They had decent occupancy rates even during COVID. Some of their motels were actually used as quarantine motels. They are expanding their portfolio and will for instance be opening a new motel in Sydney soon. Obviously the uncertainty associated with new COVID strains and the potential for hard border closures and shutting down international arrivals will likely have a negative impact on the SP for the foreseeable future, but there is lots of potential here. What makes you think that the cost of letting rights is higher than the returns on those properties?
They had decent occupancy rates even during COVID. Some of their...
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