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Global Premium Hotels - GPH - (SGX Code: P9J)
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SuperMonkey
Senior |
02-May-2014 23:36
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For GP Hotels, earning is secondary. Is the FREEHOLD land the hotels are sitting on that are the main " dish" :) |
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orangekun
Member |
02-May-2014 23:31
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They should give some promotion... hourly rates at a cheaper price... |
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sanuks
Veteran |
02-May-2014 22:38
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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OCBC puts a HOLD on Global Premium Hotels Global Premium Hotels: 1Q14 in line with expectations Total revenue fell 5.4% YoY to S$13.8m and gross profit dipped 3.7% to S$12.1m. Net profit also fell 8.7% to S$4.0m. 1Q14 net profit constitutes 17.5% of our full-year estimate, which are in-line with expectations as we anticipate a back-loaded year from the second Parc Sovereign hotel&rsquo s contributions in 2H14. Due to competitive conditions in the hospitality sector, we continue to see pressure on the group&rsquo s occupancy and room rates average occupancy rate (AOR) decreased from 89.6% in 1Q13 to 86.0% in 1Q14 and revenue per available room (RevPar) also decreased from S$91.4 in 1Q13 to S$91.0 in 1Q14. Our fair value estimate is unchanged at S$0.33. Given that the current share price is at our fair value, we downgrade our rating to a HOLD on valuation grounds. (Eli Lee) |
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sanuks
Veteran |
02-May-2014 22:36
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Global Premium Hotels Limited Sees 9% Drop in Quarterly ProfitsBy Sudhan P - May 2, 2014 | See also: P9JOwner of Fragrance brand chain of hotels, Global Premium Hotels Limited (SGX: P9J) posted its first quarter results on Wednesday. It is one of Singapore&rsquo s largest chains of hotels with 22 hotels, of which 21 hotels are operated under the &ldquo Fragrance&rdquo brand and one hotel under the &ldquo Parc Sovereign&rdquo brand. The company derives revenue from two sources &ndash provision of hotel rooms and rental of commercial units within the hotels. Hotel room revenue for the quarter decreased 5.2% year-on-year to S$13.6 million. This was mainly due to lower contribution from Fragrance Hotel &ndash Pearl due to temporary closure to carry out asset enhancement initiatives lower revenue recognised from the remaining hotels and closure of Fragrance Hotel &ndash Elegance in the fourth quarter of last year due to cessation of tenancy agreement. Revenue from rental income declined 12.0% to S$221,000. This was because of lower recognition of rental income mainly from three commercial units. In all, total revenue dipped 5.4% to S$13.8 million while net profit slumped 8.7% to S$4 million. The average occupancy rate (AOR) decreased from to 86.0% in the latest quarter from 89.6% in the previous year while Revenue Per Available Room (RevPAR) decreased from $91.40 to $91. RevPAR is a performance metric used in the hotel industry. As of 31st March this year, the hotel operator had a total debt of S$482 million and a cash balance of S$16.5 million. This is an improvement as compared to three months ago, where it had S$11.6 million in cash. Total debt then was the same. Another plus point for the quarter was that free cash flow came up to S$5.5 million, while that last year was at S$4.4 million. The firm feels that there may be limited upside opportunity to RevPAR due to the uncertain economic climate and ample new supply of rooms that will come onboard to the industry. The shares last changed hands at S$0.33, valuing the company at 18 times its historical earnings. |
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sanuks
Veteran |
02-May-2014 22:34
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Aiyooooo!!!!Global Premium Hotels suffers 8.7% profits dropOn back of lower revenue. According to OCBC Investment Research, Global Premium Hotels' total revenue fell 5.4% YoY to S$13.8m and gross profit dipped 3.7% to S$12.1m. Net profit also fell 8.7% to S$4.0m. Here' s more: 1Q14 net profit constitutes 17.5% of our full-year estimate, which are in-line with expectations as we anticipate a back-loaded year from the second Parc Sovereign hotel‟ s contributions in 2H14. Due to competitive conditions in the hospitality sector, we continue to see pressure on the group‟ s occupancy and room rates average occupancy rate (AOR) decreased from 89.6% in 1Q13 to 86.0% in 1Q14 and revenue per available room (RevPar) also decreased from S$91.4 in 1Q13 to S$91.0 in 1Q14. |
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orangekun
Member |
02-May-2014 11:29
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I only know that their new hotel will be opening soon which is a mid tier hotel. There' s like 200+ rooms which most likely will improve revenue and earnings, however, there might be additional costs incurred during this phase due to a new establishment. So in the next few quarters, we could be looking at slight decline in profit margins, but gradually it will pick up, given the company' s experience in managing hotels. The hotel is situated at Tyrwhitt road, near Jalan Besar Stadium. There are competiors consisting of couple of small hotels, V hotel, backpackers inn and alot of love hotels. The nearest hotels which i think are considered very good are Zhong Shan Park - owned by Hiap Hoe and V hotel ( beside lavender MRT) Price action will ultimately depend on this hotel' s earnings. Other than that, i heard no other projects on hand. |
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HVRRVH
Elite |
02-May-2014 11:17
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Thks. I want both so I think I know what to do now.
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jomini
Veteran |
02-May-2014 11:14
Yells: "slow down, think, question" |
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i dunno. if u just want gp shares why not just buy it directly? might be more impt to ask if u want fragrance shares at this price
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jomini
Veteran |
02-May-2014 11:10
Yells: "slow down, think, question" |
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Thanks
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HVRRVH
Elite |
02-May-2014 11:06
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Just need some view, I will do my own diligence.
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HVRRVH
Elite |
02-May-2014 11:04
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Nobody has any view? Fragrance CE soon, I cannot wait...
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HVRRVH
Elite |
30-Apr-2014 22:46
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Fragrance is the holding company of GP Hotel. Put it simply, Mr Koh Wee Meng had decided to split the two. He is the founder of Fragrance and now he is buying more GP Hotel shares. To have nothing to do with GP Hotel, Fragrance will give away almost all of its GP Hotel shares by way of dividend in specie at 0.08 GP share for every 1 Fragrance share. In other words, if you own 100 000 Fragrance share, you will get 8000 GP shares. However, Mr Koh will still remain controlling shareholder of the 2 companies after the distribution of dividend in specie even though on paper, the 2 companies have nothing to do with each other anymore. So I am thinking of buying more Fragrance shares to have free GP Hotel share and would like to know how others think? What should be the consideration? Because if everything remain status quote after CA, CE, CD, it is a good deal, isn' t it?
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sanuks
Veteran |
30-Apr-2014 22:40
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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This counter has thin volumn. Guess, those who wants to liquidate, liquidated. Under such circumstances, price fluctuation can be dramatic down the road. What do you say? |
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sanuks
Veteran |
30-Apr-2014 22:34
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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what do you mean by this?
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sanuks
Veteran |
30-Apr-2014 22:33
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Jomini, read this Privatisation revitalising property countersDepressed valuations give owners chance to make takeover bidsThe Straits Times - April 26, 2014
By: GRACE LEONG  LONG-NEGLECTED property counters are getting a new lease of life thanks to the wave of privatisations. United Industrial Corporation (UIC) started the ball rolling on Feb 24 with its offer to take Singapore Land private. Then came CapitaLand' s offer on April 14 to buy out all of CapitaMalls Asia (CMA). The next day, a private consortium headed by Hotel Properties (HPL) controlling shareholder Ong Beng Seng offered to take over HPL, a move that could lead to it being delisted. This bout of takeover action comes as owners see opportunities amid depressed valuations. The hunt for the next big privatisation play has driven the local market higher, lifting property counters including Wheelock Properties, GuocoLand, GuocoLeisure, Ho Bee Land, Hiap Hoe, Bukit Sembawang, Sim Lian and Wing Tai - all touted by analysts as likely plays for privatisation. Shares in Wheelock Properties, which is itself involved in the proposed takeover of HPL, have jumped nearly 22 per cent since Feb 25. Wheelock remains a prime candidate, given its attractive valuation, Mr Vikrant Pandey of UOB Kay Hian said. " Wheelock Properties is trading at 40 per cent discount to its revalued net asset value (RNAV)," he said. This involves revaluing the assets on the developers' books to their current market value. Mr Donald Chua of CIMB Equity Research cited its strong balance sheet, low trading liquidity and the fact that it is 75.8 per cent owned by a major shareholder, Wheelock & Co. " Ho Bee (Land) is a top pick within the small mid-cap developer space and its book is undervalued, in our opinion," Mr Chua said. " On top of that, we noticed that Ho Bee Holdings has been increasing its stake from 70.8 per cent in April 2013 to 72.6 per cent." UOB Kay Hian disagrees: " While we see Ho Bee as a relatively less likely privatisation candidate as management has continually reiterated plans to keep its listing, investors tend to view it as a candidate due to a 70 per cent family stake and deep discount to RNAV (currently 38 per cent discount)." Bukit Sembawang also fits the criteria, with cheap valuation, low liquidity and limited need for equity fund raising, Mr Chua said. But privatisation may not be on the cards in the near term as its largest shareholder owns only 41 per cent of the company and does not face push factors such as extension charges. Under the Residential Property Act, a developer issued with a Qualifying Certificate (QC) has up to five years to complete construction of the project, and has to sell all the units within two years of obtaining the Temporary Occupation Permit (TOP). Failure to meet these rules means a developer will have to pay an extension premium, which could be very costly. Avoiding such a charge can be a catalyst for privatisation, Mr Chua said. " We expect the impact of the extension premium to be muted in 2014-15, but after 2016, Wing Tai, Wheelock and GuocoLand appear to be most affected (assuming worst-case scenario of units remaining unsold and projects not granted extensions)," he said. The impact of extension charges on earnings is greater for small-mid caps such as Wing Tai so the push to privatise and avoid these charges is greater, Mr Chua added. Wing Tai has a healthy balance sheet and is trading at a historically low price to book value of 0.5 times, CIMB said. Price to book value is a ratio used to compare a stock' s market value to its book value, or a measure of shareholders' equity in the balance sheet.
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sanuks
Veteran |
30-Apr-2014 22:31
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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What do you mean by not at this price?
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jomini
Veteran |
28-Apr-2014 21:03
Yells: "slow down, think, question" |
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not at this price. there are some value holders staying below the radar by deliberately holding less than the top 20 holders. value guys are quite predictable
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HVRRVH
Elite |
28-Apr-2014 20:35
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price holdig well after the offer was closed on 24.4.14. on the other hand, fragrance dropped from high of 265 to 240.. thinking of buying more fragrance to have the free GP Hotel shares, any view? |
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brchkho1
Master |
28-Apr-2014 20:33
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It' s stated in the offer document that not taking it off the SGX.
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sanuks
Veteran |
28-Apr-2014 20:19
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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You are quite confident, this counter will not get privatise?
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