Elegant Hotels Share Discussion Threads

[sharw] 24/12/2015 12:22

To hold the AGM at 9a.m. in the offices of the Company's solicitors in central London says one thing - "We don't want to see any shareholders there". Shame on them.

[carcosa] 16/12/2015 09:57

Presentation Material: hxxp://www.eleganthotelsgroup.com/media/1081/ehg-fy15-results-final-presentation.pdf

[le4r] 16/12/2015 08:15

Hello all. Have been tracking this co for a little while.... Now a holder following the nice announcement this morning! Agreed with the above. Think management seem credible and it's a great prospect - further growth or take over candidate in due course. Fab yield too.

[jeff h] 16/12/2015 08:09

The last broker forecast I had was for profits of GBP £10.15m.

Adjusted pbt per the results was USD $16.1m which equates to approx. GBP £10.7m using a £1 = $1.50 exchange rate.

[tintin82] 16/12/2015 08:08

Happy holder this morning. My rational behind taking this investment over summer was the deterioration of the middle east tourist industry. I think long term we may expect EHG to be taken over as the big players look for more opportunities outside middle east.

[winsome147] 16/12/2015 07:58

Nice results this morning. I think the media will pick up on EHG now we have a view of where the financials are. Perhaps they will break through the 115p level. Forward 7% yld is promised. Great news Bardados is taking business away from Middle East.

[wjccghcc] 30/11/2015 10:29

It's their first finals since listing and it may have taken longer than they thought. Happy to cut them a bit of slack this time.

[jeff h] 30/11/2015 10:26

An acquisition or corporate event in the offing perhaps?

[tintin82] 30/11/2015 10:24

Who cares for an explanation when it clearly states 'no change in guidance'.

[jakedog2] 30/11/2015 09:23

Results date moved back to Weds 16th Dec.

Been on the mkt a matter of weeks & it is already moving it's reporting dates.

No explanation given in the rns

[jeff h] 24/11/2015 20:02

Full year results out a week on Thursday - December 3rd.

[eezymunny] 27/10/2015 21:59

Not quite right Jeff H

From the admission doc

"As at 1 June 2005, the Elegant Hotels Companies’ property, plant and equipment were revalued by
independent valuers at a replacement cost of $114,552k. The overall increase in value was taken to
revaluation surplus. Subsequent additions are shown at cost.

As at 15 April 2015 an updated valuation of property, plant and equipment was performed. This valuation
significantly exceeded book value and nothing was identified that would reasonably lead to an impairment."

So there have been some uplifts from historic cost along the way. This latest one is a big one. Personally I don't attach much to property valuations. I prefer to look at the cash flow those properties might produce. A valuer can come to a wide range of conclusions. If they knew what they were doing they'd be property millionaires and not valuers ;)

[jeff h] 27/10/2015 19:32

EM - the Hardman Research report which I've posted a link to in the header mentions the valuations. I think you are referring to historic cost for the much lower NAV figure whereas the CBRE valuation gives a figure for the assets based on current/April 2015 value.

[jbarcroftr] 27/10/2015 19:23

And a predator would have to,pay a premium

[eezymunny] 27/10/2015 19:05

Ah muchly thanks Jeff H. It's there in the interims and I missed it. That's one heck of an uplift from the previous valuation! Which just goes to show how useless property valuers are :) I expect some rum & cokes were involved....

[jeff h] 26/10/2015 20:55

EM - CBRE valued the properties at USD $235.5m in April 2015 hence the increased NAV.

[sharw] 26/10/2015 16:51

I can't get enthusiastic about appointing a director who has been involved in putting no less than 11 companies into liquidation/administration.

[eezymunny] 23/10/2015 10:23

Anyone got an IC sub and can view the whole article? ST says "Not only do the shares offer an attractive prospective dividend yield of 6.5 per cent, but they are rated on a modest 10 times earnings estimates and 25 per cent below their likely year-end net asset value of 144p"

I can't see where he gets his 144p NAV from???!!!

The admission doc has a pro forma balance sheet with NAV shown as $103m or c. £68m. That's a NAV/share of c. 76p. No big deal methinks as seems reasonable to value this on the cash it's generating and the dividend that it can afford. With a 7p dividend forecast the yield is c. 6.2% here. Pretty tasty, tho I think that will use a significant majority of the free cash flow.

Looks quite a decent biz at first glance. I've a tiny morsel and would add if we were lucky enough to get an op to buy cheaper.

[tintin82] 20/10/2015 21:57

I just read that article, very positive indeed. Looking forward to lots of positive news flow.

[jeff h] 20/10/2015 20:18

Simon Thompson of the IC view:-

'Not only do the shares offer an attractive prospective dividend yield of 6.5 per cent, but they are rated on a modest 10 times earnings estimates and 25 per cent below their likely year-end net asset value of 144p. Net debt is about 20 per cent of shareholders funds, so finances are not stretched with operating profit covering interest costs almost seven times over, so leaving cash available to return to shareholders.’

[jbarcroftr] 19/10/2015 14:55

Reassuring update

[jeff h] 08/9/2015 10:37

Director buy:-

[tintin82] 17/8/2015 08:38

I am onboard today. Cash generation looks good, niche market, strong management.