AFTER being rocked by the stock market's correction two weeks ago, the hotel sector bounced back in fine style in the past week with price increases across the board.
Glynhill International was the star performer with a 23.59 per cent jump to close at 55 cents yesterday.
Associated International Hotels rose 18.91 per cent to $8.80 from $7.40 while Mandarin Oriental International picked up 14.85 per cent to $11.60 from $10.10.
Furama Hotel Enterprises climbed 12.5 per cent, or $1.50, to $13.50 after it announced profits for the six months to September 30 had more than doubled to $46.4 million from $21.1 million.
The company, which owns the 520-room Hotel Furama, saw sales climb 16.1 per cent to $201.1 million.
Analysts said the performance was due to higher occupancy and average room rates at both the Furama and Majestic hotels.
