Hotels in Noida and Greater Noida are witnessing robust demand ahead of two international events, with the effect that room rates have risen appreciably. The IndianOil Grand Prix of India, the official name of the Indian fixture on the MotoGP calendar, runs from September 21 to 24, including pre-race events. The race will be held at the Buddh International Circuit in Greater Noida. The UP International Trade Show, the state’s first, is scheduled for September 21 to 25 at the India Expo Centre and Mart, again in Greater Noida.
The upward spiral in hotel tariffs has spilled over to adjoining areas like Ghaziabad, Kaushambi and Vaishali in Uttar Pradesh, and parts of Delhi. Visitors are also choosing alternative options like Airbnb rooms.
MotoGP enthusiast Arbind Chakraborty, a resident of Gurugram, has taken the Airbnb route due to the high room rates. “I started hunting for rooms three months back for the MotoGP event but to my surprise hotels were charging Rs 8,000 to Rs 15,000 per night at that time. Now the prices are even higher, ranging up to Rs 25,000 per night. I have to stay for two days so I decided to book an Airbnb room 18 km from Buddh International Circuit,” Chakraborty said.
Chakraborty is not alone. A participant of the international trade fair said that he too booked an Airbnb in Noida for five days as hotel tariffs were too rich for his blood. “Some reputed hotels are charging over Rs 25,000 to 30,000 for one night so I preferred to book an Airbnb in Noida Sector 168,” he said.
Interestingly, it will be after a decade that any international racing event will be held at the Buddh International Circuit, the last one being the Formula 1 race in 2013.
High tariffs
According to representatives at Crowne Plaza Hotel in Greater Noida, the property is almost at full occupancy as it is hosting a number of VIP guests of these events.
“We are almost sold out between September 21 and 26. A number of high-profile businessmen, VIP guests and foreign visitors would be staying at our hotel. Representatives of the MotoGP event would also be staying here so we are currently running at very high occupancy,” Crowne Plaza general manager Sharad Upadhyay told Moneycontrol.
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Manoj Gaur, CMD, Gaurs Group, which runs Sarovar Premiere hotel in Noida Extension, confirmed the surge in demand for rooms in Noida and Greater Noida. “This heightened demand indicates the buoyancy in the area’s hospitality industry. Additionally, as the Expo dates draw closer, there will be a further uptick in activities. It will boost the market,” he said.
A representative at Radisson Blu hotel in Greater Noida, requesting anonymity, said that the hotel is almost sold out on the event dates and only a few suits are available, which too are going fast.
The ripple effect
Rakesh Kumar, chairman of India Exposition Mart Limited (IEML), which is co-hosting the trade fair along with the state government, said that hotels in Greater Noida and Noida are trying to cash in on the opportunity and charging high tariffs due to which people are preferring hotels in nearby Kaushambi, Ghaziabad and Delhi. He said that some occupancy is left at the ExpoInn Suites and Convention, which is located at the trade fair venue but other hotels of the city are either full or charging very high rates.
“Hotels in Greater Noida and Noida are charging three to four times above the normal rates because of bike racing event and trade fair. Due to this, hotels in nearby areas like Kaushambi, Vaishali and Ghaziabad are filling fast as tariffs there are not as high,” Kumar said.
Crowne Plaza’s Upadhyay also said that since the tariff is higher than normal, reputed hotels in Kaushambi, Vaishali and parts of Delhi are getting good traction. “People are also choosing hotels in these areas as well due to proximity to Greater Noida and also relatively affordable prices,” he said.
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