• Stocks of top hotel companies go up but hotel sector might feel the heat of slowdown

    28 days ago - By Travel and Tourworld

    Stocks of top hotel companies went up on Wednesday after news of a possible cut in goods and services tax for high-end tariffs surfaced. But will the excitement last?
    Rashesh Shah, analyst, ICICI Securities Ltd., said: “The general slowdown in the economy, along with the ongoing monsoon, will negatively impact occupancy levels in hotels in the medium term.”
    The domestic slowdown has prompted most core sectors seeing falling sales and profits, to apply cost-cutting measures.
    The year has seen the aviation industry, which offers significant patronage to first-class hotels suffer losses, and...
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