Hotel stocks in focus; Indian Hotels, Chalet, Lemon Tree, EIH gain up to 8%

Indian hotel industry is reporting a consistent and rapid recovery in occupancies after the halt on the recovery put by second wave of COVID-19

Hotel stocks rallied up to 8 per cent on the bourses in Friday's intra-day trade as the Indian hotel industry is reporting a consistent and rapid recovery in occupancies after a dull period amid the second wave of Covid-19. Further, a recovery in the business travel and permitting foreign tourist to travel in India would further give a boost to the occupancies in the quarters ahead, analysts say.

On Thursday, the government said India will issue fresh tourist visas to foreign nationals coming to the country in chartered flights from October 15. Foreign tourists travelling to India by flights