Rating agency CARE expects the bar to be lowered to Rs 100 crore for hotel projects and to Rs 200 crore for convention centre projects
Hotel companies are hoping that the upcoming Budget will dilute the eligibility criteria for hotels to qualify for infrastructure status.
Currently, hotel projects above Rs 200 crore and convention centre projects above Rs 300 crore qualify for infrastructure status.
Rating agency CARE expects the bar to be lowered to Rs 100 crore for hotel projects and to Rs 200 crore for convention centre projects.
"Existing policy benefits only the upscale hotel segment and few large mid-market hotels. Furthermore, given the dearth in quality of branded mid-market hotels and the growth potential for the segment, the segment has been in focus by the hotel players," says the CARE report on pre-Budget expectations.
"However, the segment continues to face high cost of debt. Reducing eligibility limit to provide much needed support to the segment," says CARE.
Brokerage house Morgan Stanley feels infra status for hotels can lead to easier financing for hotel projects with longer tenures.
Sayaji Hotels stock price
On February 12, 2015, Sayaji Hotels closed at Rs 127.55, down Rs 1.45, or 1.12 percent. The 52-week high of the share was Rs 144.30 and the 52-week low was Rs 120.05.
The latest book value of the company is Rs 46.85 per share. At current value, the price-to-book value of the company was 2.72.
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