2023 in review- Indian Hotels, EIH, Lemon tree share price see gains of up to 41.5%, Chalet share price doubles.

livemint.com:

Indian Hotels Company , EIH , Lemon Tree Hotels while have risen to 40.5% during 2023 till date while Chalet Hotels has seen its stocks price almost grow two times. Indian Hotels and Chalets Hotels are trading near 52 week highs scaled during December.

ITC too has recorded gains of up to 37.5% during 2023. Overall Hotels stocks have given stellar returns to investors during 2023.and momnetu The gains in share prices for hotels have been driven by strong recovery in their earnings during the last one-year post easing of Covid concerns and pick up in the economic activities.

Further after a seasonally weak second quarter, the events such as G20 Summit, Men’s Cricket ODI World Cup, wedding season and the festive season improved earnings outlook and pushed up investor sentiments. Also Read-Choice Broking's Sumeet Bagadia picks Torrent Pharma as top Christmas pick; here's why The Industrywide data for Hotel Industry in India suggests Average Room rate growth remained in double-digit year on year (YoY) in November-2023 at 16% YoY, similar to October-2023, said analysts at Jefferies India Pvt Ltd.

The YoY growth in RevPAR (revenue generated per available room), though, sharply slowed to 8% YoY in November-23 versus 28% YoY growth seen in October-23, on YoY decline in occupancy by 460bps in November, which analysts at Jefferies said is likely attributable to a difference in the timing of festivals year on year. However the data suggests that RevPAR growth for the month of October-November combined would be upwards of mid teens growth year-on-year, inline with the guidance of most major Hotel peers in India (including Indian Hotels), also near the growth seen in first half FY24 period, said analysts.