Indian hotel firms to post upbeat Q4 results, says Investec

Lemon Tree Hotels

10/04/2024 10:38

** Investec expects all Indian hotel firms in its coverage
to post upbeat Q4 results "supported by the wedding season,
increased leisure demand"
    ** Expect Lemon Tree Hotels  LEMO.NS  to deliver highest Y/Y
rev growth in Q4 at 28.4% vs peers Indian Hotels Company
 IHTL.NS  and Chalet Hotels  CHAL.NS  at 21.2% and 22.2%,
respectively
    ** Margins seen stable for IHTL, CHAL on strong base, flags
pressure for LEMO due to co's new launches, ongoing updates
    ** Investec downgrades CHAL to "hold" after stock rises 18%
in one month, retains "buy" on LEMO, "hold" on IHTL 
    ** Investec raises TP for all three firms, all of which are
rated "buy" on an average, per LSEG data 
    ** In late trade, CHAL, LEMO up 1.1% and 1.6% while IHTL
largely flat   

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