Hotel stocks on a roll; Indian Hotels, Chalet, EIH surge over 10%

Easing of travel related restrictions, coupled with pent-up vacation demand, seems to the driving force behind a sharp surge in hotel shares

Shares of hotels companies were on a roll and rallied by up to 15 per cent on the BSE in Tuesday’s intra-day trade on hopes of business revival on pent-up vacation plans, as travel related restrictions ease. 

Among the individual stocks, Indian Hotels Company (IHCL), EIH, Chalet Hotels and Lemon Tree Hotels rallied between 10 per cent and 15 per cent in intra-day trade today. Westlife Development, which runs McDonald’s restaurants in western and southern India, Taj GVK Hotels & Resorts and Speciality Restaurants were up in the range of 5 per cent to 9 per cent on the