Even as the broader markets were in the green, hotel stocks hit yearly lows and shed about a quarter of their market capitalisation over the past month. On Thursday, the losers were led by Indian Hotels, which shed 4 per cent.
The pressure on hotel stocks — including Indian Hotels, Lemon Tree, EIH, and Chalet Hotels, among others — is because of worries that the coronavirus (COVID-19) outbreak could impact occupancies and, thus, drive down room tariffs. The sector, which is dependent on travel and tourism, will be among the most impacted because of the flurry of cancellations ...
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First Published: Fri, March 06 2020. 00:30 IST
