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Condor Hospitality Trust Inc. 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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