RE:RE:RE:Smoke damagetoolmantaylor wrote: righand2, I am not trying to ruin anything, I am just skeptical that this will be running in "a few weeks." Whether or not they turned the ventilation off, there will be smoke smell that needs to be treated. No operation = bad earnings which you'll see in the financial release soon. This company is still poised to be booked solid once operating, but it won't be as soon as some are making it out to be. I'm going to hold off for a while, but feel free to accumulate...
As well as Smoke Damage I would think that there could also be Water Damage from the Automatic Sprinkler Systems as well as from the efforts of the Fire Fighters to keep the properties from going up in flames.
The reality is that at this point NOBODY including the Temple Management has a handle on what will be required, how much it will cost and how long it will take to reopen the Hotels. It will likely vary from one Hotel to another.
As it was Temple had Cash Flow problems. Although it looks like the mid-longer term prospects for the Fort McMurray Hotels look good in the near term not so good.
The occupancy has gone down from abt. 50% to ZERO. For how long nobody knows.
They do have Insurance and although the Insurance Companies will provide some money in the near term it will be a very long time before ALL the claims are settled and paid. It’s also not known what % of the actual costs and Revenue Losses will ultimately be recovered (insurance policies have deductibles / exceptions / fine print). In the interim Temple will have to fund a large part of the costs from a very challenged balance sheet probably with debt.
I think that before we anticipate Windfall Profits from this DISASTER we should wait for Temple to update us with the reality when they can.
As Always; Do Your Own Due Diligence; It’s Your Money !!