Buy Indian Hotel; target of Rs 183: Motilal Oswal

Trading Calls - Equity F&O

Motilal Oswal is bullish on Indian Hotel recommended buy rating on the stock with a target price of Rs 183 in its research report dated August 10, 2021.

Broker Research

August 11, 2021 / 10:09 PM IST

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Motilal Oswal’s research report on Indian Hotels

Despite the second COVID wave, standalone RevPAR nearly doubled as compared to last year due to ARR growth and occupancy improvement, as the impact this time around was less severe and the recovery was faster as compared to the first wave. Additionally, IHIN’s operating performance was strong on the back cost saving measures and operating leverage. Revenue/EBITDA in 1QFY22 was above our estimate. Factoring the same, we have increased our FY22E revenue/EBITDA estimate by 2%/4%, and have maintained our estimate for FY23E.

Outlook

We maintain our Buy rating on the stock, with a Sept’23E SoTP-based TP of INR183.

For all recommendations report, click here

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