25-year-old Jyoti Seth was a gold smith and resident of Varindavan garden in Amritsar.
"He took a room on rent in the hotel here last night but did not open the door this morning following which the hotel authorities informed police. The youth was found dead when the hotel staff and police broke into his room," police said.
A suicide note was recovered from his room in which he mentioned the names of 10 people from whom he had taken money, on the basis of that, a case has been registered against them, police said.
The body was handed over to the relatives after postmortem, police added.