Sectors like travel and tourism, hotels, consumer, QSR to benefit from cricket World Cup

New Delhi, Sep 8 (SocialNews.XYZ) Analysts are positive about the prospects of the QSR, aviation and hotel sectors with the G20 and upcoming cricket World Cup.

“We are positive about the QSR (Quick Service Restaurant) segment, optimistic about the aviation industry, and bullish on the hospitality and hotel sector. This optimism is not solely due to the G20 Summit but is also driven by several other upcoming events, not only this year but also in the coming years. We have the festive season approaching, the Cricket World Cup being organised, and the wedding season ahead," says Gaurang Shah, Senior Vice President at Geojit Financial Services.

“Moreover, with the easing of restrictions following the lockdowns, we see a surge in travel, both for leisure and professional purposes. Many hotel management companies have expressed their plans for expansion after reporting their first-quarter numbers this financial year. Over the next few years, we anticipate a significant increase in the number of properties opening up for occupancy, leading to improved prospects for the hotel and hospitality industry," Shah said.

“Already, we are witnessing an uptick in room rates, with expectations that they may increase from the current 10-15 per cent to around 20 per cent. Additionally, the upcoming G20 Summit is likely to support favourable room rates and tariffs", he added.

The 2023 ICC Men's Cricket World Cup is scheduled to be hosted in India from October 5 to November 19. The tournament will take place across 10 different cities of India. Sectors like Travel & Tourism, Hotels, Consumer, QSR will benefit out of this big event, says a report by Motilal Oswal Financial Services.

It expects companies like Indian Hotels, Zomato, Jubilant Foodworks, Varun Beverages and United Spirits to be key beneficiaries of this event.

Source: IANS