOXX 600 index trading flat. French and German stocks both traded 0.4 percent and 0.1 percent lower respectively, while London's FTSE managed to hang onto some gains.
French hotel group Accor, which is headquartered in Paris was also trading over 5 percent, while U.K.-listed hotel chains Intercontinental and Whitbread were both down in the region of 1 percent. Travel agent Thomas Cook also slipped over 4 percent.