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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka’s luxury city hotel rebrands itself as “The Kingsbury”

Sri Lanka’s luxury city hotel rebrands itself as “The Kingsbury”

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Sri Lanka’s star rated Ceylon Continental Hotel has been re-branded as “The Kingsbury”.

The hotel, situated in the center of the Colombo capital and operates as a luxury city hotel is owned by the Hotel Services (Ceylon) PLC.

It is currently undergoing a major refurbishment program to upgrade the facility to suit the modern standards, with an investment of Rs. 1.8 billion.

The listed Hotel Services (Ceylon) PLC is an arm of the Hayleys group, a diversified conglomerate.

Meanwhile, Hotel Services also has brought in a new CEO to take charge of the company, with effect from 4th December 2012.

The new CEO, Otto Stohl is a 33 year industry veteran, having worked for luxury five star hotels such as Ritz-Carlton, Renaissance, Marriot International and Hilton as the General Manager.
http://www.news360.lk/tourism/news-sri-lanka%E2%80%99s-05-12-2012-luxury-city-hotel-rebrands-itself-as-%E2%80%9Cthe-kingsbury%E2%80%9D-8890761

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks for the news redbull.
About 60% of my investment PF contains SERV shares.
Their NAV should go up once do the revaluation. All new projects around this hotel should give additional benifits to this hotel in years to come.
I have not seen many topics regarding this counter in the forum yet.

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Fire at Kingsbury Hotel
http://www.dailymirror.lk/news/25077-fire-at-kingsbury-hotel.html

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Monster wrote:Fire at Kingsbury Hotel
http://www.dailymirror.lk/news/25077-fire-at-kingsbury-hotel.html

Thanks for the info monster.

I straightaway called the hotel.. as the receptionist told there's no harm at the hotel premises.
Pheww...!!! Cool




Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Yes, happy that no harm is done. If there was fire I would not want to hold large quantities.

( though we talked about it , I have not got into this share yet)


@UKboy wrote:
@Monster wrote:Fire at Kingsbury Hotel
http://www.dailymirror.lk/news/25077-fire-at-kingsbury-hotel.html

Thanks for the info monster.

I straightaway called the hotel.. as the receptionist told there's no harm at the hotel premises.
Pheww.. What a release..!!! Cool


Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I worried when I heard the news in daily mirror. But finally happy to know that, there is no damage to the hotel. I have invested in this hotel, which was refurbished and resumed it's operation recently.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Some temporary huts used as construction worker quarters got burnt. Nothing happened to any hotel.


@UkBoy wrote:I have not seen many topics regarding this counter in the forum yet.

Yes. Not only SERV and CSD I think ETWO may also get into a new value with the development of this area.

My position : Hold

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
We can expect better performances in quarter 4. However I’m still expecting another loss in Q4. However it should be less than the Q3 losses.

This count may not be suitable for someone who’s looking to book profits quickly (Unless you are a highly skilful).

Share price should rise alone with the projects around this area. But still it’s a bit early. Planning to buy if it drops below 13. I cannot see they will go for a right issue anytime soon (This year).

http://www.cse.lk/cmt/upload_report_file/543_1360055271652.pdf

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Are you still holding your original for long term or did you dispose around Rs 17?


One reason I did not enter this after our discussion was due to lack of funds + the dec quarter loss issue. Like you said I think 4th quarter should show big improvement but their finance costs are a worry.

Long term I think this is one of the cheapest/attractive star class city hotels trading at CSE.






@UKboy wrote:We can expect better performances in quarter 4. However I’m still expecting another loss in Q4. However it should be less than the Q3 losses.

This count may not be suitable for someone who’s looking to book profits quickly (Unless you are a highly skilful).

Share price should rise alone with the projects around this area. But still it’s a bit early. Planning to buy if it drops below 13. I cannot see they will go for a right issue anytime soon (This year).

http://www.cse.lk/cmt/upload_report_file/543_1360055271652.pdf

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hi slstock,
Nope. I did not sell much. It’s about 20% out of my stake.
Agree. Lack of funds is an issue and more importantly the pay back terms of their loan is still unclear. Looking forward to see the next annual report.

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@UKboy wrote:Hi slstock,
Nope. I did not sell much. It’s about 20% out of my stake.
Agree. Lack of funds is an issue and more importantly the pay back terms of their loan is still unclear. Looking forward to see the next annual report.

Am also looking forward the annual report to get more idea or detail break up of their financing terms before making big investment decisions on this share

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@UKboy wrote:We can expect better performances in quarter 4. However I’m still expecting another loss in Q4. However it should be less than the Q3 losses.

This count may not be suitable for someone who’s looking to book profits quickly (Unless you are a highly skilful).

Share price should rise alone with the projects around this area. But still it’s a bit early. Planning to buy if it drops below 13. I cannot see they will go for a right issue anytime soon (This year).

http://www.cse.lk/cmt/upload_report_file/543_1360055271652.pdf

It's better to monitor the price again. SERV is slowly coming back to the attractive prices again.(more suitable for investors).

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Yes true. I wonder why people go behind hotel shares like CITK where there is still an empty land while there is a hotel like this which is almost done with refurbishing.

balapas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@UKboy wrote:
@UKboy wrote:We can expect better performances in quarter 4. However I’m still expecting another loss in Q4. However it should be less than the Q3 losses.

This count may not be suitable for someone who’s looking to book profits quickly (Unless you are a highly skilful).

Share price should rise alone with the projects around this area. But still it’s a bit early. Planning to buy if it drops below 13. I cannot see they will go for a right issue anytime soon (This year).

http://www.cse.lk/cmt/upload_report_file/543_1360055271652.pdf

It's better to monitor the price again. SERV is slowly coming back to the attractive prices again.(more suitable for investors).

SERV has gone up 30% from Mid March.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Good results from Kingsbury. Whoever bought this soon after the right issue must be sitting on a 30-40% profits.

http://www.cse.lk/cmt/upload_report_file/543_1383557624.pdf

We can consider SERV as the 4th largest city hotel in terms of revenue. Hope they can outplace Cinnamon lake as the top 3 hotel in the city soon.
This is the most modern hotel out of top 4.

Heavyweight Hilton will be closed after the CHOGM. SERV will clearly have a positive impact from that.

Looks like they have secured the $10 million loan from German institute. It was mentioned on AR. This should be on a lower inter interest rate. However the rate is still unclear.

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