HPL

Re: Hotel Properties Ltd

Postby winston » Fri Aug 12, 2016 9:45 am

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Hotel Properties Limited: 2Q profits up 8.5% YoY

2Q16 PATMI increased 8.5% YoY to S$13.2m despite revenues for the quarter dipping 20.8% to S$129.7m.

The weaker topline was mainly due to lower contributions from Tomlinson Heights, softer demand seen at the group’s Maldives resorts and on-going refurbishment works at Four Seasons Resorts Maldives at Kuda Huraa.

This was more than offset by lower costs and a stronger profit from associates and JVs in 2Q16 given strong contributions from the d’Leedon development at Farrer Road.

Over the quarter, HPL also invested in an associate which completed the acquisition of two properties in London while another JV acquired The Nam Hai, a five-star beachfront resort in Vietnam.

We judge this set of results to be broadly in line with expectations.

Source: OCBC
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Re: Hotel Properties Ltd

Postby winston » Tue Feb 28, 2017 9:50 am

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Hotel Properties Ltd: FY16 results boosted by disposal gains


Hotel Properties Ltd’s FY16 PATMI increased 27% to S$103.5m mainly due to disposal gains from the sale of two land sites in Bangkok and lower interest costs, partially offset by lower gross margins and weaker share of results of JV/associates (smaller contributions from the Interlace and d’Leedon condominiums).

In terms of the topline, FY16 revenues were almost flat at S$577.6m (versus S$579.5m in FY15), with the slight drop attributed to lower contributions from the group’s hotels and resorts, particularly those in the Maldives which were impacted by softer demand and refurbishment works.

Adjusting for one-time items, we judge this set of results to be broadly within expectations.

Looking ahead, the management team sees a challenging year due to economic and political uncertainties but expects recurring income streams from the group’s hotel and resort assets to buttress earnings.

In addition, the group also reports that its Holland Park Villas and Burlington Gate developments in London are expected to be completed in 2017.

The group has proposed a final dividend of 8.0 S-cents per share.

Source: OCBC
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Re: Hotel Properties Ltd

Postby winston » Wed Aug 16, 2017 10:18 am

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Hotel Properties Limited: 2Q17 profits up 23% YoY

2Q17 PATMI increased 23% YoY to S$16.2m mainly due to sales of completed units from Tomlinson Heights and stronger contributions from the group’s resorts in Maldives after the completion of the upgrade of water villas at the Four Seasons Resorts Maldives at Kuda Huraa, partially offset by lower profits from associates and JV as contributions from the d’Leedon Condominium fell.

In terms of the topline, 2Q17 revenues similarly increased 47% YoY from Tomlinson Heights sales.

We judge this set of results to be broadly in line with expectations.

The group’s two property developments in London, Burlington Gate and Holland Park Villas are on track for completion later this year and are expected to contribute to operating performance in the coming quarters.

Source: OCBC
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Re: Hotel Properties Ltd

Postby behappyalways » Wed Dec 06, 2017 8:04 pm

Hotel Properties reports 32% rise in 3Q earnings to $42.2 mil

By PC Lee

SINGAPORE (Nov 13): Hotel Properties reported 3Q earnings rose 31.5% to $42.2 million from $32.1 million a year ago.

Revenue rose 18% to $165 million from $140 million a year ago mainly due to the sale of completed condominium units from the Tomlinson Heights development as well as higher contribution from the group’s hotels and resorts, particularly those in Bali, Indonesia and the Maldives.

During the quarter under review, the group, through associate and joint venture entities, acquired Four Seasons Resort Langkawi, Double Tree by Hilton Hotel London–Ealing and Hilton London Olympia.


Source: The Edge

https://www.theedgesingapore.com/hotel- ... gs-422-mil
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Re: Hotel Properties Ltd

Postby winston » Fri Dec 29, 2017 4:32 pm

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Re: Hotel Properties Ltd

Postby winston » Wed Feb 28, 2018 9:45 am

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Hotel Properties Limited: Blockbuster set of results

Hotel Properties Limited (HPL) posted a strong set of results.

FY17 revenue increased 14.1% YoY to S$659.2m, while the share of results of associates and jointly controlled entities increased significantly.

The increase in gross profit as well as the contributions from associates and JVs translated into a 52.8% higher core PATMI of S$161.7m.

We believe Singapore is at the early stage of a rebound in the domestic hospitality market and see the pick-up in global economic growth as a boon for luxury hotels and resorts around the world.

We see HPL as a proxy to these growth drivers with its sizeable hotel portfolio.

With a change in covering analyst, our fair value decreases 3% from S$4.83 to S$4.74 as we update our model.

HPL is currently trading at a ~20% discount to our RNAV, which we find undemanding relative to its hospitality peers.

Source: OCBC
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Re: Hotel Properties Ltd

Postby winston » Fri Aug 17, 2018 4:14 pm

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2Q, 2018

Revenue: -27%
Profit After Tax: -71%
520.8m Sharess
NAV: Sin$3.78

The performance of the Group’s resorts in the Maldives and Bali were also affected by adverse
political and environmental conditions respectively.

http://infopub.sgx.com/FileOpen/HPL_2Q% ... eID=521392
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Re: HPL

Postby winston » Mon Oct 15, 2018 9:46 am

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Hotel Properties Limited: A “new” GO candidate?

The impending delisting of Wheelock Properties (Singapore) (“WPS”) as well as the lack of minority shareholders could help smoothen the path towards a West Orchard redevelopment.

With it now being easier for 20 HK to push through any redevelopment plans and 20 HK already owning close to a 22.5% stake in HPL via WPS, we believe 20 HK and related parties may see greater value in conducting another GO for HPL.

68 Holdings and Ong Beng Seng (and spouse) own 80.1% of HPL in aggregate. At a 20% premium to last Friday’s closing price, a GO by 68 Holdings would need around only ~S$227m to privatize HPL (i.e. reach a stake above 90%) or ~S$457m should it be able to acquire all of the remaining free float.

HPL’s last close of S$3.68 is currently at a 26% discount to our RNAV, which does not include any potential upside from an Orchard redevelopment.

In this volatile market environment, we believe investors could benefit from adding counters with high idiosyncratic risk to their portfolios and see HPL as such a counter.

Re-iterate BUY on HPL with a fair value estimate of S$4.74.

Source: OCBC
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Re: HPL

Postby winston » Thu Nov 15, 2018 12:03 pm

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Hotel Properties: 3Q, 2018

Revenue: -20%
Profit After tax: -40%

http://infopub.sgx.com/FileOpen/HPL_3Q% ... eID=533697
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