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.”
