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IDBI Capital Report
In our monthly hotels update we will summarise key events of the domestic hotel industry, new hotels signing/addition by organised players and pricing trend for major cities. We have analysed average daily rate of 170 hotels with ~33,000 keys across key eight cities to understand the price trend.
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Our analysis suggests that barring Delhi, Mumbai and Chennai, pricing has been flattish to slightly lower for the month of September, 2023. G-20 summit at Delhi was the flavor of the month which boosted revenue per available room for NCR hotels.
We believe events like ICC World Cup, Miss World pageant finale and festive season would drive healthy revenue growth for the industry.
We like organised players in this space and have positive outlook on our coverage stocks viz Indian Hotels Company Ltd., Lemon Tree Hotels Ltd. and Chalet Hotels Ltd.
Click on the attachment to read the full report:
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