Hotel stocks rally up to 9% in weak market on hopes of strong earnings

Analysts at Emkay Global see the strength in hospitality industry sustaining in March (Q4)/June (Q1) quarter, based on their channel checks, with year-on-year (YoY) improvement in average room rates.

Shares of listed hotel companies rallied up to 9 per cent on the BSE in Tuesday’s intra-day trade in an otherwise weak market on expectation of strong earnings. 

Analysts at Emkay Global Financial Services see the strength in hospitality industry sustaining in March (Q4)/June (Q1) quarter, based on their channel checks, with year-on-year (YoY) improvement in average room rates (ARR), amid demand supported by MICE (Meetings, Incentives, Conferences and Exhibitions) events.

Among individual stocks, Chalet Hotels hit a new high of Rs 894.95, on rallying 9 per cent on the BSE in intra-day trade. The stock surpassed its previous high