BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.Anand Rathi ReportWe expect Lemon Tree Hotels Ltd.'s Q2 FY24 to be on similar lines as Q1, as it sees demand rising. Its average room rate would grow ~10% YoY. We expect H2 FY24 to be very strong for the industry and the company due to the World Cup, the festival season, return of international travellers, ~80% occupancy and higher ARRs. Lemon Tree company is set to open its largest hotel, Aurika Mumbai (Mumbai International Airport, 669 rooms) by end-October 2023, ~14% of its current inventory. We expect it to report 26.3%/27% revenue/Ebitda compound annual growth rates over FY23-FY25. Hence, factoring in all the above, we raise our 12-month target price to Rs 150 (from Rs 110 earlier), valuing the stock at 20 times FY25e enterprise value/ Ebitda.Risks: Slow-down in the economy would curtail demand; vulnerable to external factors: terrorist attacks, epidemics, etc. Click on the attachment to read the full report:Bajaj Allianz Gets GST Demand Notice For Rs 1,010 CroreDISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.Users have no license to copy, modify, or distribute the content without permission of the Original Owner.