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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grantcw who wrote (31104)	6/2/2008 3:35:34 PM
From: Paul Senior	Respond to of 78715

cwillyg, I'm considering the same for FCH,LHO, and couple others the same reasoning. Haven't decided what I will do.

To: Grantcw who wrote (31104)	6/2/2008 10:28:14 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78715

Hotel Reit's _ i don't own any right now. I suspected a while ago that in between the week economy and the higher fuel prices travel may come under pressure. My income play are pipeline MLP's right now.the regulated pipes have build in inflation protection (pricing adjustment is) and b CPI+1.4%) and many unregulated ones benefit from strong NG pricing. This plays in my theme to invest in companies with pricing power which i think becomes increasingly important in an more inflationary environment that I suspect will last for a couple of years. I do not think that hotel REIT's fit that bill near term.

To: Grantcw who wrote (31104)	6/5/2008 10:11:55 AM
From: Paul Senior	Respond to of 78715

cwillyg. Yes, these hotel reits make me nervous too. On the one hand, good dividend yields, stocks at very low levels, some hotels are unique and/or not easily replaced or duplicated. OTOH, revpar, other aspects are lagging indicators into a recession. And last time in the down cycle, these stocks cut/eliminated dividends and stocks ended up much lower. "I still have AHT, but I took small profits in FCH, LHO, and SHO." I'll begin to follow you. I still have AHT also, with no shares sold. I've closed LHO now (LHO discussed here for many years and I've held a few shares that long too), BEE (great hotels), and trimmed back FCH substantially. (I've no SHO position. Holding WYN from the Cendant spin off. Also Accor (ACRFF.pk))