EaseMyTrip to Build 5-Star Hotel in Ayodhya, Share Price Surges
The proposed 5-star hotel in Ayodhya aligns with the economic impact anticipated from the Ram Mandir, with tourism expected to surge to 5 crore visitors annually. Global brokerage firm Jefferies projects significant growth in the hospitality sector in Ayodhya, with 73 new hotels in the pipeline, 40 of which are already under construction.
Renowned hotel chains and hospitality companies, including IHCL, Marriott International, Wyndham, and OYO Rooms, are also planning to expand their presence in Ayodhya. The overall makeover of Ayodhya, including a new airport, revamped railway station, township, and improved infrastructure, is expected to drive economic activities, benefiting various sectors such as hotels, airlines, hospitality, FMCG, travel ancillaries, and cement.
Jefferies identified Indian Hotel Company and EIH as potential beneficiaries in the hotel space, while companies like ITC, Jubilant Foodworks, Britannia Industries, Godrej Consumer, Westlife Foodworld, Hindustan Unilever, Devyani International, and Sapphire Foods from the FMCG and QSR space are also expected to benefit. Additionally, InterGlobe Aviation (Indigo), SpiceJet, IRCTC, and EaseMyTrip are likely to gain from the growth in the travel sector. The transformation of Ayodhya into a global religious and spiritual tourist hotspot is set to have a substantial impact on multiple sectors, marking a significant shift for the ancient city.