Hotels, tour operators, and more: 4 Key sectors to benefit from Ram Mandir inauguration
Indian Hotels Co., ITC, Mariott, Lemon Tree, Trident, and Oberoi are also planning hotel openings in the area. ITC is opening a seven-star property, 12 km from the temple. Meanwhile, IHCL is building Vivanta and Ginger-branded hotels.
Shares IHCL have gained 8 percent just in January while EIH and EIH Associates have jumped 22 percent and 36 percent in this period. Lemon Tree Hotels also advanced 18 percent and Chalet Hotels added 9 percent in Jan 2024 so far. Apollo Sindoori Hotels also rallied 46 percent.
The hospitality projects are expected to add significant room capacity to accommodate the growing number of tourists and pilgrims visiting Ayodhya. The newly completed Ayodhya International Airport was inaugurated by Prime Minister Narendra Modi on December 30, 2023, and flight operations begin on January 10, 2023, ahead of the Ram temple opening. Ayodhya's Phase I of the new airport is operational, becoming a milestone in facilitating air travel to and from the city.
The airport's Phase I, built at a cost of approximately approximately $175 million, has an annual handling capacity of 1 million passengers. Meanwhile, Ayodhya's international terminal is expected to be operational by 2025. Once operational, Phase II of the airport is expected to handle around 6 million passengers annually.
InterGlobe Aviation Ltd.'s IndiGo started commercial operations in Ayodhya from Delhi and Ahmedabad. Meanwhile, ticket prices to Ayodhya airport have surged on the back of increased demand. Shares of SpiceJet have risen 5.33 percent in January after a 35 percent jump in December and a 23 percent gain in November 2023.
Read more on livemint.com
