Ebola Virus Has Hit The Hotel Industry Bad But This Hotel Stock Gained 42% This Week Alone

Ebola virus has bitten hard on businesses in Nigeria and one industry which is bound to suffer the most is the hotel industry. Most hotels have complained of dwindling occupancy rates as most international visitors have had to cancel bookings especially for the month of September. Hotel occupancy rates witness an uptick in September right after the summer break as most executives resume in earnest for the later stages of the year.

However, the market for some reason has helped Ikeja Hotel post a 42% return this week alone and 82% this month alone. The stock opened the week at a price of N1 and closed at a price of N1.42. It is important to note that the company is yet to release any result for 2013 and neither has it released anything this year as well. I do hope if you are buying, you have your sights on capital appreciation and you have set a target sell price.

Here is the last 10 days trading for the stock.

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