Global Value Investing

[chevalierdaven]

a catalyst on Keck : just announced they are deploying the warchest to buy the famous Sofitel NY (the one where DSK, head of IMF had an affair with a maid in suite 2806!) for $273m. NOI 11.8m$.

I see Keck as a slow long term play of transformation of hidden book value into earnings so this is great news.

Surely with the W San Fran and the Sofitel NY in its portfolio, both US prime assets, the perception of Keck is bound to improve and gradually people will stop considering it as a Vietnamese/ Asian/ even HK property play warranting a heavy discount?