AI Summit: Delhi Hotel Rates Soar to Rs 1 Lakh Per Night, Public Demands Price Ceiling

• Hotel prices in New Delhi have skyrocketed, with some suites costing Rs 20 lakh per night, due to the India AI Summit.
• A LocalCircles survey reveals exploitative pricing, with five-star hotels in central Delhi charging over Rs 60,000 and four-star rooms up to 10 times their standard rates.
• This trend mirrors previous price surges during major events like the 2023 Cricket World Cup and a Coldplay concert.
• 57% of consumers have experienced excessive hotel charging in the last three years, with 7% facing inflated prices almost every time.
• 71% of respondents demand government intervention with a price ceiling, and 74% call for a regulatory body to ensure fair pricing.