Hotel stocks likely to stay buoyant as occupancy rates top pre-Covid level
Business

Hotel stocks likely to stay buoyant as occupancy rates top pre-Covid level

By Dan Neff

Among listed players, Indian Hotels and Lemon Tree Hotels are likely to record higher earnings given their strong balance sheets and cost-efficiency.

Synopsis

According to various estimates by brokerages and research firms tracking the hospitality sector, the average occupancy rate touched 66% at the end of the June 2022 quarter. The occupancy was at 66.1% in 2019. Factors such as improvement in leisure travel, steady demand from corporate travel, and large events and conferences have contributed to the improvement in occupancy.

ET Intelligence Group: India’s hotel sector is on the verge of a turnaround as business and leisure travel gather momentum. The average occupancy rate, considering several key destinations, has surpassed the pre-pandemic level.

According to various estimates by brokerages and research firms tracking the hospitality sector, the average occupancy rate touched 66% at the end of the June 2022 quarter. The occupancy was at 66.1% in 2019. Factors

BY

ET Bureau

3 mins read, Last Updated:

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Dan Neff