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Hospitality sector claimed to be the most affected after the mumbai terror attacks, says report

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Hospitality industry is going to withstand the combustion of terrorist attacks; with two of the country’s most high-status hotels which is under blockade. The breakage caused by the firing and blasts inside the hotels will just form a micro piece of complete cost of the industry which have to with stand.
As per to the sources saying @ the www.propertykhazana.com, Tourists and business travelers are likely to land in less numbers as an outcome. But it is very important to note that the Indian hospitality industry has by now started experiencing a drop in growth, even before the attacks. With economic activity falling across the globe, business travel and tourist visits have already been striked. Foreign tourist visit grew by a strong of about 14%, but the growth rate fell to 2.8%. The terrorist attacks and its annulling effect will just make issues bad.
One helpful factor that can balance some of the annulling effect is the quick detraction in the rupee. As lavish hotels charge in foreign currency, the detraction in the rupee came in higher revenues and expediency. But in a set-up where revenues and tenancy rates are likely to reduce for little recompense. The annulling effect of the drop has been rated by the markets, with the share rate of Hotel Leela Venture Ltd. dropped to 77% from its top, Indian Hotels Co. Ltd. losing about 75% and EIH Ltd. having about 65% of its value from its 52 week high. EIH has dropped the lowest, as buzz of share auction by its promoters have boost up the stock. As Indian Hotels now trades at about 8-9 times straggling earnings, Hotel Leela trades at less than 6 times straggling earnings. These stocks are likely to correct more to reproduce the effect of the terrorist attacks. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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