Boom in hotel industry due to G20 summit, demand for rooms, sharp rise in rents

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India The hosting of the G20 summit in 2015 has given relief to the hotel industry. Hotels Association of India (HAI) general secretary MP Bizbaroh has said that hotel room bookings and rentals in the country have now reached pre-pandemic levels. He said that the hotel industry has been relieved by the G20 summit and tourist traffic in metros. Because of the current supply and demand situation, room rents are sometimes slightly higher than pre-pandemic levels, Bezbaroh said. “I think there’s a lot of demand right now, not only from the G20, but also from tourists and people coming to the cities to see it all,” Bezbaroh said.

Due to demand, the rent increased.

He said that apparently the prices have increased due to the supply and demand situation in the market. He was asked what information HAI had received from its members on room demand and rental rates for the G20 summit. On the impact of higher demand on room rents and bookings, he said, “Basically what I can say is that demand and rents have come back to pre-pandemic levels. In fact, rents sometimes go up during pandemics.” are higher than the previous levels, but this is based on supply and demand.

Official guests will stay in big hotels.

When asked how much the room rent has gone up, he said there is no such thing as percentage in this industry. Some hotels charge special rates for the services they provide. Similarly, small and medium hoteliers collect their own rent. On the preparations for the G20 summit, he said that major branded hotels in metros are in touch with the government and all accommodation arrangements have been made in consultation with the government.

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