MWB Group Share Discussion Threads

[sharw] 22/4/2007 15:05

Interesting development:

[alan@bj] 13/4/2007 09:32

And from Investor's Chronicle dated 30th March:-

Marylebone Warwick Balfour's share price has risen sixfold since the summer of 2004, but continues to undervalue the group's hotel interests. Indeed, adjusting for the value of the group's stakes in Marylebone Business Exchange (MBE see left) and upmarket retailer Liberty, its 82.5 per cent holding in the Malmaison/Hotel du Vin business is valued at only £106m. However, analysts expect this business to generate cash profits of £29.5m in 2007, driven by the existing 18 hotels and four new openings planned this year, rising to cash profits of £36m in 2008 as those new openings make a full contribution. Conservatively, that would place a value of £147m on MWB's stake, which equates to a net asset value (NAV) uplift of around 50p a share above current valuations.

As for the group's two quoted holdings, profits at MBE soared last year (see left), helped by a 13 per cent increase in revenue per occupied workstation at the end of 2006, compared with the level 18 months earlier. Liberty, meanwhile, benefited from the successful launch of its luxury 'Liberty of London' brand. So KBC Peel Hunt expects adjusted NAV to rise from 185p to 209p this year.

[alan@bj] 13/4/2007 09:27

From today's Times:-

Flotation to put £2.5bn value on first UK hotel ReitJames Rossiter and Dominic Walsh
Two of Britain's leading entrepreneurs are preparing to announce plans to float a hotel property group worth an estimated £2.5 billion on the London Stock Exchange, The Times has learnt.

Richard Balfour-Lynn, the head of Marylebone Warwick Balfour, and Sir David Michels, former chief executive of Hilton Group, have teamed up with Bank of Scotland and Royal Bank of Scotland to pool between 60 and 80 hotels under the De Vere, Hilton and Marriott brands in a real estate investment trust (Reit).

The flotation, which is expected to be announced in the next two weeks, will be the first of its kind in Europe to use the Reit vehicle for hotel assets.

The group, likely to be called Vector, is being advised by Deutsche Bank, supported by UBS and Goldman Sachs. JPMorgan Cazenove and Citigroup have also been hired to help promote what promises to be the biggest new issue this year, while DTZ is providing property valuations.

Mr Balfour-Lynn will be the principal executive director of the Reit, while Sir David will also sit on the board. The former Hilton boss will in addition become chairman of Vision, an asset management firm that will act as a conduit between the Reit and the companies that manage the hotels.

The Reit is also expected to appoint four big-hitting non-executive directors, with Simon Duffy, the former head of NTL, becoming chairman.

The hotels to be acquired by the Reit include the majority of the De Vere and Village hotels bought last year by Mr Balfour-Lynn's Alternative Hotel Group for more than £1 billion in a venture with Bank of Scotland, as well as the former Insignia Style conference centres bought in 2005 for £325 million and now rebranded as De Vere Venues.

A small number of De Vere hotels under refurbishment will be excluded from the quoted company, including The Grand in Brighton, although these may be acquired later.

Royal Bank will be pooling about 15 Hilton hotels as well as the Marriott Manchester Victoria and Albert Hotel. Plans to include the rest of the £1 billion Marriott UK chain have been put on hold. The Malmaison and Hotel du Vin chains owned by MWB could be included.

[phuckerty] 06/4/2007 16:24

Hi
The last time deusch bank took a stake in MWB the price went from 70p to £1.75p i have penceled in a target price of £3.50 in the next 18 months and that was 6 months ago, it seems rather conservative now.
Regards

[alan@bj] 02/4/2007 10:32

Thanks PH. Sprechen de deutsche?

[phuckerty] 01/4/2007 19:59

Hi
Ask the German bank that has just taken a massive stake in MWB

[alan@bj] 01/4/2007 19:06

I've been away for a few days, just seen Friday's 20p jump. A very nice surprise. Wonder what's cooking?

[finess] 31/3/2007 08:48

What happend to make the share price do that then, not complaining, :-)

[markt] 26/3/2007 14:06

MWB profit from increase in share price of MBE business

56M pounds

2M increase today....

A large chunk of the cap. value of MWB.

[sharw] 21/3/2007 22:33

Don't wake anybody up, but MWB sneaked out their results today. They look quite good although the massive provision for the incentive scheme jars somewhat. I still don't think the market has appreciated the potential rating of a stand-alone Malmaison/H du V company.

What a strange reaction - substantially down until about 11 after which it soared to a new closing high.

[gritter] 21/3/2007 18:17

What an odd day. I couldn't work out the initial drop unless it was to do with the director's own take from the realisation programme. I don't think this had been made so clear previously and may have caused the initial negative trend. The end result was however more sensible and hopefully, with a broker's tip here and an IC tip there, we will go past £3.

[broadwood] 21/3/2007 16:53

Didn't stay down for long did it?

Nearly 10% up at the end.Great stuff.

[alan@bj] 21/3/2007 12:46

This is better - from -12.75p to +4p

[alan@bj] 21/3/2007 08:06

Results look pretty good but the share price is down. Possibly due to the realisation programme being extended to Dec 2008?

[sweep stock] 20/3/2007 09:58

Investors Chronic had the results down as today (20th)

[leytonorient] 20/3/2007 09:28

im have bought in

Lee

[alan@bj] 20/3/2007 08:48

Gritter,

Where did you see the results should be out today? Just checked with my NatWest stockbrokers online, which indicates a preliminary announcement 15th March (clearly wrongly), annual report 17th April and AGM 25th May.

[gritter] 18/3/2007 21:37

Apparently resulta are out on Tuesday, NAV should be significantly increased in view of the share price for MBE.

[phuckerty] 13/3/2007 09:05

Hi
Well it is just as well you are holding now as this has quite a way to go IMHO.
Regards

[gritter] 11/3/2007 17:10

I wasn't holding, that's what happened!!

[phuckerty] 10/3/2007 18:27

Hi
What happend when it was 90p then?

[gritter] 09/3/2007 18:27

never quite takes off, this share, does it?

[markt] 28/2/2007 16:34

..maybe someone bought 300k at around 215 and sold 250k of them at around 240 the same day !!

if so ...then a nice little earner !

[alan@bj] 28/2/2007 16:12

Excellent bounce-back for MWB. A buy of 300,000 shares went through shortly after I posted the above so someone must have faith in this one.

[alan@bj] 28/2/2007 09:21

Not today unfortunately Gucci. Volume low as usual, mark down overdonein my opinion. Depends which way the Dow moves this afternoon, but I'd guess there will be a bounce.