NY tourist bureau said last week they should see a record number of visitors in 2010-number could be north of 47.5 MILLION. With 47% of EBITDA coming from New York this is a great takeout for someone like HOT, etc. Any comments people??
Whatever you are taking....have the pharmacist check the script for recalls.....the hospitality industry is in the toilet with the third flush on it's way.....between foreclosures & bankrupicies, lawyers are making more than the properities.....READ THE WSJ...many of the big boys from the street are even upside down & trying the be honest ------ you treat the NY market as if it were the altar of all things $$$$$$.....people are coming from outside the country because the dollar is in the ICU vs everything else resembling a currency in this tiny world.....there coming to buy chinese products at prices lower than they can get at home....there business people are coming to buy our companies at prices they can't start new at...again read the M&A & where it is going to....it sure isn't Des Moines..... Wake up & smell some Columbian....check your meds....& READ PAST THIS SELF SERVING POSTING BOARD.
I think the java your drinking came out of the toilet. The mis-information you provide is something I would wipe with. The hotel industry has been steadily improving since March. The dollar has gained some 20% on the Euro from two years ago. That said, HT diluted to the tune of a mere 3 times the original number of shares (about 1&1/2 yrs ago). The Venezuelan still has an option for 7 million more at $3.00 or less. The NYC market does seem to be coming back gangbusters with significant ADR and RevPar increases. I was totally surprized at their last quarter earnings. With the triple dilution, I thought earnings would be much less. They took a $12 potential stock and diluted it to a $4-5 stock. The mgmt totally hosed the common shareholders with the dilution. I held thru a bankruptsy possible time and got a double for my trouble. Absolutely rotten reward/risk ratio. I have eight hundred shares left with NO allegance to this company whatsoever. Mgmt bought 3 hotels (NYC) with 1/3 of the dilution shares. Perhaps it will show growth. NYC looks very good, in part, because it took the biggest hit during the downturn. I will hold for the moment, but I would sell this mgmt out, as fast as they did me. jtaylor