New Delhi, Aug. 30 -- Delhi's luxury hotel market is witnessing a sharp squeeze in room availability and a steep surge in tariffs ahead of the BRICS Summit, with several marquee properties either showing no rooms for key dates or quoting rates running into six figures a night.
A check of hotel booking platforms for September 11-13 showed no availability at Taj Mahal and Taj Palace in New Delhi, while The Oberoi, New Delhi, was sold out for portions of the period. The Leela Palace New Delhi was not accepting bookings for the specified dates.
Rooms that were available at properties such as ITC Maurya, New Delhi and Shangri-La Eros New Delhi were commanding exceptionally high tariffs, underscoring the premium being placed on accommodation in the capital around the September 12-13 Summit.
The two-day geopolitical event is effectively compressing demand across several days, as delegates and other visitors arrive ahead of the Summit and extend their stays, putting additional pressure on room inventory in central Delhi.
The development could leave tourists, business travellers and families with pre-planned trips to the national capital facing substantially higher accommodation costs, forcing them to either pay a premium for marquee properties, look for hotels farther from central Delhi, alter their travel dates or opt for lower-priced accommodation.
Published by HT Digital Content Services with permission from Millennium Post.