New datapoint shows Canadian tourism up 13% in September!
According to newly released data by Destination Canada, international overnight arrivals to Canada grew 13% y/y in September. This is up from 8% in August. This is another tailwind for Canadream. Next year should be even better as Canada has been named the top travel destination in 2017 and all of the provincial parks will be free to celebrate Canada's 150th birthday. By my estimates this stock is trading at only a 5-6x P/E against this year's earnings with a giant runway for growth ahead. It is due for a revaluation higher. Notably Apollo (ATL-ASX) owns 20% of the shares and their recent IPO in Australia makes it increasingly likely they will bid to acquire Canadream at some point. https://en.destinationcanada.com/infographic/september-2016