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Hotel cos stocks rise as occupancy rate improves

The advent of the annual holiday season and improvement in economic sentiment are turning the hospitality sector bullish, with stock prices of most hotels shooting up.

After struggling for almost a year with low occupancy rates and many rooms going unoccupied, room tariffs had hit rock-bottom levels. Now the hotel sector across India is looking up. People who had earlier cut down on travel for both work and for recreation, are packing their bags again as economic sentiments are brightening. Consequently, stock prices of most listed hotel companies are rising, with some touching 52-week high.

 The Indian Hotels Company, which owns the Taj brand of hotels, and EIH, owned by The Oberoi Group, have seen their stock prices shoot up to the 52-week high.