Q2 Result Review: Hotel sector maintains momentum in Q2FY24 with strong RevPar growth, says Nuvama; Lemon Tree top pick
Q2FY24 saw strong growth in the hotel industry with all major companies reporting revenue per available room (RevPar) growth of 15%+ YoY. Premium segment-focused companies, such as IHCL, EIH, and Chalet, outperformed the sector, driven by revenue growth and improved margins, says Nuvama.
The hotel industry maintained its momentum in Q2FY24, despite a high base, said domestic brokerage Nuvama Institutional Equites in its Q2 Result review report on Leisure & Hotels. All four major companies—Indian Hotels Company Limited (IHCL), Lemon Tree, Chalet Hotels, and EIH—clocked revenue per available room (RevPar) growth of 15%-plus year-on-year (YoY) (roughly 45% higher than Q2FY20).