Coldplay Effect? High Prices, Full Rooms at Mumbai Hotels

The average room rate at Mumbai hotels was up 21% to 23% in January, according to hospitality consultancy firm HVS Anarock. The report stated that Mumbai had the highest average room rate in the country, consistently exceeding INR 14,000 ($160) a night. 

“This surge could be attributed to the Coldplay concert drawing in a large crowd from across the country,” the report said. 

Despite the high rates, Mumbai hotels had an occupancy rate of 82% to 84% during the month, a marginal improvement over last year. 

Last September, the announcement of Coldplay’s concerts had driven the prices to as high as INR 640,000 ($7,600) for three nights, Skift had reported. All major branded hotels, including Taj The Trees, JW Marriott in Sahar and Juhu, The Westin in Garden City and Powai Lake, Four Seasons Hotel, The St. Regis Mumbai, and The Oberoi Mumbai were listed at over INR 150,000 ($1,800) for three nights during the concerts. 

New Inventory in Tier-3, But Signings Much Lower: In January, a total of 9 hotels were signed with 561 keys. That was a big drop from last January, when 22 new hotels wi