Hotel stocks abuzz on April occupancy rates

1514 Investors following Kamat Hotels. Share this News with them.

0

Like this story, share it with millions of investors on M3

Hotel stocks abuzz on April occupancy rates

Hotel stocks are checking in gains as the April data indicates improvement in occupany and room rates in several parts of the country, reports CNBC-TV18 Pankaj Poddar.

Post your opinion here

 

0

Tweet

Share on Tumblr

Hotel stocks are checking in gains as the April data indicates improvement in occupany and room rates in several parts of the country, reports CNBC-TV18 Pankaj Poddar.

Kamat Hotels , Orient Hotels , and Indian Hotels are up 4.5%, 3.07%, and 2.01% in trade today.

According to Crisil data, April occupancy rates have increased 67% year-on-year. There is an improvement in room rates in Delhi, Mumbai, Pune, and Kolkata.

However, there is a 10% dip in Bangalore, Goa, and Hyderabad room rates. Rates in Goa have been lower largely due to the weather. Room rates continue to fall by 2.7% year-on-year.

A number of brokerages are bullish on the sector. JP Morgan sees a potential upside of 30% on Indian Hotels. It sees a turn around for the entire sector in FY11.