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Condor Hospitality Trust Inc. Message Board

  • hudget hudget Nov 14, 2011 5:07 PM Flag

    Another dismal report

    Revenues down. Bigger loss. G&A increased by 15.8%. Net Worth down 10 million in last year. More charge offs. Warning on liquidity if not able to able to refinance considerable loans that are coming up for renewal. Dismal Dismal Dismal. But lets not forget the good news..........they have a new corporate communications person that I am sure is contributing to the overhead increase.........! Wish I were not an owner but sadly I am. Awaiting more losses coming my way shortly.........

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    • the only thing i really didn't like was the 2 month extension of the one loan. They just need to find another partner to take to the loan dance, and make it long term for crying out loud.

      • 1 Reply to brianbee882
      • There is a lot more not to like than the two month extension. They have 20 properties for sale and the carrying value is less than the debt on those properties. They have not sold a property since July. They dont even mention the fact that they are about to be delisted. They keep harping on sales momentum and increased efficiency with new motel management but all they deliver are lower revenues and higher expenses. they are attempting to sell 20% of their properties and overhead keeps going up not down. There is plenty not to like here.

 
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