Hotelivate’s 2026 trends report released Thursday shows Delhi and Mumbai now leading India’s hotel market, with average RevPARs of ₹9,811 and ₹9,761, eclipsing the spiritual hubs of Ranthambore and Rishikesh.
In FY 2024‑25, Ranthambore led at ₹9,649, followed by Rishikesh at ₹9,583, while Delhi and Mumbai lagged at ₹8,846 and ₹9,458.
The shift signals a revival of corporate travel and MICE activity, as business delegations and conference bookings climb in the two metros.
Hotelivate also notes a sharp 51.9% decline in RevPAR at Srinagar, reflecting fallout from the April terror attack, while Varanasi jumps to fifth place with ₹8,857, up from ₹6,769.
The report projects a 41% increase in India’s hotel room pipeline, from 1.1 lakh to 1.6 lakh over the next five years, that could push branded inventory by 77% to roughly 3.7 lakh rooms.
The expansion is expected to cement Delhi and Mumbai’s top‑tier status, while Jaipur may overtake Chennai as the fifth largest market, Hotelivate predicts.