Delhi Hotels Witness Three Fold Price Surge Amid G20 Summit
Average room rates for premier hotels in New Delhi will surge to Rs 26,000 from the 7th to the 11th of September
Due to heightened demand driven by the arrival of various delegates for the G20 Summit, the average room rates for premier hotels in New Delhi are set to triple during the long weekend.
According to data from RateGain Technologies’ Adara division, the Average Daily Rate (ADR), surged to Rs 26,000 from 7th to 11th September. This is an almost four-fold increase from last year’s average of Rs 6,000.
ADR is a key metric used by hoteliers to measure room revenue and includes room rates, food and beverage spending, and other services availed by customers. It only counts rooms already occupied in the hotel and not the empty ones.
The G20 summit will bring together top leaders from the world’s 20 largest economies. The event is expected to attract large numbers of officials, journalists, and visitors, pushing hotel rates to a record average range of Rs 18,000 to Rs 25,000.
Leaders coming to attend the summit will stay at the ITC Maurya and the Taj Palace in Delhi. These two hotels have hosted several heads of state in the past and are familiar with security protocols for the same.
According to reports, the Leela Palace would host the entire Saudi delegation, including the head of state. JW Marriott at Aerocity will have a 60-member delegation staying, and about 50 per cent of its rooms will be taken up by those attending the conference. Other premier hotels, such as Lodhi and Oberoi, are also expected to host G20 delegates.
Sharad Datta, General Manager, JW Marriott Aerocity told the Mint, “Since we are the only luxury hotel in Aerocity, we have garnered business from G20, unlike some of the other hotels in this area. About 50 per cent of our hotel will be occupied by G20-related delegates over the next 10 days, including one head of state. We have flown down chefs from the locations where the delegations are from and expect to give them a similar fare along with Indian cuisine."
Hotels that have failed to draw bookings from official delegations, expect room occupancies to drop significantly during the next week because of the travel restrictions announced.
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