BENEFITS OF RUPEE DEPRECIATION TO INDIAN HOTELS
India’s luxury hotels, which have overseas operations have gained with depreciating value of rupee. Stock of East India Hotels has increased in last one month. The stocks of Indian Hotels have surged up to 15% in last one month while stocks of EIH has appreciated by 5%.
It is being observed that tariffs of luxury hotels have become economical in dollars for foreign tourists. And for Indian hotels foreign tourists account for 60% of the total demand. Indian Hotels is clocking an average occupancy rate of 65%.