Should you buy hotel stocks?

India is travelling more than ever before. But here’s the paradox — while international travel is booming and destinations like Bali, Phuket, and Dubai seem more attractive than ever, listed hotel companies in India are reporting record revenues and profits. So, are Indian hotel stocks actually benefiting from India’s travel boom? Or are investors buying into something very different? In this latest T Minus One episode, we break down how hotel businesses actually make money, the key metrics investors need to track like RevPAR, ARR, occupancy and EBITDA, and whether India’s hospitality sector is still in a structural upcycle. We also explore the rise of asset-light hotel models, the growing importance of weddings and MICE (Meetings, Incentives, Conferences, and Events), and whether outbound travel poses a real threat to Indian hospitality companies. Finally, we lay out the bull and bear case for hotel stocks — from supply shortages and pricing power to valuation concerns and slowing