Travel / news brief
Delhi Hotel Rates Quadruple Ahead of BRICS Summit as Supply Tightens
Hotel rates in central Delhi are soaring ahead of the BRICS Summit on September 12-13, with some properties charging more than four times their usual rates as room inventory tightens.
A comparison of hotel listings on MakeMyTrip for September 11-13 against September 18-20 shows rate increases ranging from 124% to 323% across hotels in central Delhi and its surroundings. The spike is most pronounced in areas close to the summit venue, where premium inventory is limited.
At the Hyatt Regency New Delhi, a room listed at around INR 83,500 ($884) per night excluding taxes for the summit weekend was available for INR 19,500 ($206) the following weekend, reflecting a 325% hike. With taxes, the same room costs approximately $1,080 on the summit nights.
The demand crunch is especially acute among top-tier properties. 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, according to Gaurav Sharma, managing director for hotels in India at JLL.
The price surge underscores how quickly hotel supply can be exhausted when demand arrives all at once, a phenomenon often seen during major international events. With limited room inventory in the central business district and high-profile delegations seeking accommodation, rates have moved sharply upward in a short window.