Getting a hotel booking on dates when the British rock band Coldplay is due to perform in January will be nearly as challenging as getting the entry ticket for the performance itself.
Four- and five-star properties, not only in Navi Mumbai where the event is scheduled, but also in Mumbai either do not have any rooms available for booking for January 17-19 or have hiked prices by 10-15 times compared to the regular prices.
The four-member band is set to perform at the DY Patil Stadium in Navi Mumbai on January 18, 19 and 21. The show was originally for two concerts on January 18 and 19 but a third concert was added (January 21) later. The event has received an unprecedented response from fans following the opening of tickets a few days ago.
While Vivanta by Taj, Navi Mumbai is out of rooms for the given dates, the only room available at Four Points by Sheraton, Navi Mumbai is the Executive Suite priced 15 times higher at Rs 1.8 lakh per night compared to Rs 12,500 per night.
A night at the luxury room at the Marriott Executive Apartment, Navi Mumbai is being sold at Rs 1.9 lakh as against its regular rate of Rs 12,500. Similarly, other branded properties like ITC’s Fortune Select Exotica and The Fern Residency have hiked their rates by up to 15 times from their normal price band of Rs 7,000-10,000.
Following the opening of the Atal Setu, Mumbai is now better connected to Navi Mumbai. Market watchers say that this is also a reason behind the surge in Mumbai hotel rates for the concert dates.
While the luxury property Sofitel BKC, Mumbai does not have the base rooms available for the given dates, its suites are selling at a premium of 50%, priced at Rs 34,000. Likewise, the premier room at the Trident BKC, Mumbai, is priced 60% more at Rs 22,000 per night on the said dates.
“Unlike Mumbai, Navi Mumbai is a much quieter hospitality market. Room rates have never crossed even Rs 50,000 per night in the past for the most expensive rooms. Hoteliers clearly do not wish to let go of this opportunity,” said a senior executive of a hotel- developing company.
Air fares to Mumbai have also shown a spike for the concert dates, according to data on the booking sites of individual airlines. A Delhi to Mumbai non-stop flight during peak hours (8.00am to 10.00am) is available at Rs 6,000 as against Rs 4,400. A Bengaluru to Mumbai direct flight is available at Rs 6,100 as compared to the normal rate of Rs 3,800.
The frenzy for Coldplay’s concert saw 13 million fans trying to get their hands on the 150,000 tickets available on BookMyShow. This overwhelming rush also led to the crashing of the booking site seconds before the tickets went on sale.
From: financialexpress
Financial News
