HBI Staff | Hyderabad 
According to an exclusive report by Money Control, as the highly anticipated G20 leadership summit approaches, luxury hotels in Delhi are experiencing a surge in bookings and a substantial increase in prices. The 18th G20 Heads of State and Government Summit, scheduled for September 9th and 10th, is set to take place in a state-of-the-art convention complex at Pragati Maidan, New Delhi. Notable attendees include PM Narendra Modi, US President Joe Biden, UK Prime Minister Rishi Sunak, Canadian Prime Minister Justin Trudeau, and Chinese President Xi Jinping.
The capital’s most prestigious hotels, including Taj Mahal, Taj Palace, ITC Maurya Sheraton, Le Meridien, Shangri-La, The Lalit, Imperial, Oberoi, and Leela, have already reached full occupancy for the period between September 6th and 11th. Other hotels, such as The Claridges, Eros, and Pride Hotel, are reporting full bookings from September 8th to 10th.
“Eros Hotel is expecting 100 percent occupancy during the G20 meeting dates,” stated Rubina Sharma, Director of Sales and Marketing at Eros Hotel, Nehru Place. The G20 meetings scheduled for September have generated a significant surge in bookings, according to Atul Upadhyay, Executive Vice President of the Pride Hotels Group, with over 500 rooms earmarked for the event. They anticipate an occupancy rate exceeding 95 percent during the summit, compared to the previous 75 percent recorded in recent months.
Aashish Gupta, Consulting CEO of the Federation of Associations in Indian Tourism & Hospitality, noted that hotel occupancies in Delhi have already begun to rise due to G20-related activities. During the G20 meeting, it is expected that occupancy rates will be 30-50 percent higher compared to previous months.
While room rates have doubled in most premium properties, some have seen prices soar up to four times their usual rates. Delhi’s hotel occupancy is projected to reach a decade-high of 70-72 percent, up from around 60 percent in 2014-15, according to Nishant Pitti, CEO and Co-Founder of EaseMyTrip.
Not only premium hotels but also 3 and 4-star hotels are witnessing increased bookings and higher room rates due to the supply-demand dynamics. “Hotels in Aerocity and other NCR regions are expected to receive a significant number of spill-over bookings, especially from media teams traveling to Delhi,” added MP Bezbaruah, Secretary General of the Hotel Association of India (HAI).
The revival of the hospitality sector, which was severely impacted by the COVID-19 pandemic, is being aided by the G20 summit. During 2020, the average hotel occupancy rate remained at 33-36 percent, leading hotels to reduce tariffs significantly. The G20 presents an opportunity for the hospitality industry to recover some of its losses, with major players poised to reap substantial profits.
