In our coverage universe, EIH is the best placed on the b/s front. The fund raising of | 350 crore thorough rights issue has improved debt/equity mix to 0.1x from 0.2x. While Indian Hotels' debt/equity is 0.7x, the proposed rights issue of | 3000 crore and strong promoter backing will take care of their liquidity requirements to fund ongoing business operations and capex. Lemon Tree Hotels, being on a capex mode is highly levered vs peers but also has strong institutional backing for liquidity support....