Going to create a general thread here although not expecting much commentary given how tightly this stock is held/low liquidity it is.
I recently bought in due to the strong fundamentals & yield, then ironically like 2 days later the CEO of 17+ years decides to resign, lol.
Have seen recent news commentary about how the Cairns tourism industry (especially international) is set for a big comeback & already seeing signs domestically with internationals still to come, so hopefully translates into even better revenue figures for RCT - article from the Cairns Post a couple of weeks ago here:
https://www.cairnspost.com.au/business/cairns-business/cairns-hotel-occupancy-set-for-full-recovery/news-story/062ff3b1f31bdb0c8bf3b16c1e1e957d
Cairns’ hotel occupancy set for full recovery
March 19, 2023 - 8:00PM
Occupancy rates in Cairns’ hotels are set for a return to pre-Covid levels according to new research, which pinpoints the return of international tourism to the Far North as icing on the cake after strong domestic figures.
The new data from CBRE Research is tipping a return to pre-Covid occupancy rates in Cairns next year.CBRE associate director for hotel research Ally McDade noted the strong domestic market and recovering international arrivals as key to the recovery for Cairns.
“In Cairns, continued strength in domestic demand and recovering international arrivals should see occupancy meet the long-term average by the end of 2024,” Ms McDade said.The lack of further room supply through new developments will also support the recovery of existing hotels, she said.
“The average daily rate is anticipated to moderate but remain positive as a result of continued growth in room night demand.”In the most recent period ending September 2022 Cairns saw 30,000 international visitors and 1.14 million domestic visitors for a total of 5.23 million visitor nights.
By far the largest share of the visitors were coming from within Queensland. With international options still limited by the pandemic, residents of the sunshine state have explored their own backyard more than ever before.
Average length of stay is also up 8 per cent to 4.4 nights.
Tropical North Queensland has been a major beneficiary of the domestic tourism recovery, with both visitor numbers and visitor nights up 27 per cent and 37 per cent respectively on 2019 results.
International arrivals were mostly by visitors from the US (20 per cent), the UK (13 per cent) and New Zealand (11 per cent) with the much awaited return of east Asian visitors yet to materialise, the recovery is looking positive.
The recovery of international visitor market is also tipped to increase investment as hotels look to capitalise on the return.“Looking ahead, there is expected to be increased appetite to refurbish older hotels as inbound visitation continues to improve,” Ms McDade said.
