In some cases, private valuations have surpassed public valuations in the hotel business. I'm surprised this didn't happen sooner.
More Quotes from Smedes Rose:
In our view, shares could face near-term pressure as the company works through high start-up costs associated with Red Rock, increases in promotional spending, and competitive responses.Smedes Rose
Strategically this deal makes sense. Hilton not only integrates the international component of the Hilton brand, but allows for development of non-Hilton brands outside of the United States.
Smedes Rose
There is already a lot of evidence of demand for mid-level hotel services in places like India and China. A Hampton Inn by Hilton might resonate with the Chinese consumer as quality without being particularly expensive.
Smedes Rose
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