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Axis Securities Report
The Indian Hotels Company Ltd., along with its subsidiaries, offers a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers, SeleQtions – a named collection of hotels; Vivanta – sophisticated upscale hotels; and Ginger – which is revolutionising the lean luxe segment.
Indian travel and tourism industry is pegged to report average room rate compound annual growth rate 11.2% and occupancy improvement by 400 bps to 70% during the period CY22E-CY24E. The said growth will be driven by-
easing supply-side constraints that would improve revenue per available room and occupancies,
the release of pent-up demand in domestic leisure travel, extended stays, weddings, and social events,
government delegations, and
spiritual and medical tourism.
Furthermore, the opening and increase in international travel could improve occupancies in the upcoming quarters. Against this backdrop, we expect significant improvement in India Hotels' realisations and occupancies, which in turn, would be further augmented by the strong operating leverage it enjoys among the industry peers.
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