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Surprise this board is so quiet
Strategic Hotels & Resorts (NYSE:BEE) is one of today's best performing low-priced stocks, up 6.8% to $4.85 on 0.9x average daily volume. Approximately 1.2 million shares have traded hands today vs. 30-day average volume of 1.3 million shares.
High volume often signals a change in trends. Shares of Strategic Hotels & Resorts are currently trading above their 50-day moving average (MA) of $4.23 and above their 200-day MA of $4.16.
CHICAGO, Sept. 27 /PRNewswire/ -- Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that the company has signed a share purchase agreement for the sale of the InterContinental Prague to an investment group led by an affiliate of Westmont Hospitality for a total consideration of approximately euro 110.6 million, or approximately euro 297,000 per room. The total consideration represents the outstanding amount of the property's third party debt and the current interest rate swap liability related to the third party indebtedness, which is estimated to be approximately euro 9.0 million as of August 31. In addition, approximately euro 2.0 million of restricted cash related to the property will be released to the company. The sale, subject to certain closing contingencies, is scheduled to close in the fourth quarter. The 372-room property was forecasted to contribute approximately euro 6.1 million in EBITDA for the full year 2010, representing a sales multiple of 18.1 times and a capitalization rate of 4.8% on NOI.
Chief Executive Officer Laurence Geller remarked, "We are pleased to announce the sale of this property as it reduces corporate overhead related to our European operations, and is in line with the company's disciplined, strategic disposition strategy.
http://www.prnewswire.com/news-releases/strategic-hotels--resorts-signs-agreement-to-sell-the-intercontinental-prague-103856333.html
man what the deal.. this pig been falling like a rock. I thought the travel business was starting to recover according to the "media". guess NOT..
Strategic Hotels & Resorts Inc. (NYSE:BEE) jumped 2.80% to $4.41 following analyst at Raymond James upgraded Strategic Hotels & Resorts from Market Perform to Outperform and set a price target of $6.
@ $4.52 at the moment
Looks like Bill Gates bought 8% of the stock, also summer time is coming which means more hotels
This is the true value of the company, providing that economic recovery sustains. Whether BEE will hit that in fiscal 2010 I can't say, and honestly I merely had expectations of five dollars in 3rd Q this year so....
Good luck with your trades, two different styles of investing and that is a good thing...
malc
malc, as you can see in my last post, i close my position...make a great trade and never look back...
i think that the stock has treating you well, thats good...
i think that this level of 5.8 its very interesting to make a short again...
i still dont see BEE in 8 usd..
we will see.
best regards.
Arena - Not an eight dollar stock eh? Hmmm.
malc
3.35
im beggining to close the short positions.....
im leaving a 30% to see if it drop more...
good for the people who read the short at 3.95 recomendation..
good look
It appears you may be right here, and i am exiting tmmrw and waiting for a lower entry point. already a 4x for me so its no big sweat and i could use some extra powder tmmrw anyway.
thanks for your posts,
malc.
and its important to have this in mind
Net loss attributable to common shareholders was $274.8 million, or
$3.65 per diluted share, compared with net loss attributable to common
shareholders of $348.2 million, or $4.63 per diluted share, in the
prior year.
So they are loosing a lot of money....
....so that erase all the profits for the 3 years before...and before
that they where loosing 1.53 per share 2004.
FFO was a loss of $155.8 million, or $2.07 per diluted share, compared
with a loss of $269.0 million, or $3.53 per diluted share, in the
prior year
they are destroying the equity year by year they are losing money at
full hands....
they are selling the assets to recover the losses, and that mean less
profit potential......
8usd....nop....dont think so....
malc, maybe the thing with bee are getting better, but i study this stock long ago, and things are better, but it doesnt have still the fundamentals to go to 8.....i think they have somo road ahead,....
the movement i expect, is a pullback to levels of 3.2 or 3.3....if you are a fundamentalist that will be good for you, because this kind of movement isnt sustainable.....this is (im not sure how to say in english) euphoria....this is a movement that isnt healty.....its too overbought, and whent things get too overbought, the drop is heavy..
knowing bee.....i think that when it begins to drop, the fall will be very heavy
I totally disagree. you are a chartist, obviously. nothing wrong with that, but have you considered that perhaps this latest run is a realization that the company is on solid ground again and that this is still an 8 dollar stock? just an investors perspective. if you are right and it does go back down to around 2 bucks im adding more...
malc
too overbought---
this stock is going all the way down....
the movement isnt sustainable....
RSI at 87!!
the last time the RSI was so high was at 80, and the stock drop from 3.08 to 1.4...
is very far from the SMA, too far....
we will see BEE in 3.2....just wait....the fall will be great...
i recomend short positions at 3.95 to close at 3.2 or 3.3....
is just too overbought...madness
NOPE! many others.. just be patient!
GL
No you are surely not. I have been long since the days of the bottom out around .75
BEE is certainly poised to recover fully now, and i didnt care a bit when they sold 2 of those hotels to hang tight thru the crash times.
When they reach 80-85% room occupancy then the EPS will return and the PPS should start picking back up quickly. I dont expect to see the days of a $10 PPS again anytime soon, but i think that minus those two hotels in mexico a fair valuation for the stock is around $8.
Good luck!
malc
Am I the only one in this or what.
When? what is your lower add price?
tia
GL
Nice run up yesterday. I don't have too much of this but I'd like to get more.
Nice opportunity coming soon, IMO.
check BQI, chart shows ready to pop. Probably you will thank me soon. And spread the news
please.
BEE back to hod again 1.97 puuuuuush!!!
Do you have any info on current state of the hotel industry?Looking at acquiring a chain of hotels but am not sure of the market valuations in this economy.
do you have any info on current state of the hotel industry?Looking at acquiring a chain of hotels but am not sure of the market valuations in this economy. Using rest. stock as currency, there are many deals out there but cash flowing is crucial.
PPS up today. 8-K and 10-K filled.. But earnings report was known on nov 4 and PPS didnt move then.. Selling 4 fourseasons hotel in Mexico wasnt a factor either.. wonder if any other significant news already leaked?
GLLs
Strategic Hotels & Resorts Reports Third Quarter 2009 Results
Date : 11/04/2009 @ 5:00PM
Source : PR Newswire
Stock : Strategic Hotels & Resorts, Inc. (BEE)
Quote : 1.74 0.18 (11.54%) @ 1:20PM
Strategic Hotels & Resorts Reports Third Quarter 2009 Results
CHICAGO, Nov. 4 /PRNewswire-FirstCall/ -- Strategic Hotels & Resorts (NYSE:BEE) today reported results for the third quarter ended September 30, 2009.
Third Quarter Recap -- Comparable funds from operations (Comparable FFO) was a loss of $0.07 per diluted share compared with income of $0.29 per diluted share in the prior year.
-- Quarterly Comparable EBITDA was $31.2 million compared with $55.8 million in the prior year.
-- North American total revenue per available room (Total RevPAR) decreased 21.9 percent and revenue per available room (RevPAR) decreased 22.6 percent driven by a 4.4 percentage point decrease in occupancy and a 17.8 percent decrease in average daily rate (ADR). Non-rooms revenue declined by 20.9 percent.
-- European Total RevPAR decreased 20.3 percent (12.6 percent in constant dollars) and RevPAR decreased 18.6 percent (10.5 percent in constant dollars).
-- North American gross operating profit (GOP) and EBITDA margins contracted 630 basis points and 680 basis points, respectively.
Chief Executive Officer Laurence Geller remarked, "Although operating performance continues to be impacted by challenges within the hospitality sector, recent macroeconomic trends, including 3.5% GDP growth in the third quarter, are reason for optimism that we are beginning to turn the corner on hotel demand.
"During the quarter we announced the appointment of new independent directors Raymond Gellein, former President of Starwood Hotels & Resorts' Global Development Group, and Eugene Reilly, President of AMB Property Corporation's Americas division. These appointments are in line with our previously announced strategy of strengthening the board composition in this volatile environment. The experience and outstanding credentials of these individuals in hospitality and real estate will enhance our execution strategy going forward."
Added Geller, "In October, we closed on the sale of the Four Seasons Mexico City at an attractive price in a difficult market. This transaction is directly aligned with our strategic asset disposition plan and provides an important source of liquidity to the company. Looking ahead, and in spite of the difficult near-term operating environment, we have confidence in the value and potential of our real estate platform."
Financial Results
The company reported third quarter 2009 financial results as follows: -- Net loss attributable to common shareholders was $73.5 million, or $0.97 per diluted share, compared with net loss attributable to common shareholders of $65.7 million, or $0.88 per diluted share, for the third quarter of 2008.
-- Comparable EBITDA was $31.2 million compared with $55.8 million for the third quarter of 2008.
-- FFO was a loss of $37.1 million, or $0.49 per diluted share, compared with a loss of $72.1 million, or $0.95 per diluted share, in the third quarter of 2008. Comparable FFO was a loss of $5.2 million, or $0.07 per diluted share, compared with income of $22.3 million, or $0.29 per diluted share, in the third quarter of 2008.
The company reported financial results for the nine month period ending September 30, 2009 as follows:
-- Net loss attributable to common shareholders was $202.6 million, or $2.69 per diluted share, compared with a net loss attributable to common shareholders of $63.1 million, or $0.84 per diluted share, for the nine month period ending September 30, 2008.
-- Comparable EBITDA was $87.5 million compared with $185.6 million for the nine month period ending September 30, 2008.
-- FFO was a loss of $100.5 million, or $1.34 per diluted share, compared with a net loss of $12.3 million, or $0.16 per diluted share, in the nine months ending September 30, 2008. Comparable FFO was a loss of $19.0 million, or $0.25 per diluted share, compared with income of $81.2 million, or $1.07 per diluted share, in the nine month period ending September 30, 2008.
Impairment Losses
Third quarter 2009 results include an impairment loss totaling $30.8 million for the write-down of the carrying value of the Renaissance Le Parc to its estimated fair value. This one-time charge has been excluded from Comparable EBITDA, FFO and FFO per share metrics.
Transaction Update
During the quarter, the company entered into a joint venture agreement on its 60-acre ocean front land parcel near the Four Seasons Punta Mita Resort in Nayarit, Mexico with Cantiles de Mita, S.A. de C.V., a wholly owned subsidiary of DINE, the master developer of Punta Mita and original seller of the land parcel. In exchange for an interest in the land, the company was released from its final installment payment of $17.5 million which was due in August 2009 and received a preferred position which entitles the company to receive the first $12.0 million of distributions generated from the project with any excess distributions split equally among the partners.
Subsequent Event
The company closed on the sale of the Four Seasons Mexico City to Meridia Capital for a gross sales price of $54.0 million, or $225,000 per room. The transaction closed on October 29, 2009.
Earnings Call
The company will conduct its third quarter 2009 conference call for investors and other interested parties on November 5, 2009 at 10:00 a.m. Eastern Time (ET). Interested individuals are invited to listen to the call by telephone at 888-713-4205 (toll international: 617-213-4862) with pass code 30443392. To participate on the web cast, log on to http://www.strategichotels.com/ or https://www.theconferencingservice.com/prereg/key.process?key=PQUGYJWCM 15 minutes before the call to download the necessary software. For those unable to listen to the call live, a taped rebroadcast will be available beginning at 1:00 p.m. ET on November 5, 2009, through 11:59 p.m. ET on November 12, 2009. To access the replay, dial 888-286-8010 (toll international: 617-801-6888) and request replay pin number 86018676. A replay of the call will also be available on the Internet at http://www.strategichotels.com/ or http://www.earnings.com/ for 30 days after the call.
The company also produces supplemental financial data that includes detailed information regarding its operating results. This supplemental data is considered an integral part of this earnings release. These materials are available on the Strategic Hotels & Resorts' website at http://www.strategichotels.com/ within the third quarter information section.
Portfolio Definitions
North American hotel comparisons for the third quarter 2009 are derived from the company's hotel portfolio at September 30, 2009, consisting of properties in which operations are included in the consolidated results of the company.
European hotel comparisons for the third quarter 2009 are derived from the company's European owned and leased hotel properties at September 30, 2009.
About the Company
Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe. The company currently has ownership interests in 18 properties with an aggregate of 8,118 rooms. For a list of current properties and for further information, please visit the company's website at http://www.strategichotels.com/.
This press release contains forward-looking statements about Strategic Hotels & Resorts (the "Company"). Except for historical information, the matters discussed in this press release are forward-looking statements subject to certain risks and uncertainties. Actual results could differ materially from the Company's projections. Factors that may contribute to these differences include, but are not limited to the following: economic conditions generally and in the real estate market specifically, including further deterioration of the global economic downturn and the extent of its effect on business and leisure travel and the lodging industry; demand for hotel rooms in our current and proposed market areas; outbreak of contagious diseases such as the H1N1 virus; our liquidity and refinancing demands; availability of capital; the recovery of financing markets and our ability to obtain or refinance debt; our ability to comply with covenants contained in our debt facilities; rising interest rates and operating costs; rising insurance premiums; cash available for capital expenditures; competition; ability to dispose of existing properties in a manner consistent with our disposition strategy and liquidity needs; delays and cost overruns in construction and development; demand for hotel condominiums; marketing challenges associated with entering new lines of business; risks related to natural disasters; the effect of threats of terrorism and increased security precautions on travel patterns and hotel bookings; the outbreak of hostilities and international political instability; legislative or regulatory changes, including changes to laws governing the taxation of REITs; and changes in generally accepted accounting principles, policies and guidelines applicable to REITs.
Maybe not tomorrow but certainly next week imho .
I would agree that it looks to easily get back over $3.00 a share now.
Looks good for more from here,no other reits for now :)
SERFCORP; still fair buy at this level? where else are you in RE space?
Chart has lots of room for it to continue the move higher imo :)
mlkr, i have been in this stock since the bottom last oct. around .70 and plan on holding it right back up to the top around $10-12. likely at least 5 yrs. for a full recovery, if at all, but i think we will see $5 this time next year.
A good place to keep track of hotel news http://hotelnewsnow.com/Home.aspx
Nice run for Bee the last two days and that comes after a downgrade by Ford Equity Research. Can't wait to hear what the numbers are for Q2.
kk
mattg34,
Sounds good to me!
kk
this looks really nice once it breaks trendline up to 1.26 up to 1.74 before further resistance need volume
skid,
Now that you mention it, I would be tickled pink to see $1.74.
kk
I'd settle for the recent high of 1.74. :) They need to sell some assets to pay down debt.
Sorry for the duplicate post.
I'm hoping this stock can get back to last years price in September. That would be sweet! Actually, I'd settle for 50% of last September's price.
kauaikid
I'm hoping this stock can get back to last years price in September. That would be sweet! Actually, I'd settle for 50% of last September's price.
kauaikid
I don't know but someone bought a bunch of shares around 12:50 PM.
BEEStrategic Hotels & Resorts Inc
Jun. 16, 2009 Market Close: $ 1.35
After Hours Trade Reporting
After Hours Charts After Hours
Last: $ 1.35 After Hours
High: $ 1.40
After Hours
Volume: 118,700 After Hours
Low: $ 1.35
After Hours
Time (ET) After Hours
Price After Hours
Share Volume
16:13 $ 1.35 100
16:13 $ 1.35 100
16:12 $ 1.35 100
16:11 $ 1.35 300
16:04 $ 1.35 3,000
16:03 $ 1.40 115,100
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1. Fairmont Chicago | | 10. InterContinental Miami |
2. Fairmont Scottsdale Princess (a) | | 11. JW Marriott Essex House Hotel (e) |
3. Four Seasons Jackson Hole | | 12. Loews Santa Monica Beach Hotel |
4. Four Seasons Punta Mita Resort (b) | | 13. Marriott Hamburg (f) |
5. Four Seasons Silicon Valley | | 14. Marriott Lincolnshire Resort (g) |
6. Four Seasons Washington, D.C. | | 15. Marriott London Grosvenor Square (g) |
7. Hotel del Coronado (c) | | 16. Ritz-Carlton Half Moon Bay |
8. Hyatt Regency La Jolla (d) | | 17. Ritz-Carlton Laguna Niguel |
9. InterContinental Chicago | | 18. Westin St. Francis |
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