IHCL expects revenue per available room in Q3FY23 to grow in double digits from the levels seen before covid
Shares of The Indian Hotels Co. Ltd (IHCL) are down by nearly 7% after the September quarter (Q2FY23) results were announced. A weaker than expected margin was a sore point. However, investors are already sitting on handsome returns of 75% so far in CY22, beating the mere 4% rise in the Nifty500 index. The strong rebound in demand driven by an increase in travel, business meetings, and corporate events have boosted the stock.