G20 Leaders’ Summit: Hotels jack up prices by upto 400%

If you plan to travel to the National Capital Region in the first half of September, finding a place to stay in a 5-star hotel will be next to impossible. Even if you manage to find a place, you will have to cough up at least twice or thrice the price that you would usually pay. The reason?

The likes of Joe Biden, Rishi Sunak, Emmanuel Marcon, Fumio Kishida and others are expected to descend upon New Delhi for the G-20 Leaders’ Summit.

The Summit, a gathering of the world’s most powerful leaders, will be held in the national capital during September 9-10, the culmination of India’s G-20 Presidency for 2023. Rooms in almost all 5-star hotels in Delhi during the period September 6-12 have either been blocked by the government or sold out. And it has had a ripple effect on the rest of the hospitality sector.

A senior sales manager of Le Meridien, a 5-star property in Lutyens’ Delhi, said that almost all rooms have either been blocked or sold out during the period of September 1-12. For the few rooms that are available, the rate starts from Rs 60,000 plus taxes per night for single occupancy. The rate for similar rooms in the last week of August is less than Rs 15,000 while in the second half of September, it is in the range of Rs 15,000 to Rs 17,000, indicating a 400% hike in the first half of September.

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Holiday Inn New Delhi International Airport, located at Aerocity, is charging Rs 37,500 plus taxes and service fees per night, non-refundable. or Rs 42,000 plus taxes with a cancellation option. The rate in the last week of August for the same property is around Rs 8,500 per night, as per data available through travel app MakeMyTrip.

Sales executive at The Imperial, a 5-star property located at Connaught Place, said the rooms are fully sold out during September 6-11. For September 5, the price starts at Rs 43,000 per night, which is more than double the average price in August.

ITC Maurya, located at the Diplomatic Enclave, is blocked for booking from September 8-12. The hotel is known for hosting high-profile foreign dignitaries. Almost all US presidents who visited the city during their respective tenures in recent decades chose the famed hotel, including Donald Trump, Barack Obama, George W Bush, Bill Clinton and Jimmy Carton. Joe Biden is also likely to choose ITC Maurya for his stay.

ITC Maurya has 438 rooms. During the stay of the US president normally all the rooms are blocked for American delegates and security personnel. The booking at the hotel is available up to September 7 and after September 13. The rate for a room in the first week of September starts from around Rs 32,000 plus taxes, which is 60% higher when compared with the price for similar rooms in the last week of August.

At Taj Palace, the starting price in the first week of September is Rs 25,000 plus taxes. After September 13 the price starts at around Rs 15,000. All the rooms are blocked in the Taj Mahal, popularly known as Taj Mansingh, in Lutyens’ Delhi, from August 30 to September 13. The blocking period of this Tata Group-run hotel is among the longest.

The story is similar in other 5-star properties in NCR. While the bookings for delegations accompanying heads of states and multilateral agencies are facilitated by the Government of India, a large number of people from media and corporates are also likely to visit during the period.