Ann: Half Year Results Presentation, page-4

Another perceived negative is continuing (and likely multiple further) RBA cash rate rises that mean interest rates will increase significantly, depressing consumer spending even for the affluent at places like Thredbo and trendy city bars that EVT operates at its QV Hotels.

If economic growth lowers, there may be decreased spending by businesses on overnight stays in city hotels.

Yesterday's business-unfriendly Victorian State Budget with rises in land tax (for a decade!) shows how Labor governments refuse to significantly lower spending, but take the easy way out with tax rises that hit companies such as EVT. On top of that, there's a rise in payroll tax.

I agree EVT is a soundly run company but it can't escape economic conditions and governments that don't understand how to grow economies.

Since you posted, there's been another 10 per cent decline in the SP.