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Indian Hospitality Q1 Results Preview — 'Buy' Lemon Tree, 'Reduce' EIH Lists Yes Securities Among Others

Yes Securities maintains its positive view on the Indian Hospitality industry and remain constructive on the sustainable industry upcycle.

<div class="paragraphs"><p>Momentum in average room rate growth has continued for Q1, albeit, with some moderation.</p><p>(Photo source:Unspalsh)</p></div>
Momentum in average room rate growth has continued for Q1, albeit, with some moderation.

(Photo source:Unspalsh)

At an industry level, April witnessed strong momentum with 11-13% ARR growth YoY and 4-6% increase in occupancy, resulting in revenue per available room growth of 20-22% across the industry. May revealed a noticeable dip in occupancy YoY, reflecting seasonal softening combined with geopolitical tensions dampening travel demand.
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