G20 Summit in Delhi drives hotel room price surge

The redeveloped and illuminated G20 logos installed at the nearest prominent footpath and road roundabout of Pragati Maidan on the occasion of the G20 Summit preparations, in New Delhi on August 28, 2023.
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With less than one week to go for the G20 Summit in Delhi, the hotel sector has experienced a notable increase in room bookings and service requests, with prices projected to reach unprecedented levels. Ajay Bakaya, Founder & MD, Sarovar Hotels & Resorts said that upscale hotels are fully booked and are commanding rates nearing Rs one lakh per day. However, he noted that mid-range hotels have yet to experience a surge in demand. Echoing the similar sentiments, Tarun Tahiliani, Country Manager, India, KAYAK said, “G20 Summit in New Delhi has spurred 51 per cent Y-o-Y surge in hotel prices, averaging ₹11,252, with hotel searches up by 20 per cent.”