- By Holly LaFon
Moving on to happier subjects, luxury hotelier Belmond ( NYSE:BEL ) was the Fund's biggest winner, contributing 172 basis points to the Fund's return, as its stock generated an amazing total return of 104.3%. The shares soared when the company announced it was selling itself for $25 per share to Paris-based luxury goods conglomerate LVMH. We've owned Belmond since 2013, and we remained confident that the stock price would eventually rise to reflect the value of the company's iconic hotels. We're happy that our patience was rewarded.
- Warning! GuruFocus has detected 7 Warning Signs with BEL. Click here to check it out.
- BEL 15-Year Financial Data
- The intrinsic value of BEL
- Peter Lynch Chart of BEL
From Jerome Dodson (Trades, Portfolio)'s Parnass Funds' fourth-quarter 2018 shareholder letter.
This article first appeared on GuruFocus.
- Warning! GuruFocus has detected 7 Warning Signs with BEL. Click here to check it out.
- BEL 15-Year Financial Data
- The intrinsic value of BEL
- Peter Lynch Chart of BEL