Orient Hotels reported a near 70 percent jump in revenues and 63 percent jump in its operating margin. Hotels across the broad are having the time of their life, going by the latest quarterly numbers and projections. This comes just a few days after Indian Hotels boss Puneet Chhatwal said that the best for his company was yet to come and that operating margins of 33 percent could sustain. Patanjali Keswani told CNBC TV-18 that he expects hotel pricing to increase at a 15 percent compounded over the next 5-10 years, and gross operating profit margin to hit 55-60 percent by 2026. More positive commentary on the hospitality sector, and this time from the Lemon Tree Hotels boss. The Jefferies report pegs ICICI Bank’s exposure at Rs 350-400 crore and Central Bank of India’s exposure at Rs 700 crore. On GoFirst’s woes, check out this exclusive piece from my colleague Yaruqhullah Khan.īroking firm Jefferies estimates that GoFirst’s loan from banks were around Rs 2000-2500 crore, based on previous filings. The latest development means that Indigo won’t have to overpay for talent. Oil prices have been steady and now because of Go First’s problem, there is likely to be a sudden availability of workforce at all levels.Īs aviation analyst Ameya Joshi writes, the sector has been grappling with a shortage of pilots, cabin crew, engineers, planning and revenue management professionals as airlines are expanding capacity. This also happens to be a seasonally strong quarter for the sector. Indigo’s operating performance has been on the uptick, but the steady supply of shares because of the Gangwal family selling its stake has been capping prices. That’s the story at this point, and could easily change if the Nifty were to retreat 500 points from these levels.Įxpect a short-term boost for the stock, with rival GoFirst having filed for insolvency. ![]() The economy is in fine shape, going by the tax collection numbers. ![]()
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