Scripscan:Royale Manor Hotels & Industries Ltd
cmp:14
Code:526640
Story:Royale Manor Hotels and Industries Limited engages in operating hotels and restaurants in India.The hotel unit of the Company "The Gateway Hotel, Ummed Ahmedabad" is managed by Indian Hotels Company Limited (Taj Group) for over nine years. The hotel is an established leader in the Business segment at Ahmedabad, where reputed Indians and Multinational Companies shall be establishing their business; this will boost up business traffic to the advantage of royal manor.Besides, the elevation of Ahmedabad Airport to International Airport will also enhance sizeable hotel business for the company.Slowly and steadily the hotel sector is coming out of the mumbai attack shock.Hospitality is a sunrising industry and the sector should hog the limelight going forward.Royale manor is expected to post better numbers in the coming quarters.The company has a strong occupancy of around 74% and the management hopes to inch it up to around 80% this fiscal.The average room rate for the company has increased from 5608 in 07-08 to Rs. 6881 rs in 08-09 and should further see a hike in the present year.Overall I would keep a hold rating on the stock.If the sector performs this is once stock where people would pounce upon.
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