Major events can send hotel rates sharply higher. But Delhi’s BRICS spike also shows how quickly hotel supply can get squeezed when demand arrives all at once.
Hotel rates in Delhi surged due to heightened demand for accommodations during the BRICS Summit.
Hotel rates increased by up to 4 times as room supply tightened with the influx of visitors.
Major events can quickly deplete available hotel rooms, leading to sharp increases in rates.
Travelers should book accommodations well in advance and consider alternative lodging options.