ICICI Direct has given Buy recommendation for Indian Hotels with a target price of Rs. 290 in its research report issued on Apr 28, 2022

ICICI Direct’s research report on Indian Hotels

With room inventory of 20,581 rooms, Indian Hotels is a diversified player in the hotel industry through brands such as Taj, Vivanta, SeleQtions and Ginger brands. The company also has a selective presence in the luxury segment in the US, UK, Africa, Sri Lanka, the UAE and Maldives through owned/managed properties • The company enjoys strong support from its key promoter Tata Sons and is also an important strategic business for Tata Group.

Outlook

We remain positive on the company and maintain our BUY rating. We value company at Rs 290 i.e.31x FY24E EV/EBITDA.

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