bye bye InnvestI have now divested my holdings in Innvest.
Although management seemed to be doing the right things for a while, and the payout ratio is improving (now only $1.08 out for every $1.00 in) this is just getting too unfocussed. I can understand going upmarket as well as having the budget type facilities but - this diversification has become undisciplined. What are we doing with a Best Western - which is a brand that competes against Choice & Travelodge - for instance?
Additionally it is the Alberta locations that are driving this name. That is fine to a point but the growth is in the Ontario locations and the RevPar growth in Ontario is awful. Innvest RevPar growth in ON is below industry average. Close to half of the total revenue in ON.
Good luck to remaining longs.
Geordie.