Jain bullish on hotel stocks like EIH

Jain said that the Tsunami disaster is unlikely to slow down the growth in certain hotel stocks. He told CNBC-TV18, "Tsunami will affect some of the beaches and the resorts which are there. But if you look at the Indian hotels, particularly the luxury hotels, and EIH, they are driven more by business travellers. With software and other sectors boooming, you see a lot of foreign tourist flow inside the country, and earnings of EIH is driven more by business travellers."

Jain explained, "The impact of the tsunami is not a lasting one. It's not like a terrorist attack that can recur. This happens once in a while and tourists are already visible on the beaches of Thailand. So it's a very temporary phenomenon, and will go away very soon. And it gives an opportunity to get into the hotel sector if some have missed it eearlier."