India's hotels' mid-term demand outlook positive, says ICICI Securities

ICICI Securities

02/04/2025 11:22

** The medium-term demand outlook for India's hotel sector remains positive, ICICI Securities says

** Brokerage expects the hotels in its coverage universe to report double-digit RevPAR growth in Q4, as they did in Q3

** Sees annual recurring revenue CAGR of 6–8% over FY24–27, with 100-200 bps jump in occupancy in FY25 and FY26

** Reiterates "buy" on Indian Hotels IHTL.NS, Chalet Hotels CHAL.NS and Lemon Tree Hotels LEMO.NS

** Shares of IHTL, CHAL and LEMO ended 2%-3% higher on the day

 (Reporting by Ashish Chandra in Bengaluru)

 ((ashish.chandra@thomsonreuters.com (+91 7982114624))