₹43,000 to ₹48,000 on 14 October, when India plays Pakistan. Ginger is a hotel brand under The Indian Hotels Co. Ltd (IHCL).
For perspective, IHCL’s average room rate (domestic) in the June quarter was ₹9,128. “Our checks with reservation desks of many hotels in bigger cities also indicate that occupancies for match days are already running high, which has resulted in rates rising sharply and rates are likely to mostly increase further closer to match dates," wrote Prateek Kumar, an analyst at Jefferies India in a report on 27 September. The rates on the non-India match days are high as well.
Understandably, investors are excited about hotel stocks. Shares of key hotel companies—IHCL, Chalet Hotels Ltd and Lemon Tree Hotels Ltd—are up by 29-60% in 2023 so far, also helped by strong demand seen in recent quarters. “We believe the hotel sector is yet to achieve its peak with further headroom for rates to grow in FY25.
This comes on the back of rise in business demand, sustained leisure demand and tailwinds from election related campaigning," said Prashant Biyani, an analyst at Elara Securities (India). Here, favourable demand-supply dynamics also help. Meanwhile, the cricket frenzy would mean the seasonally strong December quarter could be a stellar one for airlines this time, after potentially lower yield in Q2.
Yield here refers to the revenue a carrier earns per passenger per kilometre. “In Q3, InterGlobe Aviation’s yield is likely to be much better as benefits of World Cup and festive season may set in. But if the stiffness in crude oil price holds up, it may play spoilsport," said Jinesh Joshi, an analyst at Prabhudas Lilladher.
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