Why are hotel prices rising in Ahmedabad ahead of Ind vs Pak World Cup clash? Hoteliers explain | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ News / India/  Why are hotel prices rising in Ahmedabad ahead of Ind vs Pak World Cup clash? Hoteliers explain
BackBack

Why are hotel prices rising in Ahmedabad ahead of Ind vs Pak World Cup clash? Hoteliers explain

ICC announced India vs Pakistan match on Oct 15 at Narendra Modi Stadium in Ahmedabad. Hotel prices in Ahmedabad have shot up more than 10 times due to high demand from cricket fans.

Luxury hotels now range from ₹40,000 to ₹1 lakh per room in the duration of India-Pakistan match (ICC)Premium
Luxury hotels now range from 40,000 to 1 lakh per room in the duration of India-Pakistan match (ICC)

The ICC has recently announced that India and Pakistan will go head to head in a thrilling encounter at the Narendra Modi Stadium in Ahmedabad on October 15. The excitement is palpable among cricket fans around the world, with hotel rates in Ahmedabad skyrocketing more than tenfold during the match dates.

Prices of luxury hotels in Ahmedabad have gone up from an average of 5,000-8,000 per room to 40,000 and 1 lakh in some places. Furthermore, excessive demand has led to the non-availability of rooms at all five-star hotels in Ahmedabad, including the ITC Narmada, the Courtyard by Marriott, the Hyatt and the Taj Skyline Ahmedabad.

Saurashtra Chamber of Commerce president Nalin Zaveri explained the reason behind the hotel rate hike in Ahmedabad to news agency ANI. With many people from outside the city visiting especially for the marquee event, Zaveri said there is a clear demand and supply gap with hotels in the city having a maximum capacity of 1,32,000.

PTI quoted Hotels and Restaurants Association (HRA) – Gujarat officials as saying that the hotel prices in Ahmedabad have risen mostly due to the demand from NRIs and upper middle-class cricket fans from other states. 

HRA-Gujarat spokesperson Abhijeet Deshmukh had said to PTI, “If the hoteliers think that the demand is very high for a particular period, they will try to make some revenue because they are assured that rooms will be full despite higher rates. Once the demand drops, the room rentals will also come down,"

Deshmukh also noted that while the prices of luxury hotels have skyrocketed, the prices of budget hotels have not seen such a hike as these hotels are preferred by middle-class cricket fans who make their decision to watch the match at the last moment.

(With inputs from agencies)

 

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 30 Jun 2023, 10:30 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App