Hotel stocks gain on hopes of demand rebound; Chalet Hotels surges 20%

Analysts anticipate a faster recovery in the demand environment and are hopeful that consumption will reach normalised pre-Covid levels in H1FY23

Shares of listed hotel companies rallied up to 20 per cent on the BSE in Monday's intra-day trade, supported by heavy volumes, on expectation of strong outlook.

Chalet Hotels, for instance, surged 20 per cent to hit a 52-week high of Rs 301.40 on the back of two-fold jump in trading volumes. The stock surpassed its previous high of Rs 292.50 touched on November 25, 2021. A combined 6.3 million equity shares, representing 3 per cent of total equity of Chalet Hotels, changed hands on the NSE and BSE. At 01:25 pm, the stock was 13 per cent higher