Indian hotel companies' rate momentum to sustain - Nuvama

Indian Hotels

21/11/2023 08:19

** Brokerage Nuvama expects rate momentum for Indian hotel
firms to remain robust after revenue growth largely aided Q2
margins 
    ** Adds premium-segment focused cos like Indian Hotels
Company  IHTL.NS , EIH  EIHO.NS  and Chalet Hotels  CHAL.NS 
outperforming the sector  
    ** CHAL, IHTL benefitted from G20 in Delhi - Nuvama analysts
  
    ** Brokerage says Lemon Tree Hotels  LEMO.NS  "top pick" on
start of debt pay-down phase, likely traction  
    ** Nuvama sees IHTL's India performance to sustain in Q3,
raises co's PT to 422 rupees from 417 rupees and retains "hold" 
    ** Shares of IHTL, CHAL and EIHO down between 0.1%-1.3%
while LEMO up 0.1% on Tuesday

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))