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F1 rush drives Greater Noida hotel rates to Rs 40,000/night NEW DELHI: The traditionally low occupancy Diwali time has become a mega moneyspinner for hotels in Noida and Delhi this year. The first ever Formula 1 Airtel Indian Grand Prix at Greater Noida, slated for the festive weekend, has led to all nearby five-star hotels getting sold out. The three-day event, which kicks off on October 28, has sent tariffs shooting up to Rs 40,000 a night in five-star properties in Mayur Vihar, Noida and Greater Noida. Hotel staff say teams and organizers have booked rooms for as long as a fortnight for the event, which is making its India debut. Sooraj Jha, GM of Radisson Blu, Greater Noida, the closest five-star to the motor sport venue, says their 175-room property has been sold out for the event dates. Being the first F1 event in India, it is generating a lot of interest. While teams like to be as close to the venue as possible, Delhi hotels are also chipping in to meet the demand. We sold out a long time back for those dates at substantially different tariffs than what people with inventory can get today. It was a business decision we took earlier and are not repenting it, Jha said. The only other five-star resort in Greater Noida, which belongs to the Jaypee Group, is also learnt to be in demand at unprecedented tariffs. Similarly, around 150 of the 190-odd rooms at Hiltons new DoubleTree have been booked for a fortnight for around Rs 30,000 a night-nearly four times the average tariff of Rs 7,500. Back |
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