Hotel prices in Delhi are soaring in anticipation of the upcoming BRICS Summit, which will be held on September 12-13. Some hotels have increased their rates to more than quadruple the standard price for those dates.
Significant Rate Inflations
A survey of hotel pricing on MakeMyTrip for stays from September 11-13 compared to September 18-20 reveals that hotel rates in and around central Delhi have jumped by as much as 124% to 323%. This drastic spike is particularly pronounced for hotels near the summit location, Bharat Mandapam, where premium options are in limited supply.
Examples of Price Jumps
The Hyatt Regency New Delhi exemplifies this price inflation, with rooms that typically cost around INR 19,500 ($206) per night the following weekend being listed at INR 83,500 ($884) per night during the summit. With tax included, the summit rate reaches $1,080. Several luxury hotels in the area, including the Taj Palace, ITC Maurya, The Oberoi, The Imperial, and The Leela Palace, are reported to have already reached full capacity for the event dates, according to Gaurav Sharma, managing director of hotels at JLL India.
Reporting based on coverage first published by skift.com.