Key Points
The upcoming ICC Mens Cricket World Cup is set to bring a one-time bonanza to many sectors, as fans splurge during the event that stretches from 5 October to 19 November..
Hotels are the clear winners with the event falling in the festive and holiday season when demand is usually strong..
Our checks with reservation desks of many hotels in bigger cities also indicate that occupancies for match days are already running high, which has resulted in rates rising sharply and rates are likely to mostly increase further closer to match dates," wrote Prateek Kumar, an analyst at Jefferies India in a report on 27 September..
Shares of key hotel companiesIHCL, Chalet Hotels Ltd and Lemon Tree Hotels Ltdare up by 29-60% in 2023 so far, also helped by strong demand seen in recent quarters..
The December quarter could also pan out well for quick-service restaurant operators such as Westlife Foodworld Ltd and Devyani International Ltd. Further, as people stay glued to television screens, ordering from home might spike, benefitting companies like Zomato Ltd..
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