Most of the resorts are seasonal and impacted by weather. Having asset heavy structure, more direct manpower will increase cost to the books, which is round the year cost!. Seasonal resort with outsourcing model is more cost competitive and have higher margin as it offset seasonality.
Rapid growth of tents, without evaluating much about cost and profit model and learning from the past operational tents about hits and misses will provide more inputs for future tents opening but it seems Praveg is going very rapdily by dilutig equity and drastical reduction in EPS
The kind of valuation Praveg is getting does not leave any margin of safety.
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