The 2011 Formula 1 Airtel Indian Grand Prix has led to inflated prices for hotel rooms and airline tickets. The airfares to Delhi have increased exponentially for travel in the last week of October. A return trip from Mumbai to Delhi has shown the highest spurt, with fares up by 100-200%. The fares range between Rs 15,000 to 22 ,000, up from the average Rs 7,000.

For the same period, the average hike for other sectors (Bangalore, Pune, Hyderabad, Chennai) to Delhi ranges between 20 and 25%, while flight and hotel packages are up by 50 per cent. The closest hotels to the event — Radisson Blu and Double Tree by Hilton — are sold out while hotels in the nearby Mayur Vihar and Greater Noida are asking for as much as Rs 30,000 per night.

Even though it was expected that the F1 event would drive up hotel and airfare prices, market watchers say the current scenario is unprecedented. Packages for the Singapore Grand Prix in comparison cost much less and include flight, airport transfers, three-star hotel accommodation with breakfast and a pass to roam around a specific area in the podium.