HVS ANAROCK MONITOR, December 2025

January 5, 2026
By Dipti Mohan , Dhwani Gupta , Shivansh Agarwal

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:

In November 2025, India’s hotel sector recorded a strong performance with occupancy rebounding to 72 - 74% alongside sharp ARR growth (15 - 17% MoM and 10 - 12% YoY), led by robust demand across key metro and leisure markets.
Average rates in November 2025 recorded a strong year-on-year increase across India. Most major markets posted healthy double-digit growth, reflecting sustained pricing momentum entering the peak season except Goa which saw a year-on-year decline.
Occupancy at the national level recorded a modest year-on-year improvement in November 2025, indicating stable demand conditions despite variations across regions. Growth was largely metro-led, with strong gains in Pune, Ahmedabad and Chennai.

About Dipti Mohan

Dipti Mohan, Vice President - Research & Corporate Communication with HVS South Asia, is a seasoned knowledge professional with extensive experience in research-based content creation. She has authored several ‘point of view’ documents such as thought leadership reports, expert opinion articles, white papers, and research reports across industries including hospitality, real estate, infrastructure, cement, and construction. Contact Dipti at [email protected].

About Dhwani Gupta

Dhwani Gupta, Associate - Research with HVS South Asia, studied literature for her undergraduate and believes that you can do anything with the right amount of research. After graduating, she pursued a course in Management and Liberal Arts which gave her a wider perspective of the world. As a result, the more difficult a topic is, the more fun she has writing it. Contact Dhwani at [email protected]

About Shivansh Agarwal

Shivansh Agarwal, Research Analyst at HVS South Asia, holds a degree in Electronics and Instrumentation Engineering. With a strong passion for research and consulting, he brings a unique technical perspective to his work. During his time at Manipal, Shivansh was actively involved in the Consulting Club, serving as Vice President, which further fueled his interest in problem-solving and strategic analysis. His ability to blend technical knowledge with research-driven insights makes him a valuable contributor to the team. Contact Shivansh at [email protected].

Summary
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This is a monthly industry update that highlights the key trends in the Indian hospitality industry.

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