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. |
In some cases, private valuations have surpassed public valuations in the hotel business. I'm surprised this didn't happen sooner. |
It was a really good quarter. It seemed to be driven by better results out of New Orleans .... and the Caesar's integration into Total Rewards appears to be capturing a lot of customers. |
Offers will probably get toward $50 (per share), but probably not much above that. We still haven't heard from Colony or Columbia Sussex. |
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. |
The Caesar's integration into Total Rewards appears to be capturing a lot of customers. |
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. |
There's a lot of musical chairs going on. |