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Opinions Dennis Mitchell, CFA
Royal Host IncRYL.TODON'T BUYAug 16, 2007
Limited service hotels. Big exposure to Western Canada. Sort of in wrap up mode. Sold off the timeshare management and hotel management businesses, so what you are left with is a portfolio of older hotels. Their saving grace is they are based in Western Canada.
Dennis Mitchell, CFAUnknown
$6.85
Stock price when the opinion was issued
merchandisinglodging
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DON'T BUY
Limited service hotels with big exposure to Western Canada. An older REIT so assets are also older, which is usually the kiss of death for limited service hotels. Also some concerns about management. Have been selling assets and reinvesting into other REIT stocks. Expecting them to report a big loss in Q3.
merchandisinglodging
SELL
Would prefer Holloway Lodging (HLR.UN-T). COO left and not sure if there are any personnel running this one. Consider this one as I leveraged real estate play rather than a REIT. Owns limited-service hotels, mostly in Western Canada but is currently more of a seller of assets rather than an acquirer.
merchandisinglodging
DON'T BUY
Owns and operates limited service hotels, mainly in Western Canada. Not really a going concern at this point. Selling a lot of assets. Distributions have been increased in number of times. Not sure what is happening or what their intentions are with regards to Holloway (HLR.UN-T)
merchandisinglodging
BUY
Smaller, non-service hotels. Expect it will be taken out. Very high yield of 9%.
Charles DillinghamOwned
merchandisinglodging
