Indian hoteliers to report best-ever Q3 -Antique Stock Broking

Chalet Hotels

28/12/2022 09:46

** India's hospitality sector could record their best-ever
Q3 in terms of revenue, led by record-high average daily rates
(ADR), says Antique Stock Broking
    ** Demand will remain strong, as will margins due to record
average room rates (ARR), cost optimisation, brokerage says
    ** Hotel stocks have corrected by 20% from Oct peaks on
COVID-19 concerns, which the brokerage says is an opportunity to
buy
    ** Its top pick remains Chalet Hotels  CHAL.NS , while it
also has a "buy" on Indian Hotels Co Ltd  IHTL.NS 
    ** Adds if domestic COVID cases rise, local govts could take
preventive measures, but sees severe restrictions unlikely
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))