No rooms at Delhi's top hotels as BRICS Summit sends tariffs soaring

Planning a stay at one of Delhi's luxury hotels around the BRICS Summit could come with a staggering price tag. Several marquee properties are already showing no availability for key dates, while rooms that remain available are being offered at tariffs running into six figures a night.

A check of hotel booking platforms for September 11-13 showed no rooms available at Taj Mahal and Taj Palace in New Delhi. The Oberoi, New Delhi, was sold out for parts of the period, while The Leela Palace New Delhi was not accepting bookings for the specified dates.

Meanwhile, available rooms at properties including ITC Maurya, New Delhi, and Shangri-La Eros New Delhi were commanding exceptionally high tariffs ahead of the September 12-13 BRICS Summit.

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The surge highlights the pressure on Delhi's luxury hotel inventory as the two-day geopolitical event draws delegates and visitors to the capital. Demand is being spread across several days, with travellers arriving before the Summit and extending their stays afterwards.

BRICS Summit drives demand for Delhi hotels

The limited availability could pose a challenge for tourists, business travellers and families who had already planned trips to Delhi during the period.

Those looking to stay at marquee properties may now have to pay a substantial premium, search for accommodation farther away from central Delhi, alter their travel plans or opt for lower-priced hotels.

According to Nikhil Sharma, Managing Director & COO, South Asia, Radisson Hotel Group, demand and room rates have already gained momentum ahead of the event.

"September is showing stronger momentum, with average room rates across our portfolio pacing more than 25 per cent higher year-on-year. The upcoming BRICS Summit in New Delhi is contributing to heightened demand, particularly in the days around the event, with shorter booking windows further supporting rate growth," Sharma told PTI.

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He added that demand could remain strong as the Summit approaches, with more travellers likely to make last-minute bookings closer to the event dates.

Six-figure tariffs as luxury room inventory tightens

Large international and domestic events are particularly important for the luxury and Meetings, Incentives, Conferences and Exhibitions (MICE) segments, which benefit from concentrated demand for hotel rooms, meeting spaces and other hospitality services.

For Delhi's hotel market, the BRICS Summit is emerging as a major demand driver, particularly at the upper end of the market where room inventory is limited and concentrated around key business and diplomatic districts.

The event also comes at a time when Indian hotels are looking towards events-led travel and domestic demand amid a challenging period for international travel due to geopolitical tensions, including the West Asia conflict.

However, the high tariffs currently being displayed should not be seen as fixed rates. Hotel room prices and availability are dynamic and can change rapidly depending on bookings, cancellations and fresh inventory released by properties.

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Room tariffs and availability are subject to change.

With PTI inputs