Manali Tourism Corridor: The Smartest Yield Play of 2025

Short-term rental yields in Himachal's Manali-Kullu corridor are pricing in a structural shift. The yield gap is 9.1-11.4% vs Goa's 6.8-8.2%, and the corridor's structuring complexity is exactly why the alpha is still capturable.

What to watch

Maintenance is meaningfully higher. OTA take-rates may compress. Section 118 structuring is real and not going away.