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Supertel Hospitality, Inc. (SPPR) Message Board

  • jgtaylo77 jgtaylo77 Jan 31, 2012 12:45 PM Flag

    IRSA Partner to SPPR

    Well, I'm not so sure it was a good move to make the deal with IRSA. However, mgmt hasn't exactly delivered. Enough hotels weren,t sold, the debt wasn't refinanced well (Great Western), and 3rd Q hotel performance with the new hotel mgmt teams delivering -4% occupancy and revpar.
    The deal should deliver a much improved balance sheet with opportunity to fix SPPR. In the short run, investors should get a bump in the share price. Ultimately, the cost will be the dilution to shareholders with IRSA being well rewarded.
    I just bought 300 sharers of IRS (IRSA). They have a great portfolio of South American (Argentina) properties with financial interests in HT and SPPR.
    The SAGA continues. Good Luck, jtaylor

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    • what time line do you think it might take here? I read where they are phasing away from the economy motels(where I stay) to more mid-upbeat motels. Do you think that will make SPPR more profitable? Who will be there competition in that market? I just sold out of HT, had owned it since 1999. HT has been unprofitable for several yrs, and got nervous enough to finally sell off. Now watch it take off!

      • 1 Reply to m.swanger
      • I sold out of HT when the dilution went skyrocketing some year plus ago. however, i got minorly sucked back in at $5.95 for 300 shares with their recent purchases and the belief that europeans would fill NY with RevPar. I am almost back to even. HT made some good acquisitions, but the share count means you have to improve greatly to move the share price. The have a lot of hotels with continued high occupancy, so its the ADR that will improve performance, HT, in my estimation, sold to IRSA at the low, then diluted at the low, and will be hampered by those decisions forever.
        I will soon say goodbye to HT, perhaps forever. They didn't take shareholders into account, and no investor needs that mgmt.
        Good Luck, jtaylor
        PS I sure hope the "new" SPPR mgmt has not sold out to IRSA. Perhaps they were forced into this position. I didn;t see any discussion of the upcoming debt re-fi specifics. Seeking Alpha did an article (I took issue with the author) that sunk the SPPR stock price over upcoming debt refi issues. He may have been right, at least the IRSA deal seems to substantiate his position.

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