Opinions
Charles Dillingham
Legacy Hotels
LGY.UN-T
COMMENT
May 07, 2007
Market is expecting this to be taken out. Good assets. Sold his holdings when the price went up. It could possibly yield another $1 if you hold. Not a Buy.
$14.290
Stock price when the opinion was issued
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SELL
Have some very nice properties, but they are big properties that need very high occupancy rates to make them efficient. Its parent, Fairmont, is being taken over which puts a different valuation on this and are starting to trade closer to their net asset value. Would consider moving out.
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DON'T BUY
Have great assets. Hotel industry went through a very tough period when travel was impacted by 9/11, SARS, etc. It is starting to recover but not as quick as expected. This company relies on US travellers coming to Canada but the strong Canadian$ is impacting this. Could do better in other trusts.
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