RE: iminddo..just some thoughts:There are only a very few major publicly-listed hotel operators left in Canada now since the shakeup in 2006 regarding Income Trusts and REITS. If you like hotels and see a future in this sector going forward 5 years or so, then who is really left for one to invest in? Innvest used to have a huge U.S. following but with the decline in the U.S. dollar; dividend tax implications with respect to the Flaherty's edict(s) etc., have dampened interest by American investors and the world economic turmoil isn't helping either, of course. But, contrarians who believe in the future and are willing to take on the risks, will be buying because they see the inherent value in Canadian real estate, especially in those few Canadian major hotel properties with the highest ratings. There really are not many 5star and diamond class hotels in Canada and Innvest does own a number of them. I believe though that they should have fought for the Royal York Hotel in Toronto when the Legacy package was carved up. The Royal York is a Fairmont Hotel now and a diamond classed property with a storied history to it. Steps from every major sporting and convention-centre venue in Toronto, it has always been a money-maker. Too bad they let it get away from them.