The recent announcement by the ICC has confirmed that India and Pakistan will engage in an exhilarating clash at the Narendra Modi Stadium in Ahmedabad on October 15. This news has sparked immense excitement among cricket enthusiasts globally. Such is the anticipation for the match that hotel rates in Ahmedabad have surged significantly, reaching more than ten times their usual prices during the dates of the match.
Luxury hotel prices in Ahmedabad have experienced a substantial surge, with rates skyrocketing from an average of ₹5,000-8,000 per room to ₹40,000 and even ₹1 lakh in certain establishments. The heightened demand has resulted in a scarcity of available rooms at all renowned five-star hotels in Ahmedabad, including the ITC Narmada, Courtyard by Marriott, Hyatt, and Taj Skyline Ahmedabad.
Nalin Zaveri, the President of the Saurashtra Chamber of Commerce, provided insight into the reasons behind this surge in hotel prices. With a significant influx of visitors from outside the city, particularly for the highly anticipated India-Pakistan match, there exists a clear disparity between demand and supply. Ahmedabad’s hotels have a maximum capacity of 1,32,000, which contributes to the scarcity of available rooms during this time.
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According to officials from the Hotels and Restaurants Association (HRA) – Gujarat, the surge in hotel prices in Ahmedabad can be attributed primarily to the demand from NRIs (Non-Residential Indians) and upper-middle-class cricket fans from other states.
Abhijeet Deshmukh, a spokesperson for HRA-Gujarat, explained that when hoteliers perceive high demand for a specific period, they tend to increase prices to generate more revenue, as they are confident that the rooms will be fully booked despite the higher rates. However, once the demand decreases, the room rates are likely to decrease as well.
Deshmukh further mentioned that while luxury hotel prices have experienced a significant surge, budget hotels have not witnessed such an increase. This is because middle-class cricket fans, who often decide to attend the match at the last moment, typically prefer budget accommodations.