Jefferies cuts PT for Indian hotels citing slower growth amid Iran war

ITC Hotels

07/04/2026 08:05

** Jefferies expects revenue per available room growth to moderate to 5-7% in Q4 from 12-13% in Q3; slip to low-single pct digits Y/Y growth in Q1

** Brokerage says revenue impact reflects disruption to inbound traffic from the Iran war

** Brokerage says earnings cuts will be sharpest for airlines, followed by hotels and airports, reflecting varying degrees of exposure to global travel flows

** Jefferies cuts its target prices on Indian Hotels IHTL.NS, Chalet Hotels CHAL.NS and ITC Hotels ITCT.NS

** Cuts PT on IHTL to 800 rupees from 900 rupees; CHAL's PT reduced to 910 rupees from 1,075 rupees

** PT on ITCT cut to 210 rupees from 250 rupees

** ITCT down 1.7% after falling as much as 3.8%; CHAL, IHTL trading flat

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))