Hotel rates in Delhi are rising sharply ahead of the BRICS Summit, set to take place from September 12-13, with some properties charging more than four times their rates for the dates of the event.
A comparison of hotel listings on MakeMyTrip for September 11-13, and September 18-20 shows rates rising by 124% to 323% across hotels in and around central Delhi.
At Hyatt Regency New Delhi, a room listed at around INR 83,500 ($884) a night excluding taxes was available for INR 19,500 ($206) the following weekend — 325% higher. (With taxes, the same room is ($1,080 on the summit weekend.)
The spike is most stark in central Delhi, which is close to Bharat Mandapam, the summit venue, and there is limited premium inventory. Several leading luxury hotels, including Taj Palace, ITC Maurya, The Oberoi, The Imperial, and The Leela Palace, have effectively sold out for the summit dates, said Gaurav Sharma, JLL’s managing director — hotels, India and senior di
