As the year draws to a close, revelers in India are willing to go to great lengths to ensure a lavish end to 2023, with reports indicating that some individuals are prepared to spend as much as Rs 7 lakh a night for a stay in luxury hotels on December 31.
Room rates for certain branded hotels across the country have reached unprecedented highs for New Year’s Eve, as Indians embrace the opportunity to spend the last night of the year in opulence.
“We have multiple queries for our Maharaja suite priced at Rs 7 lakh a night,” revealed Rajat Gera, the commercial director of Leela Palaces Hotels & Resorts. “There is an influx of inbound tourism, which had been pretty stagnant and inconsistent so far. Domestic travellers book late, and the influx of international tourists has led to rates going up substantially. Those who hadn’t planned in advance are willing to pay a premium.”
Properties of Leela Palaces Hotels & Resorts in Delhi, Jaipur, and Udaipur are experiencing record-high rents, with The Leela Palace Udaipur fully booked for December 31. During Christmas, room rates at the hotel exceeded Rs 1 lakh a night.
Simultaneously, DoubleTree by Hilton Goa-Panaji, Hilton Goa Resort Candolim, and DoubleTree by Hilton Goa-Arpora-Baga are witnessing historic highs in room rates. Akash Kalia, a representative from Hilton Hotels, attributed this surge to the reopening of international borders and the resumption of routes by international airlines, making Goa a “relevant” destination for New Year celebrations.
Akhil Arora, CEO of Espire Hospitality Group, confirmed that rates for the chain’s ZANA Lake Resort in Udaipur are higher than last year, with a two-night stay priced at Rs 55,000 plus taxes.
Vijay Thacker, managing director of consulting firm Horwath HTL India, noted, “Rates are probably at the highest than they have ever been for all leisure markets. What is driving the rates is a combination of the propensity to spend among people and market positivity. People are willing to spend on leisure and luxury experiences. International arrival numbers are also higher than last year for the luxury segment. It’s a demand-supply scenario.”
