The Byke Hospitality announces acquisition 3 new hotels

The company currently operates 9 hotels and resorts across the country

Dec 06, 2017 09:12 IST India Infoline News Service

The Byke Hospitality Ltd. announced the acquisition of 3 new hotels and resorts. The new acquisitions are -  The Byke Nature Villas (35 rooms) in Shimla, The Byke Puja Samudra (42 rooms) in Kovalam, and The Byke Brightlands Resort (63 rooms) in Matheran. With the new acquisitions the total hotels and resorts operated by the company now stands at 12, with a total of 873 rooms.

The Byke Hospitality had an occupancy rate of 65% in FY17 against an industry average of 65.7%. The net profit for The Byke Hospitality for 1HFY18 stood at Rs11.8cr, a 5.4% decline yoy.

The Byke Hospitality Ltd is currently trading at Rs168, down by Rs3.3 or 1.93% from its previous closing of Rs171.3 on the BSE.

The scrip opened at Rs172 and has touched a high and low of Rs172.65 and Rs167.45 respectively. So far 62,528 shares (NSE+BSE) were traded on the counter. The current market cap of the company is Rs686.88cr.

The BSE group 'B' stock of face value Rs10 has touched a 52 week high of Rs220.7 on 05-May-2017 and a 52 week low of Rs150.25 on 23-Nov-2017. Last one week high and low of the scrip stood at Rs178 and Rs157 respectively.

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