American Hotel The company seem to be making a comeback over the past months but then the ChinaVirus took that away from us. We are now in a very, very dark spot.
The hotels are probably all shut down but will be the first ones to come back on line as they are not in major city centers such as LA or NYC.
It is going to take 6 -12 months to get hotel rates back at the same spot we seen just a few months ago.
They will not likely keep the dividends below the previous rate as it was too high and this is a perfect opportunity to justify the decrease.
I bought in at $6bucks when the management team was buying $10million worth. I hope they didnt purchase it on margin as that would have been a tough call to make!! Imagine that? The bank calls your loan on your shares in your company? Unreal.
Anyways, I have over 70 stocks in my holdings and love to diversify as much as possible but never did I expect this Black Swan scenerio to unhold.
I will not be buying anymore untill we see what is happening in the market. As far as I know, we are holding paper in $1billion worth of assets that cant produce income.
This is pretty messed up.