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Q2 Result Review: Hotel sector maintains momentum in Q2FY24 with strong RevPar growth, says Nuvama; Lemon Tree top pick
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Chalet Hotels, and EIH—clocked revenue per available room (RevPar) growth of 15%-plus year-on-year (YoY) (roughly 45% higher than Q2FY20). “Despite Q2FY23’s high base, the sector sustained its momentum with IHCL/EIH/Lemon Tree/Chalet clocking RevPar growth of 28%/23%/16%/25% YoY," the brokerage said in its report.
The premium segment-focused companies, IHCL, EIH, and Chalet, outperformed the sector, as highlighted by the domestic brokerage. Secondly, revenue growth drove improved margins despite rising costs, and thirdly, Delhi outperformed other cities due to the G20 kicker.
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