RevPAR performance for Indian Hotels (IHIN) standalone improved sequentially, led by improved occupancy levels. The company has been successful in generating an additional revenue stream (with higher EBITDA flow) without deploying additional resources. Cost reduction initiatives undertaken by IHIN have yielded results, wherein EBITDA (incl. other income) stood at INR130m for Sept'20 (v/s loss of INR600m/INR360m for July/Aug'20). This, in our view, is commendable. Factoring in the current demand scenario, we have increased our EBITDA...