Planning a Mumbai stay this week? Jewellery expo sends hotel prices soaring

The Taj Lands End in Bandra West, where the booking rate on Sunday for a room for two for August 9 was R17,037. Representation Pic/iStock

Hotels across Mumbai, especially those near the airport and in Bandra-Kurla Complex (BKC), are set to see a decrease in room availability and an increase in prices amid heightened demand ahead of a major jewellery trade exhibition to be held in the city from August 5 to 10.

The six-day event, organised by the Gem and Jewellery Export Promotion Council (GJEPC), will be held simultaneously at the Jio World Convention Centre in BKC and the Bombay Exhibition Centre (NESCO) in Goregaon.

A senior hospitality executive said, "The event is expected to attract 10,000 to 20,000 exhibitors, buyers, and trade visitors from India and abroad, triggering heightened demand for hotel rooms across the city." Five-star facilities Sofitel Mumbai BKC and Trident Bandra Kurla are already marked "fully booked" on the event's official hotel booking portal, and, are simultaneously listed as available but with apparent surge prices on online platforms such as MakeMyTrip and Agoda.

Aurika Mumbai by Lemon Tree Hotels. Pic/By Special Arrangement

‘This is a busy window'

Abhineet Chandra, director of operations at Aurika Mumbai by Lemon Tree Hotels, said, "We are experiencing high demand from August 3 to 8. This is one of those select few yearly windows when hotels across the city see surplus demand due to large events. This time the demand is driven by the gem and jewellery event."

Spontaneous accommodation hit

The cost of a room at Fairmont hotel in Andheri East is Rs 18,000 for August 6. File Pic/Ashish Raje

Industry observers said such large-scale business events provide a significant boost to Mumbai's hospitality sector, benefiting hotels, restaurants, transport operators and other allied services. However, they also make it difficult for consumers to find spontaneous accommodation (booking a place to stay at the last minute) near the city's commercial hubs during the exhibition period.

‘Beneficial for hospitality industry'

Travel agents and hospitality industry executives said the annual jewellery exhibition routinely creates one of the biggest spikes in hotel occupancy in Mumbai. It is one of the few such events which are hosted at the city's most desired venues. Rooms are often blocked by exhibitors and international buyers months in advance, leaving little availability for last-minute corporate travellers or tourists. "Hotels across various budgets see maximum bookings paired with demand-driven surge pricing during these events. Every year, this jewellery exhibition takes place around these dates in August and leads to heightened demand," said a senior hospitality executive.

Agent speak

Vikrant Hankare, director, Rajas Travels
‘Occupancy at hotels in and around Bandra-Kurla Complex has increased. Currently, fewer rooms are available in premium categories. One factor is these events. Another factor is the limited number of hotels in BKC. Whenever large events like these take place, the availability of hotel rooms decreases, even we [in the B2B line] have to plan ahead. Otherwise, we also end up with surge pricing and unavailability of rooms'

Consumer's account

A suburban Mumbai resident
‘I've been recovering from a recent back surgery. I had to move out of my home to a nearby hotel in Vile Parle for a fortnight as major elevator repairs were scheduled at my building. On approaching various hotels, I was told that rooms were available for my entire stay except the nights of August 5, 6, and 7. When I showed one of the hotels that rooms were available for these three nights on various travel websites, I was told that the rates for those particular dates would be exorbitant. They were well over 50 per cent of the normal tariff. At last, I had to book another hotel for these three days where a room was available but at surge pricing.

Rs 23,600
Booking rate for a room for two for August 6 at the Fairmont hotel on Sunday

Rs 54,754
Booking rate for a room for two for August 6 at Sofitel on Sunday

Starting prices for a room for two on MakeMyTrip on Sunday

Hotel August 3 August 6 August 9
Sofitel Mumbai BKC Rs 13,098 Rs 54,754 Rs 15,930
Fairmont Mumbai near T2 Unavailable Rs 23,600 Rs 15,340
Taj Lands End, Bandra West Rs 13,467 Unavailable Rs 17,037