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TravelCenters of America LLC Message Board

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  • granicus007 granicus007 Oct 15, 2012 1:57 PM Flag

    Dow up 100...Oil down under $90 and we are trading down. What is wrong?

    I am the first to agree about the HPT & TA relationship being negative. But investors have already licked the red off that candy long ago.
    If that relationship bothers anyone so much, like me, then just focus on exactly what does TA own outright?
    A partial listing would include about 20 wholly owned travel centers, 8 large parcels of undeveloped already zoned for building, cash, partnerships in a handful of other travel centers, a franchise business, cash flow, high-margin retail stores generating about $1.5B annual sales,, all profits from fuel sales, the corporate headquarters building. TA has NO mortgages or liens on these wholly owned assets-zero. Do that will easily find just the FMV of TA's "owned" assets (that HPT has zero to do with) is probably 2x present book value. SO future profits and cash flows, purchasing under-valued travel centers at fire sale prices...that is all FREE.
    I am LONG in spite of HPT...too much value here to ignore.
    ps in fact I view TA as 2 with HPT and one without HPT...makes it easy for me to understand the parts

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