Hospitality Shares go down after terrorist attacks

After terrorist attacks on 26th Nov evening on two iconic south Mumbai hotels in our financial capital Mumbai, three hospitality shares slumped by 4% to 11%.Indian Hotels Company, EIH and Hotel Leela Ventures slipped by 3.89% to 11.46%Terrorists armed with grenades and rifles stormed into the Taj Mahal Palace and Oberoi hotel late on Wednesday, 26 November 2008.Indian Hotels Company operates Taj Group of Hotels and EIH operates Oberoi Group of Hotels.Mumbai's five star hotels, which have been already hit by the ongoing economic slowdown, will face even more downturn after Wednesday's (26 November 2008) terror attacks in an otherwise busy season that begins in October every year.