The ongoing Indian Premier League (IPL) 2024 is driving domestic tourism as cricket fans flock to stadiums to support their favourite teams, pushing up hotel and flight bookings, airfares, and room tariffs in host cities.
According to Thomas Cook India, online searches for travel during the IPL months are up 25 per cent when compared to last year.
“Given that cricket is a passion, if not a religion, for most Indians, demand is not restricted to cricket aficionados from young India, but also extends to ad-hoc groups. Our data indicates that customers are also spending a day or two before or after the matches to explore the cities,” said Rajeev Kale, president and country head – holidays, MICE, visa at Thomas Cook (India) Limited.
Demand remains strong not just in metros hosting the matches, but also in smaller cities like Jaipur, Mohali, Dharamshala, Lucknow, Guwahati, and Ahmedabad – many of which are home cities of teams like Rajasthan Royals, Punjab Kings, Lucknow Super Giants, and Gujarat Titans.
“Hotel tariffs are witnessing a surge of approximately 20 per cent as compared to last year, with hotel occupancy, especially for significant matches already over 80 per cent,” Kale said.
Hotels across key cities to host matches are anticipating increased occupancy on match days.
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“It’s that time of the year again when the cricket frenzy has taken over the city. Owing to our proximity to the historic M Chinnaswamy stadium, we anticipate reaching an occupancy rate of 12-15 per cent on match days in the city,” said Rajan Malhotra, commercial director at Conrad Bengaluru.
Bengaluru is the home city of Royal Challengers Bengaluru, a star-studded team that also has former India captain and talismanic batter Virat Kohli in its ranks.
In its fourth quarter preview, Elara Securities stated that IPL was among the key events that took place in the quarter and would drive average room rate (ARR) growth in the sector.
“Strong economic growth (in the range of 6.5-8 per cent in Q4FY24E), as well as MICE, has been key demand drivers for business destinations. We expect ARR growth to be Rs 15 per cent in Q4FY24E, driven by dynamic pricing. The Miss World Contest, various pharmaceutical events & conferences, Ed Sheeran, and IPL are among the key events that took place in Q4,” the brokerage said.
The flight bookings and airfares are also seeing a surge as the cricket fervor peaks. According to travel platform Yatra Online, flight bookings have surged 10 per cent, while hotel searches are experiencing a 15-20 per cent uptick, with a notable 10-15 per cent increase in bookings. As the tournament progresses, many fans hold off bookings until the last minute, further driving up fares.
“For last-minute travellers, airfares spike by 15-20 per cent within 7 days of match days, while bus bookings surge by 10 per cent and searches escalate by 15-20 per cent. The game is on, and the numbers speak volumes, highlighting the changing landscape of travel during sporting events,” said Bharatt Malik, senior vice president- air and hotel business, Yatra Online.
As the thrill and excitement pique, the travel industry will continue to reflect the cricket-crazy fans’ fervour.