Hospitality sector pins hope on new PM Modi


Prime minister designate Narendra Modi’s pro-tourism agenda is bringing hopes of a revival in the tourism and hospitality industry that have been down in the dumps for some time now.

This week, hotel stocks have risen between 5% and 32%. Tatas owned Indian Hotels Company grew 11.2%, EIH, which runs the Oberoi hotels, grew 9.7% and Hotel LeelaVenture grew 21.5%.

Says PRS Oberoi, executive chairman of the Oberoi group of hotels, “Narendra Modi has tourism as a top priority in his agenda. He has said that he would personally look into promoting tourism here since he understands what tourism can do for the entire economy and I believe would be able to replicate the Gujarat model across the country.”

Read more at Economic Times


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