ICICI Direct has given Buy recommendation for East India Hotels with a target price of Rs. 185 in its research report issued on May 11, 2022

ICICI Direct’s research report on East India Hotels

EIH Ltd is the flagship company of the Oberoi group that manages 33 hotels (~11 owned and 22 under management contract) with room inventory of ~4512 rooms. The company operates the hotels under the brands Oberoi (super luxury brand), Trident (five star brand) and Maidens (heritage) • EIH also provides catering/kitchen services to airlines, operates restaurants/lounges at airports and is also into air charter and car hire services.

Outlook

Hence, we remain positive on the company with BUY rating on the stock. We value EIH at Rs 185 i.e. 26x FY24E EV/EBITDA.

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