If Chesapeake's 2.4 billion in reserves sells at that price it would equal a $28.32 billion price tag.
Chatham & the JV's don't have any hotels in downtown NYC. I am not too worried about airbnb, as most businesses require their employees to reserve at specific hotel chains they have a relationship with.
Oh please... And what happens when you have to pay the city for rights to run a BNB? Sort of like the Taxi medallion.
Just curious, but what constitutes a rig in the count?
Is it possible that companies are shorting WTI and adding "rigs" that are not in service? Could there be some manipulation of the rig count that is announced?
Something is going on for sure...
Icahn has not talked about Chesapeake on Twitter, News, Investor group meetings...
I think he is under a silent period himself as he has direct knowledge of what the Board is doing. He has hand picked board members that feed him information.
Yes, I have added here. Right now we are at a 10X FFO valuation... perhaps one of the cheapest REITs with a sustainable advantage out there.
I say get the deal done - Europe is a great place to diversify at the moment.
If multiples in Europe are higher and there are assets worth buying, then Hamo is making the right move at the right time.
Now, it may be dilutive in the short term, but investing is long term anyways.
Joint Venture Investment Performance
The Innkeepers joint-venture portfolio produced 2015 second quarter RevPAR growth of 7.7 percent to $115 on a 5.7 percent increase in average daily rate to $138 and a 1.9 percent increase in occupancy to 84 percent. The Innkeepers joint venture contributed funds from operations of $1.8 million to Chatham during the quarter, and Chatham received distributions of $1.7 million during the quarter.
“We invested $22.1 million in the Innkeepers joint venture with NorthStar in June 2014. Through the 2015 second quarter, we received distributions of $4.0 million which equates to a very strong leveraged cash-on-cash return of approximately 18 percent on an annualized basis,” said Dennis Craven, Chatham’s chief operating officer.
For the Inland joint venture portfolio, RevPAR rose 3.1 percent to $101 on a 2.4 percent increase in average daily rate to $127 and a 0.6 percent increase in occupancy to 80 percent. The Inland joint venture contributed funds from operations of $1.4 million to Chatham during the quarter, and Chatham received distributions of $1.0 million during the quarter.
“The difference between the Innkeepers and the Inland portfolios at this point is underlying market performance where RevPAR growth in the Inland markets underperformed the Innkeepers portfolio by approximately 360 basis points,” Craven said. “The lower than expected growth in the Inland portfolio adversely impacted our earnings by approximately one penny of FFO in the quarter and our full year guidance by approximately three cents.”