Minoan Share Discussion Threads

[rafboy] 26/1/2022 13:15

As long as we don’t lose the house!!

[wi1l] 26/1/2022 12:30

Hello - we seem to have lost the house broker.

[wi1l] 26/1/2022 07:37

Five-star units’ full recovery

Top-tier hotels record last year total turnover just short of that in record year 2019




Greek tourism has secured an upgrade toward higher price and quality levels in its service and infrastructure amid the coronavirus pandemic, according to a major survey by the Hellenic Chamber of Hotels on last year’s performance in the hospitality sector.

The survey further found that hotel turnover last year was 35% down on that of record year 2019, as it reached 5.48 billion euros against €8.41 billion in 2019. However, the results are not the same for every category of hotels: The top end of the market – i.e. five-star units – recorded a turnover of €2.81 billion in 2021, against €3.07 billion in 2019; that means it was only down by 8.4% from the last year before the pandemic.

Market sources comment that were it not for the earlier closing of the season, with the onset of the Delta variant and the slightly later start owing to the previous wave of the pandemic, the season would have easily been better for five-star hotels: In the July-September period the top-tier units had on average higher figures than those in 2019.

[waterloo01] 26/1/2022 07:27

Athens (and Crete) closes down most services over snow. Guess Dev law might end up being next week!

[daicaprice] 25/1/2022 20:54

All positive waterloo and a level 2 days here compared to all of my other holdings and AIM in general is like a 10% gain!! It’s been dire out there.

DC

[waterloo01] 25/1/2022 14:39

Friday

AGENDA OF THE PLENARY SESSION


NTHI MEETING
Thursday 27 January 2022
12.00

MEETING X
Friday 28 January 2022
Time 09.00΄


LAW PLAN

DEVELOPMENT AND INVESTMENT

Only discussion and voting on the principle, the articles and the whole of the draft law: "Development Law - Greece Strong Development".
RAPPORTEURS : Maximos Senetakis and Charalambos (Haris) Mamoulakis.

Note : The Conference of Presidents decided at the meeting of January 20, 2022 to discuss the bill in two (2) meetings.

[waterloo01] 23/1/2022 09:32

Property all set for rebound

This year the property market is set to recover all the ground lost in the last couple of years and return to the levels recorded in 2019, according to George Mountis, managing partner at Delfi Partners and Co.

“If the pandemic allows it, we expect to see more stability and recovery in 2022. the Greek property market has significant prospects for a steady rebound as there is considerable interest in various asset categories,” the head of the property consultancy told Kathimerini.

He notes that domestic buyers are again interested in owning their own home, “while we anticipate that, after the shock of the pandemic, investment in properties that can be used as short-term rentals will post a strong recovery, even involving non-professionals investors.”

“At the same time there is increasing interest in holiday homes and in the use of the Golden Visa program,” Mountis points out.

As far as prices are concerned, according to Delfi there will be an increase in the final price tags of newbuilds due to the increase in the cost of new construction materials. However, the degree of increase will depend on the duration of the inflation crisis, banks determination to lend more, as well as the course of the pandemic

[wi1l] 22/1/2022 16:36

Their spelling needs to improve though!

[wi1l] 22/1/2022 16:34

It was just the "investment confirmed" bit was new to me and had a nice ring to it!

[waterloo01] 22/1/2022 16:20

The Project has been listed by Enterprise Greece for sometime. Not sure anything new? Maybe they are giving it more prominence now the new dev law is in.

[wi1l] 22/1/2022 16:11

What does this mean................

[tim000] 22/1/2022 12:00

Re: mdv, he posted that he had added to his holding as recently as September 2020 and was last posting on Greece last May. So I think he must still be on board.

[nobbygnome] 22/1/2022 11:48

MIN has to one of the best opportunities on Aim at the moment….but it is completely under the radar! Therein lies the opportunity for those ahead of the game….

[tim000] 22/1/2022 11:43

I’m hoping we never get to see an update to the book value. I can’t believe anyone taking on the project would want a tiny company like MIN involved in the development - they’d just be a nuisance. If the Directors and main shareholders want the company to continue, it would be as a REIT, I’d imagine. But with an ageing Board, why not just sell up completely and retire?

[atlantic57] 22/1/2022 11:41

Tim that is a very good summary of the conflicting factors .My own perspective has been that the original contracts that were signed with the foundation were so unattractive that potential partners were not keen to get on board .

However for the last 12 months the Company been expecting fundamental changes of a positive nature which have now come to fruition.

I suspect your final comment will be the key issue now .Can the board get an offer that the majority shareholders are happy with.

[waterloo01] 22/1/2022 11:03

Good post tim000. It will be interesting if the book value goes up once they confirm the 99yr lease's. With the last bit of the dev law next week (the bit with funding/grants etc) I'm sure things will start to look a lot more active. Everyone from Church, Gov (Central and local) and the company want to see it move towards actual development.

[tim000] 22/1/2022 10:44

You've done well to get your average down so low, DC. The current discount to net book value must be unique on the LSE. There are plenty of PIs who invest in stocks based on this metric, indeed I think it used to be the basis for "asset strippers" to acquire companies. But those PIs are avoiding MIN, perhaps because it's under their radar, with no upward spikes in the share price that put the company on the daily leaderboard. Obviously, what's holding the share price back is a combination of history, regular share issues to non-investors (ie service providers) and a lack of faith in management. But imho, CE must know the Greek commercial property industry incredibly well, and no doubt has connections with government. Nicholas Day, Martin Gilbert & Ismail Ghandour are also excellent people to have on board as shareholders. No doubt all have good international connections with property developers (indeed I think Ace was founded through overseas investors connected to Ghandour). So I think the project is bound to proceed at some point, it just comes down to the price at which we sell our interest.

[atlantic57] 21/1/2022 17:33

Thank you Tim I hope so I am currently well underwater by a big margin.

However I have remained on board as the discount between share price and net book value seems very attractive and that is before we look at recent positive developments.

[tim000] 21/1/2022 17:14

I see Atlantic has been posting on this thread since its inception in Nov 2012, and DC nearly as long. I hope both profit handsomely for their loyalty as shareholders - and soon too.

[waterloo01] 21/1/2022 16:36

GREEK PARLIAMENT
ND PRE-CHAIR PERIOD
PARLIAMENTARY DEMOCRACY
SESSION III

AGENDA OF THE PLENARY SESSION

MEETING X
Tuesday 25 January 2022
Time 10.00΄

XAI MEETING
Wednesday, January 26, 2022
Time 10.00΄

LAW PLAN

DEVELOPMENT AND INVESTMENT

Only discussion and voting on the principle, the articles and the whole of the draft law: "Development Law - Greece Strong Development".
RAPPORTEURS : Maximos Senetakis and Charalambos (Haris) Mamoulakis.

Note: The Conference of Presidents decided at the meeting of January 20, 2022 to discuss the bill in two (2) meetings.

[waterloo01] 21/1/2022 16:32

Re reading, it's not passed yet as in discussions next Mon-Wed. Then it will be.

[atlantic57] 21/1/2022 16:27

That is great news Waterloo.
Let us hope that Russia does not invade
Ukraine.

[waterloo01] 21/1/2022 16:11

Dev law passed. In gazette next week. (edit: next week!)

The new Development Law passed by a majority in the competent Parliament . The draft law was voted in favor by the MPs of the coalition, while SYRIZA, KINAL and Elliniki Lysi kept reservations for its passage until its discussion in the plenary session of the Parliament. According to the law, KKE and MERA 25 voted. The discussion of the draft law will be completed next Wednesday, January 26, 2021, after it will be discussed in the two previous days in the plenary session of the Parliament.

Speaking a while ago in Parliament, the person in charge. Minister of Development & Investment, Nikos Papathanasis , focused on the reasons why the government brought the new law to a vote. According to Mr. Papathanasis, the government never devalued the previous law 4399/2016, but had to bring a new one that will be adapted to the new conditions created by the Recovery Fund, the Fair Development Plan, the European goals for green and digital transition, new entrepreneurship, the new regional aid map, etc.

[atlantic57] 21/1/2022 16:09

As a regular I can confirm that I had plenty of instant message exchanges with mdv at the time.I suspect he has long gone as a shareholder.