As the fervour surrounding the World Cup Cricket Championship sweeps across the Indian subcontinent, the nation’s hospitality sector is witnessing a remarkable surge in demand. In a scenario that can only be described as “Housefull,” hotels in the ten host cities of Ahmedabad, Bengaluru, Chennai, Delhi, Dharamsala, Hyderabad, Kolkata, Lucknow, Mumbai, and Pune have witnessed an unprecedented influx of enthusiastic guests.
“This has led to an astronomical increase in room rates, a development eagerly embraced by industry stakeholders as a justifiable exploitation of a rare and lucrative opportunity.“
In Lucknow, the hospitality industry is poised for an unprecedented boost, courtesy of the upcoming Cricket World Cup matches scheduled in the city. With the highly anticipated India-England match slated for October 29, the city’s hotels find themselves in a state of complete occupancy. This trend extends beyond the pivotal October 28 and 29 fixtures, with robust bookings being reported for matches on October 13, 16, 21, and November 3. Astonishingly, even as the wedding season approaches after November 22, hotel occupancy levels remain remarkably strong.
Chennai, a bustling hub for both leisure and business travelers, has seen a notable surge in hotel room rates in response to the ICC Cricket World Cup and its corresponding surge in demand. Though hotel occupancy hovers between 80-90%, the average room rates for three-star, four-star, and five-star properties have witnessed a notable upswing. A standard room in a three-star property now commands rates ranging from 12,000-15,000 INR during match season, while the tariffs for four-star establishments range from 18,000-23,000 INR. Five-star hotels, in particular, have seen their rates skyrocket to 25,000-50,000 INR per night.
Meanwhile, Mumbai has witnessed a staggering 40-50 percent increase in airfares during the period spanning October to November. The search for accommodations in the city has surged by a remarkable 154 percent. The tariffs for rooms in Mumbai have surged to 2-3 times their standard rates, with prices varying from 25,000 to over 50,000 INR per night. Pune, on the other hand, has emerged as a prime destination for cricket-driven tourism, registering a remarkable 169 percent increase in search queries. Accommodation rates in Pune range from 25,000 to over 50,000 INR per night, based on the searches made on Airbnb between January and June 2023.
Bengaluru, often referred to as India’s “tech city,” has transformed into a sports hub of significant importance, hosting numerous major sporting events, including the Indian Premier League (IPL). This has inevitably triggered a high demand for accommodations. Airfares on the Mumbai-Bengaluru route have soared to over 4,800 INR a week prior to the India-Netherlands match on November 12, and further spiked to 6,820 INR on match day. Hotel room rates on match day in Bengaluru fall in the range of 13,899-23,600 INR for the India-Netherlands showdown. A week prior, these rates hover between 17,700-20,945 INR.
The World Cup Cricket Championship has set India’s hospitality industry ablaze, with hotels and airlines alike capitalizing on the enthusiastic fanfare by elevating their rates. As the cricket fever rages on, this unprecedented demand surge promises a substantial windfall for the stakeholders in India’s bustling hospitality sector.