Tag: budget hotels

Citigroup downgrades Indian Hotels to ‘hold’ from ‘buy’

Citigroup has downgraded Indian Hotels to ‘hold’ from ‘buy’ rating with a target price of Rs 47. The downgrade is based on lower earnings estimates to take into account the recent terror attacks in Mumbai, which will lead to temporary shutdown of the company’s flagship property in Mumbai and likely lower occupancy of the company’s […]

Zoom Developers Gets Contract To Build Budget Hotels

Real estate firm Zoom Developers on Monday said it has bagged contract from the Indian Railways to build four budget hotels. In a press statement, Zoom said the company has won the bid for IRCTC Ratna Budget Hotels at four places. The Indian Railway Catering and Tourism Corporation, a sister organization of Indian Railway has […]