Indian Hotels reported weak Q2FY18 numbers on account of the lean season and poor operating performance of international segment Consolidated revenues declined 4.0% YoY. Domestic standalone revenues declined 1.2% YoY while subsidiaries revenue dropped 7.9% YoY due to sale of Taj Boston (ex-Taj Boston). The company reported revenue growth of 1% YoY The company reported an EBITDA margin of 6.4% (down 156 bps YoY) below our estimates. On a standalone basis, its margins...