HVS ANAROCK MONITOR, January 2026

Read the latest edition of the HVS ANAROCK monthly industry update, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry.

Key highlights include:

December 2025:

• December 2025 performance moderated on a sequential basis due to India air travel disruptions, with occupancy easing to 68–70% and ARR marginally softening to ₹10,000–10,200 (0 – 2% MoM). RevPAR declined by 6 – 8% MoM to ₹6,800 – 7,140 post November. However, underlying demand remained resilient, reflected in 7 – 9% YoY growth in ARR and RevPAR, supported by continued rate discipline and stable occupancy.
• Average rates in the period reflected a resilient year-on-year performance across India, with pricing momentum remaining even across almost all key markets. Bengaluru emerged as the strongest outperformer, recording the highest ARR growth at 20 - 25% YoY, driven by sustained corporate and commercial demand. Hyderabad followed closely, posting robust growth of 18 - 20% YoY, highlighting the continued resilience of South Indian markets.
• Occupancy at the national level reflected a largely stable year-on-year performance, indicating steady underlying demand despite market-level divergence. Chandigarh emerged as the strongest performer, recording the highest occupancy growth of 2 - 4 percentage points YoY.

Q4 CY2025

• In Q4 CY2025, India’s hotel sector saw a sequential recovery driven by festive and year-end demand, with occupancy rising to 66–68% and RevPAR improving 3–5% QoQ. Year-on-year performance remained strong, supported by stable ARR and healthy growth across key operating metrics.