TSX:HOT.DB.V - Post by User
Comment by
bdawson17on Mar 11, 2019 5:06pm
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Post# 29470130
RE:RE:RE:HOT.UN reminds me of another stock
RE:RE:RE:HOT.UN reminds me of another stockhotels and apartments-very different animals.
be cautious about generalizing very much across different segments and countries
complexity, cost pressures, cap rates, valuation, recurring renos - all different.
hotel biz much tougher. cap rates show that.
capital recycling (selling underperformers?) produces cash - also makes an income hole til reinvestment happens.
payout ratio is a good stat along with understanding margin direction....(ie labor)