Suburban Lodges of America (SLAM) Message Board

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Non-Tech : Suburban Lodges of America (SLAM)

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To: VALUESPEC who wrote (7)	12/18/1997 9:22:00 AM
From: VALUESPEC	Read Replies (2) of 35

This morning I've taken the time to do a more detailed analysis of SLAM. I'm still not an expert in this company (by far), but my initial investigation is still favorable. I plan to hold my position for higher prices. SLAM is currently $ 13.75b and $ 14.00a. I think it is going much higher. The earnings shortfall this quarter caught many investors by surprise. However, the outlook looks good. They are opening 13 of the 26 new hotels in between Nov and Dec. 1997. This is causing a temporary profit fall. However, with these hotels opening, that should quickly change. Occupancy rates are down, but that is not that surprising considering the fact that last years comparisons were hard because of the Olympic games being held in Atlanta where the hotels are located. The company said it expects "the strong annual growth to continue in '98", and I see no reason to doubt them. The balance sheet looks good and preliminary lines of credit are already worked out for future expansion. Any comments from the bears? What am I missing, if anything? VALUESPEC

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