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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (35052)	8/8/2009 7:30:59 PM
From: Arthur Radley	Read Replies (2) of 78751

Spek, Concerning SPPR, I guess you and me have different ways looking at a company. (:>) I respectfully disagree on this company, because IMO they are a disaster in the making. First item is their contention that their ADR was below the industry average, when in reality they operate low revenue generating motels and for them to even give up 3.5% on daily rentals rates is going to impact them because of fixed expenses. Also, they fully admit they have a huge debt payment coming up next month(Wells Fargo) and it appears they are being forced into selling properties to meet this obligation. If they can't unload the motels that they already have on the market....where are they going to get the money to pay off Wells Fargo. The summer travel season is over.......who would want to buy a motel now...unless they can get a huge discount???? My point is simple.......SPPR is selling off motels to meet debt obligations....that ain't a good sign. (IMO)

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