Hotels stocks celebrating
Hotels stocks are having a great day on the bourses today. Indian Hotels went on to hit a new high at Rs.211.50. Chalet Hotels too hit a new high at Rs.260.50 and so did Lemon Tree at Rs.55. Royal Orchid and TajGVK are also up strongly in the green. Thomas Cook too is among the top five gainers on the BSE currently, going on to hit a new high at Rs.85.
The hotel and travel stocks are up as reports are coming in that the sector is showing signs of recovery in occupancy – these have been upwards of 60% from July onwards and it has only been going up since then.
What has also helped is the Govt yesterday saying that it will begin issuing fresh tourist visas to foreign nationals coming to India in chartered flights from October 15. Foreign tourists travelling to India by flights other than chartered aircraft will be able to do so from November 15.