Motilal Oswal's research report on Indian Hotels
IHIN’s standalone RevPAR grew 27% YoY due to higher ARR. The same fell by 18% QoQ due to lower occupancy as well as ARR owing to the third COVID wave. Higher demand in the Leisure segment as well as a recovery in business travel has driven overall growth on a YoY basis. Revenue was in line, while EBITDA in 4QFY22 came in below our estimate.
Outlook
We maintain our FY23/FY24 EBITDA on account of the ongoing demand recovery in Business Hotels. We maintain our Buy rating with a SoTP-based TP of INR278 per share.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More
