JPM begins coverage on Indian Hotels with 'overweight'; shares rise

Lemon Tree Hotels

25/06/2025 05:16

** Indian Hotels IHTL.NS climbs 2.6% to 784 rupees

** JP Morgan begins coverage on hotelier with "overweight" and PT of 890 rupees

** IHTL's underlying fundamentals "remain strong," brokerage says; sees IHTL's FY30 targets being delivered ahead of schedule

** While traditional brands (Taj, Vivanta) contribute lion's share (~70%) of revenue, JPM expects revenue contribution from Ginger and its airline catering joint venture Taj SATS to grow to 25% by FY28

** Avg rating on IHTL, peers Lemon Tree LEMO.NS and Chalet Hotels CHAL.NS at "buy" - data compiled by LSEG

** YTD, IHTL and LEMO down ~11%, CHAL declines 7%

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))