RE: any comments on results? Here are some comments from Scotia Capital.
More comprehensive report at (page 65 to 70)
https://www.investorvillage.com/groups.asp?mb=13685&mn=37059&pt=msg&mid=12634069
Good quarter; on the right track.
While we acknowledge Q4 is a seasonally slow quarter, INN delivered YOY FFOPU growth for only the 2nd time in the last 7 quarters; dilution from its recent convertible
debt issuance and tougher YOY comps in Calgary may stem gains in 1H/13.
The strategic plan announced in January was a positive first step
and seems on track, while industry experts expect broad market YOY
RevPAR growth to accelerate in 2013 to 3.7% (2012A = 3.1%).
Maintain SP rating & $5.00 target price.
We believe INN is cheap
(9.3x 2013E AFFO / 8.9% implied cap / 13% discount to NAVPU),
although higher room rates are likely required to lift the unit price. We
recommend INN to investors seeking both yield and exposure to
domestic economic expansion.