J.P Morgan sees India's hospitality sector gaining from GST cuts

** Brokerage J.P. Morgan sees India's hospitality sector gaining from proposed cuts to the nation's goods and services tax

** Sees tax cuts driving up demand in mid-scale hotels which have lagged in performance

** Luxury segments that see seasonal fluctuations could get higher occupancy levels in lean months, brokerage adds

** Shares of Indian Hotels Company IHTL.NS rise as much as 1.5% to 770 rupees; Lemon Tree Hotels LEMO.NS up 1.7% to 167 rupees

** JPM says IHTL's brand Ginger to be a key beneficiary

** Since the announcement of GST reform plan on August 15, IHTL up nearly 1%, Lemon Tree Hotels LEMO.NS rises around 14%

** On avg both IHTL and LEMO rated "buy"; median PT at 875.50 rupees and 175 rupees respectively- data compiled by LSEG

** YTD, IHTL down around 11%, LEMO up about 9%