hey monkeys,
What are the mainly used ratios (valuation and financial) for Gaming Lodging and Leisure companies?
THanks for your help!
Trending Content
| +153 | How to stop feeling like shit for not making it in IB? | 57 | 8h | |
| +115 | If Tik Tok is forced to sell, what banks do you think would be involved in the deal? | 58 | 5h | |
| +80 | Updated LA Banking Scene (2024) | 59 | 4s | |
| +38 | Ranking banks that went under | 20 | 11h | |
| +34 | Burnt Out M&A ASO | 18 | 10h | |
| +32 | A strategy for SA applicants late to the game like myself | 15 | 17h | |
| +30 | Relevance of A-Levels for U.K. London recruiting | 22 | 13m | |
| +26 | Series 79 Help / Tips to Pass The First Attempt | 11 | 2d | |
| +26 | Intern Ettiquette | 4 | 21h | |
| +23 | What are hours like at BBs in London? | 47 | 20h |
Career Resources
For hotels, one important metric is ADR - average daily rate. Occupancy - % of rooms filled - is also important, but not a financial metric.
Ratios & Metrics (compare absolute numbers, trends over time & trends between companies): - EV/EBITDA - FFO/Share - EPS - EBITDA Margins - Price/FFO - RevPAR (Very important for Lodging) - ADR - Occupancy Rates - Room/unit growth and acquisitions - NAV/share (applicable for some REITs)
Also, factors like "operating leverage", i.e. to what extent costs are fixed, matters a lot in analysing how hotel companies perform when there are changes in revenue/the economy. Not all of the ratios above are applicable if you are looking at buying hotels or hotel portfolios directly and not the companies.
Here's a primer from GS on the Lodging industry from 6 years ago (pre-financial crisis). A lot of the market commentary is not relevant but you should be able to see examples of what ratios are important and what figures from the financial statements matter. Also, it discusses what different types of companies constitute "lodging" and how these companies make money.
http://www.scribd.com/doc/85653602/Goldman-Sachs-US-Lodging-Primer-2Jun…
Also check out the investors relations section on these casino companies (if you manage to get an analyst's analysis of one of these companies even better):
Las Vegas Sands Corp. (LVS.N) MGM Mirage (MGM.N) Wynn Resorts, Limited (WYNN.O)
And for hotel companies (both management and hotel owners):
InterContinental Hotels Group: http://www.ihgplc.com/index.asp?pageid=3 Marriott: http://investor.shareholder.com/mar/default.cfm Host Hotels and Resorts: http://hosthotels.com Strategic Hotels & Resorts: http://www.strategichotels.com
Vitae rerum sint tempore dignissimos rerum quo. Qui at voluptatibus totam quaerat ab. Inventore aut consectetur qui aut ex excepturi.
Fugiat et repellendus qui voluptatem et et ea. Excepturi quos quia enim.
Asperiores explicabo quae id a facere. Eaque necessitatibus sed et minima iusto officiis laudantium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...