For instance, in 2023, shares of The Indian Hotels Co. Ltd (IHCL), Lemon Tree Hotels Ltd, and Chalet Hotels Ltd witnessed gains of 38%, 40%, and 100%, respectively.
Looking ahead to 2024, investors are keenly waiting for the December quarter (Q3FY24) results, with solid expectations. While a slight dip in occupancy rates is anticipated, this is expected to be offset by a rise in holiday travel, the ICC Men's Cricket World Cup, and the wedding season. Lemon Tree Hotels is set to benefit from the launch of Aurika Mumbai, and Tata group's IHCL, known for its Taj brand, is projected to achieve double-digit sales growth.
Additionally, Chalet Hotels, which includes JW Marriott and Four Points by Sheraton, is likely to see robust growth in Q3, driven by capacity expansion, operating leverage, and average room rate (ARR) growth.
The industry's ARR is poised for an uptick in Q4 with the resumption of business travel post-holidays. The period from January to March will also be buoyed by weddings and conferences.
Denne historien er fra January 10, 2024-utgaven av Mint Mumbai.
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Denne historien er fra January 10, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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