Indian Hotels has target of Rs 104: Pankaj Pandey
Pankaj Pandey of ICICI Direct have a target price for Indian Hotel scrip Rs 104. He is of the view that in this particular quarter the occupancy levels have gone up from 50-60%. In coming FY11, the occupancy level would improve by another 700 basis points and it will reflect as around 4% improvement in FY11.
Coupled with the above conditions if you see on terms of expansion plans the company would be adding about 1200 keys in this particular year and another 1500 keys in next year. So that will take the volume total to about 13% odd. Going forward we think situation improving for the hotel industry as a whole.
Indian Hotels CMP is Rs 87.90 on 13th Nov 09.
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