![Hotel stocks to find suite spot in medium term despite Q1 chill](https://cdn.magzter.com/1547192204/1719168551/articles/sOR24LVyIKMUrwiLyy3sys/HOTEL-STOCKS-TO-FIND-SUITE-SPOT-IN-MEDIUM-TERM-DESPITE-Q1-CHILL.jpg)
The top listed hotel companies reported robust revenue performance in the January-March quarter (Q4) of 2023-24 (FY24).
Boosted by high single-digit growth in room numbers and a similar increase in revenue per available room (RevPAR), the hotel sector achieved 20 per cent top line growth for Q4FY24.
However, growth in the April-June quarter (Q1) of 2024-25 (FY25) is expected to moderate due to general elections and adverse weather conditions. Despite near-term concerns, most brokerages remain optimistic about the sector's prospects. In the near term, the market will gauge demand trends from Q4 performance as well as the ongoing quarter (Q1). Commenting on Q4FY24 performance, Sharekhan Research reported that the average room rate (ARR) grew in the mid-single to low double digits (4 per cent to 13 per cent), while occupancies improved by 200 basis points (bps) to 440 bps year-on-year (Y-o-Y).
Lemon Tree Hotels was an exception, showing a 160-bp Y-o-Y decline in occupancy due to the launch of its Mumbai hotel property, Aurika.
Although ARR in Q4FY24 rose by high single digits, it was lower than the preceding quarter. This metric could further moderate in the current quarter.
This story is from the June 24, 2024 edition of Business Standard.
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This story is from the June 24, 2024 edition of Business Standard.
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