1、IndiaHospitality IndustryOverview 2025The Oberoi Rajgarh Palace,KhajurahoContentsDevelopment Analysis34Outlook50Executive Summary 06Foreword 04Mandeep S.LambaPresident&CEO(South Asia),HVS AnarockAkash DattaManaging Director(South Asia),HVS AnarockDipti MohanVice President&Head,Research&Corporate Com
2、munication(South Asia),HVS AnarockDhwani GuptaAssociate,Research(South Asia),HVS AnarockAdit AtroleySenior Associate Consulting&Valuation(South Asia),HVS AnarockKEY CONTRIBUTORSTravel&Tourism10Performance Analysis22India Hospitality Industry Overview 2025India Hospitality Industry Overview 20250405M
3、andeep S.Lamba President&CEO(South Asia)HVS ANAROCKThe Indian hospitality sector continued its remarkable journey through 2025.If 2023 was the year of recovery and 2024 the year of acceleration,2025 was the year that proved the momentum was by no means accidental.The steady and resilient performance
4、 of the sector,absorbing multiple shocks along the way,has now become structural instilling confidence among stakeholders in its long-term investment and growth trajectory.2025 tested this structural strength with disruptions at regular intervals,including unrest in our neighbourhood in Bangladesh,g
5、eopolitical tensions in the Middle East,the IndiGo aviation shocker,and an unprecedented and unseasonal severe monsoon in parts of the country.And yet,ARRs grew 8-10%and RevPAR by 10-12%.New hotel signings hit an all-time high at over 64,000 keys a robust 36%growth over last year while domestic trav
6、el scaled to a staggering 4.5+billion visits.While earlier cycles were occupancy-led,the current cycle is rate-and margin-led,signalling a gradual move toward sectoral maturity.The narrative has shifted from survival and recovery to strategy and return calibration.Demand for hotel rooms is being red