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08 Sep 2022
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Hotels, Restaurants & Tourism
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ICICI Direct
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Sector Update
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01 Sep 2022
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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As per HVS Anarock, industry occupancies fell below 50% in Jan’22 owing to Omicron impact before recovering to ~55% in Feb’22 and 61% in Mar’22.
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11 Jul 2022
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Hotels, Restaurants & Tourism
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ICICI Direct
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Sector Update
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29 Jun 2022
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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As per HVS Anarock, industry occupancies fell below 50% in Jan’22 owing to
Omicron impact before recovering to ~55% in Feb’22 and 61% in Mar’22. This momentum carried forward into Apr’22 with industry level occupancies reaching ~65% (same as Apr’19) pre-Covid levels and Apr’22 RevPAR at Rs3,803 or 103% of Apr’19 levels.
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09 Apr 2022
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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In our coverage universe, Indian Hotels and EIH both are best placed on the b/s front. The fund raising of | 4000 crore and | 350 crore by IHCL and EIH, respectively, has strengthened their b/s further. This would help them to further gain the market share. Lemon Tree Hotels, being on a capex mode,...
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10 Jan 2022
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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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....
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18 Nov 2021
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Hotels, Restaurants & Tourism
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Edelweiss
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Sector Update
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Sectoral Overview
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11 Oct 2021
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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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....
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16 Jun 2021
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Hotels, Restaurants & Tourism
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Edelweiss
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Sector Update
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QSR Sector bounces back sharply in Q4FY21
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09 Apr 2021
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Hotels, Restaurants & Tourism
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ICICI Securities Limited
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Sector Update
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In our coverage universe, EIH Ltd is the best placed on the b/s front. The fund raising of | 350 crore thorough rights issue would improve debt/equity mix to 0.1x from 0.2x. While Indian Hotels has a strong promoter backing, its debt/equity is 0.7x, which combined with capex requirement could lead D/E to rise further to 0.9x if current Covid issue persists for a longer period. Lemon Tree Hotels, being on a capex mode is highly levered vs. peers....
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