Thistle Hotels Share Discussion Threads

[ainsoph] 16/1/2003 14:03

1:34pm (UK)
Thistle Helped by Leisure Demand

By Steve Hawkes, City Staff, PA News


Thistle Hotels warned it was still "cautious" about a recovery today despite seeing occupancy levels improve in recent months.

An increase in leisure customers pushed revenue per available room in its core sites in the second half of 2002 up 5.4% on the first.

Thistle said results for the year would hit expectations but added it was difficult to forecast the likely outcome for 2003.

In a trading statement to the City, it said: "We remain focused on keeping tight control on all costs and on cash generation."

It added that property group Orb Estates' decision last week not to proceed with an offer meant it could concentrate on its own strategy.

Thistle is the largest hotel operator in London and has been hit hard by the downturn in travel following the September 11 attacks.

The group runs 22 of its 56 hotels in the capital and in September showed operating profits for the first half had almost halved.

Revenue per available room in its core 18 leased or owned hotels in the second half was 2.7% up on 2001 at £58.36.

Thistle said this was fuelled by a 9% growth in occupancy as "tactical room rate reductions" attracted leisure travellers.

Despite the increase, revpar for the year as a whole in the leased or owned sites was down 6.8% at £56.81 with occupancy at 76.2%.

Across the 38 Thistle sites run under a management contract, including six in London, revpar was down 3.8% for the year at £39.15.

Leeds-based Thistle sold 37 hotel businesses for £600 million in a sale and leaseback deal with Orb Estates last March.

Two months ago, Orb announced it was considering a possible bid for Thistle but last week said it had decided against such a move.

Analysts expect Thistle to report underlying pre-tax profits of £20 million for 2002 and its shares were down 1.5p at 108p today.

[ainsoph] 16/1/2003 11:11

just cashed my twt trading shares for average 65% gain over two weeks .....duh


'They lost 4.8 percent last year, when the FTSE All-Share Leisure & Hotels Index fell 24 percent' duh

you really have no idea what you are saying matthewa - just open your mouth and let the gargage spill out ........ duh


ains


01/16 09:12
Thistle Says Full-Year Profit to Decline in Line With Forecasts
By Candace Carpenter


London, Jan. 16 (Bloomberg) -- Thistle Hotels Plc, whose 22 London properties include one overlooking Tower Bridge, said full- year profit will probably decline in line with forecasts following a slump in international business travel.

The consensus estimate for pretax profit is about 33 million pounds ($53 million), Chief Executive Officer Ian Burke said in an interview. That compares with 49 million pounds a year ago. The company said it will release the figures on March 3.

Thistle reported an increase in revenue per room, a measure of profitability, in the second half from a year ago, when it had declines of as much as 25 percent after Sept. 11. The hotelier and rivals with pricier rooms in big cities may suffer more if economies don't improve and if war breaks out with Iraq, analysts said.

``It's very difficult to forecast the outlook for 2003,'' Burke said. ``People know the whole travel sector, including hotels, is sensitive to any adverse political event.''

Shares of the operator of 56 U.K. hotels were indicated down 1.5 pence, or 1.4 percent, at 108p. They lost 4.8 percent last year, when the FTSE All-Share Leisure & Hotels Index fell 24 percent.

Second-half revenue per room, reflecting occupancy levels and average room rates, rose 2.7 percent at the 18 owned and leased hotels, Thistle said. For 2002, that measure fell 5.6 percent at all Thistle properties, including 38 run under management contracts.

The company filled more rooms at its owned hotels, which are mostly in London, though at a discount as it targeted more tourists amid a slowdown in business travel. The average rate for 2002 was 74.56 pounds ($120), down 10 percent.

Thistle was subject to a takeover pursuit in November by Orb Estates Plc, a U.K. real-estate company. Last week, Orb said it won't make a formal offer.

Analysts have said Quek Leng Chan, chairman of BIL International Ltd., which owns 46 percent of Thistle, may want to sell the company's stake or link with a rival such as Millennium & Copthorne Plc, controlled by his cousin, to cut debt.

Burke declined to say whether any other corporate transactions may lie ahead.

[matthewa] 16/1/2003 10:45

Woof! Another Doomed stock Keep em Coming

[ainsoph] 16/1/2003 10:40

Trading statement today


London lift for Thistle Hotels
16 January 2003, Evening Standard

LONDON'S increased popularity as a short-stay destination for British and northern European holidaymakers eased a difficult year's trading for Thistle Hotels.




The average room rate for Thistle's 22 London hotels fell 10% to £75.33 in the year to 29 December but occupancy levels rose 2.6% to 75.9%. This softened the impact on group turnover, which was down 6.8% to £151m. Thistle has a total of 56 UK hotels.

[ainsoph] 10/1/2003 12:02

Orb drops plans to bid for Thistle
By Jenny Davey TIMES



ORB ESTATES, the secretive Jersey-based investment company that is being investigated by the Serious Fraud Office, yesterday confirmed that it has abandoned plans to bid for Thistle Hotels, London's largest hotelier.
Leisure analysts said that Orb's decision was no surprise, given the reluctance of BIL, the Singaporean company that controls 46 per cent of Thistle, to sell its stake to Orb.

The relationship between Thistle and Orb has been frosty since November, when Thistle launched a £14 million lawsuit against Orb in an attempt to recover cash it alleged was still owing from a £600 million property deal in March.

Orb said at the time that it planned to issue a counter-claim against Thistle, although the group has yet to lodge a claim in the courts.

Analysts said that the SFO investigation into Orb Estates had affected the company's credibility as a real bidder for Thistle.

The SFO raided Orb's offices in December after the start of an investigation into the alleged theft of funds belonging to Izodia, a former software company, in which Orb holds a 29.9 per cent per cent stake.

Speculation has since emerged that funds belonging to Izodia may have been managed on its behalf by an associate of Orb, Lynch Talbot.

Orb denies any wrongdoing.

Yesterday's statement from Orb regarding the Thistle takeover was issued in response to demands from the Takeover Panel. Orb was told on December 16 that it had to either make an offer for Thistle or announce that it would not proceed by January 15.

Orb said in the statement that although it has decided not to proceed, it reserves the right to make an offer for Thistle in the future, if the Thistle board agrees to recommend another offer by Orb, or a third party puts forward a bid.

[ainsoph] 09/1/2003 23:12

I think kissing death would be a hell of lot preferable to you .....

[matthewa] 09/1/2003 19:07

Another Ainsley Kiss of Death Stock....

[ainsoph] 09/1/2003 18:55

(AFX-Focus) 2003-01-09 17:38 GMT: Orb confirms will not proceed with offer for Thistle Hotels
LONDON (AFX) - Orb Estates PLC parent Orb a.r.l., confirmed that it is not going to proceed with an offer for Thistle Hotels PLC.
Orb was told by the Takeover Panel on Dec 16 that it had to either make an offer for Thistle or announce that it would not be proceeding with an offer by Jan 15.

Orb said it reserves the right to make an offer for Thistle at any time in the event that the board of Thistle agrees to recommend the making of an offer by Orb or a third party announces a firm intention to make an offer for Thistle.

[e-mail]

[ainsoph] 02/1/2003 14:32

Tax rebates totalling 17 million for London hotels according to Caterer and Hotelkeeper ..... related to rateable values


ains

[ainsoph] 02/1/2003 14:18

up over 5% intraday @ 113/117p on fairly heavy volume already over half a million shares on an otherwise very quiet day ..... US futures only recently opened and +



ains

[singaporetho] 23/12/2002 09:58

THO is going to be down for some time..
.@ this time of year it should be well up, but as confirmed they are giving rooms away @ cost to avoid sinking.I should leave it alone until below 90p in the new year, and hope we get some good news.
Merry Xmas all''''''''''''

[ainsoph] 20/12/2002 16:02

hmmmmmmmm ..... yes - it's quiet and a wide spread ......

[gchill] 20/12/2002 16:00

ans. Dead today again? '

Riding the favourite at Cheltenham, a jockey was well ahead of the field
when
suddenly out of nowhere he was hit in the face by a turkey and a string of
sausages.

He managed to control his mount and pulled back into the lead only to be
struck
by a box of Christmas crackers and a dozen mince pies.

Using all his skill he managed once again to steer his horse back to the
front
of the field when on the run in he took a blow to the head by a bottle of
sherry
and a chirtmas pud.

He still managed to come in second but went immediately to the stewards to
complain that he had been seriously hampered.

90pp merry xmas..................

[ainsoph] 20/12/2002 07:40

Director/Institutional Dealings
Action: Buy ; Number of shares: 17,000 (0.00%) Price: 114.00p
Notifier: Legal & General Inv Mgmt (Institution)
Announced: 2002-12-19; Traded: 2002-12-18
Remaining Holdings: 8,427,019 (1.75%)
--------------------------------------------------------
Action: Buy ; Number of shares: 250,000 (0.05%) Price: 118.00p
Notifier: HBOS (Institution)
Announced: 2002-12-17; Traded: 2002-12-16
Remaining Holdings: 13,277,105 (2.75%)
--------------------------------------------------------

[ainsoph] 19/12/2002 11:40

have a great life already thanks ...... just saying you haven't got a clue what you talking about ...... okay



ains

[ainsoph] 18/12/2002 11:38

ORb has problems with the fraud squad at this time according to recent press reports relating to Izodia ..... most hotels are old ..... even Buckingham Palace is old but wonder what that would fetch with a few acres of central London




ains

[gchill] 18/12/2002 11:31

ains/
Most of these hotels are old, and the services are in very poor condition, I recon you will see a 25% drop by the time Orb sorts this out/

[ainsoph] 18/12/2002 11:23

I am sure something will happen before too long - I am sure there are people out there interested .... you cannot build London Hotels over night when the market changes.

A lot of promotinal activity at this time



ains

[singaporetho] 18/12/2002 11:15

an..
If they wipe a few mil off the value! then try the management buyout what do you rec?

[singaporetho] 17/12/2002 16:41

Going to recommend dump_ and get on the telcomms...

[analysetho] 17/12/2002 16:36

Sing$ I told you 90p by xmas and then cold turkey///

[analysetho] 11/12/2002 14:58

Sing$ 90p by xmas watch the news#