Daniel Thwaites Share Discussion Threads

[pdosullivan] 12/4/2024 08:17

For a period during the pandemic they entertained shareholders submitting written questions before the AGM, with detailed responses provided on the website. It is a pity that they seem to have discontinued that.

[david2013] 11/4/2024 17:13

I note that the director bought some recently at 71p. Has any of the group ever been to the agm and listened to the directors and cfo describe the company in a positive light?

[pdosullivan] 07/4/2024 08:03

GBP44m and trading at around a sixth of tangible NAV

[coolen] 06/4/2024 22:24

Starmer's team are threatening to cancel the IHT relief of companies such as Thwaites, so maybe it is a stream of sellers ahead of that. Any views ?

[gfrae] 06/4/2024 21:45

NAV over £4. Cap around £70m . Look ridiculously cheap. But, there seems to be a steady seller.

[david2013] 06/4/2024 21:31

I wouldn’t mind buying some Thwaites Shares. Live in York. Middletons hotel must be worth 6 Million. Judges Lodgings very well developed and rammed in Summer. Light Horseman a bit shabby. What’s the market cap?

[pdosullivan] 06/4/2024 14:11

I wonder if Thwaites would be open to buying some or all of Adnams given the comparable business models.

[pugugly] 22/6/2023 21:37

Link to the new ASQE Advfn link thanks to ruslan1.



Quote 80/100 - Spread impossible

26th June more like 95/97 but if largish holder looks as though need to take a hair cut. NAV and yield look interesting but with increase in mortgage rated and infltion suspect only for very long term holders - not a dealing stock.

[pdosullivan] 22/6/2023 21:00

Yes and the Group is well placed to pounce on any distressed hotel assets that meet its acquisition criteria in the current market backdrop.

[gfrae] 22/6/2023 08:20

Good figs again. Company has interest rate rise protection in addition to long term borrowings at a reasonable rate. Beneficiary of those holidaying in the UK. PE of about 5, or without the interest rate swaps about 10. Pension fund surplus. NAV of £4. Etc,etc....but market not interested !

[jbfnfn] 06/2/2020 19:06

Mark Fisher the non-exec appointed June 2019 bought a few shares.

[timnet] 03/1/2020 11:31

Do I detect a wee bit of movement?

[jbfnfn] 15/11/2019 21:11

The interim results failed to move the share price. I guess that means results are not too bad, steady as she goes.

They only mention one like for like figure in the results 2% turnover increase in Pubs and Inns. I am not sure how much of the rest of the revenue growth is the result of recent investments and refurbishments coming onstream.

For a company with a substantial hotel business they don't mention Revpar (accommodation revenue per available room), occupancy rate or average room rate. Hopefully they have these numbers to hand internally.

A couple of plus points for me they sold the Funny Girls vennue but kept the two pubs associated with the transaction. This means they are no longer managing a theatrical venue. Optimistic that they can make money from the pubs. Also they sold three pubs and a parcel of land for a profit. This helps to have some faith in the valuation of the properties in the balance sheet. The only caveat here is we don't know the profit on the value of the parcel of land sold.

Another plus point the debt came down.

I'm holding on to my small stake here. I'm just a penny punter.

[gfrae] 13/11/2019 15:36

Good results aren't they?
Normalised Eps of 9.2p versus 7.2p and debt reduced by £10m.
Again those disastrous swaps drag them down, who was responsible for those?

[scotch broth] 13/11/2019 15:07

Nothing to say on the interim results. I do not expect to get rich on this company though.

[scotch broth] 31/10/2019 09:42

The Thwaites discount applies to the total bill when staying . Must be booked via shareholder booking line.

[scotch broth] 31/10/2019 08:55

Some holders may be missing out because the discount is only shown in the paper version of the annual report ,not the online version.

[gfrae] 25/10/2019 12:17

We stayed at Heysham in the Summer, also very good, and 25% off applied to whole bill.

[david2013] 25/10/2019 09:22

We stayed in the newly refurbished Beverly Arms on Sunday night. Very busy, excellent facilities and staff. I am not a shareholder yet but I have been impressed by the 3 refurbished inns/hotels that I am familiar with.Does the 25 percent discount to shareholders apply to food and drink?

[coolen] 18/9/2019 23:19

Short term, sluggish turnover and increased minimum wage costs ?
Longer term, NAV looks solid enough.

[timnet] 18/9/2019 10:57

Anyone know why these are languishing at these levels? Anyone out there at all?

[scotch broth] 16/7/2019 21:49

Just a point about shareholder perks.
Thwaites offer 25% discount as mentioned in the annual report each year.
Peel offer 50% but off the rack rate which is a notional top price they would charge if they could get away with it.

[jbfnfn] 18/6/2019 19:48

xiphilinus

I'm not knocking Peel Hotels (PHO). I have a small holding of those as well for the same reason as Thwaites, undervalued assets. The Peel brothers are serious business people.

From the last PHO accounts Peel have 9 hotels in total 2 are 4 star and 7 are 3 star hotels. Thwaites have Inns and Hotels. I think Thwaites have about 7 4 star hotels. Of the Inns they say in the annual report "We operate each of the inns to at least a four AA star and in many cases five AA star level".

On a star rating basis Peel are mainly a 3 star operation Thwaites mainly a 4 star operation. So at least marginally Thwaites is more upmarket.

Perhaps more importantly Thwaites Hotels may have better facilities. A number have swimming pools. They make a thing out of SPA treatments. I'm not sure of the facilities at Peel's hotels.

What the Hotel trade could do with is some decent economic growth in the UK. With some growth would come more corporate events and more people trading up from the ever growing number of Travel Lodges and Premier Inns.

[xiphilinus] 18/6/2019 16:39

Very good assessment. I was interested in the reference to Peel. More downmarket? I stayed in their hotel in Bradford. It is a very fine building, and a pleasant reasonably priced place to stay. They are trying hard. From their website the other hotels seem fine buildings, though perhaps no longer meeting modern demands, though being a dinosaur I fail to see how. Neither Thwaites nor Peel provide any shareholder perks, and I think they are missing a trick there. We mostly use hotels etc where are shareholder loyalty is rewarded

[gfrae] 12/6/2019 15:34

I havn't seen the pictures but am glad the horses look well !
To be fair, these figures are skewed by the disastrous interest rate options, and underlyng earnings are a bit less than last year, ie eps of 10 or 11, which makes them reasonably priced at 120.