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TPS East Africa full year 2018
littledove
#1 Posted : Thursday, April 25, 2019 4:57:51 PM
Rank: Member


Joined: 7/1/2014
Posts: 716
Location: sky
turnover 6.59b
net profit 179m
final dividend 0.35
book closure 25th june 2019
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
sparkly
#2 Posted : Thursday, April 25, 2019 6:15:51 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,133
Location: Enk are Nyirobi
Wapi breakdown?
Life is short. Live passionately.
Pesa Nane
#3 Posted : Thursday, April 25, 2019 11:40:55 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
sparkly wrote:
Wapi breakdown?



Pesa Nane plans to be shilingi when he grows up.
VituVingiSana
#4 Posted : Friday, April 26, 2019 4:09:11 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#5 Posted : Friday, April 26, 2019 5:32:40 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,068
Location: nairobi
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.

I wish you knew how many new and better offerings have arrived in the Kenyan hospitality scene. Serena was a colonial establishment and they appear stuck in time despite the renovations
COOP 5,500; KCB 3,700; KNRE 100,000; KQ 221,100
VituVingiSana
#6 Posted : Friday, April 26, 2019 7:32:59 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.

I wish you knew how many new and better offerings have arrived in the Kenyan hospitality scene. Serena was a colonial establishment and they appear stuck in time despite the renovations
I understand you are not knowledgable in the history of most, if not all, of the listed firms in Kenya. Perhaps you should stick to KQ but even then you keep missing the mark.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
xxxxx
#7 Posted : Friday, April 26, 2019 8:12:29 AM
Rank: Member


Joined: 3/20/2008
Posts: 465
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.


As the sage has said, "when a management with a reputation for brilliance tackles a business with a reputation for bad economics, it's the reputation of the business that remains intact". Tread carefully bro. A combination of debt and bad business economics is ultimately very destructive to shareholder wealth. Personally, I'm staying away from debt infested entities courtesy of armcement lessons.Shame on you
VituVingiSana
#8 Posted : Friday, April 26, 2019 8:43:43 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
xxxxx wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.


As the sage has said, "when a management with a reputation for brilliance tackles a business with a reputation for bad economics, it's the reputation of the business that remains intact". Tread carefully bro. A combination of debt and bad business economics is ultimately very destructive to shareholder wealth. Personally, I'm staying away from debt infested entities courtesy of armcement lessons.Shame on you
The economics seem fine but I will wait until I get a chance to look at the Annual Report before I consider whether to buy more.
2018 had reduced capacity for both rooms and meeting space. Once the renovation is over (June 2019) revenue may increase if things remain steady politically and economically.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#9 Posted : Friday, April 26, 2019 9:00:02 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,075
Location: NAIROBI
VituVingiSana wrote:
xxxxx wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.


As the sage has said, "when a management with a reputation for brilliance tackles a business with a reputation for bad economics, it's the reputation of the business that remains intact". Tread carefully bro. A combination of debt and bad business economics is ultimately very destructive to shareholder wealth. Personally, I'm staying away from debt infested entities courtesy of armcement lessons.Shame on you
The economics seem fine but I will wait until I get a chance to look at the Annual Report before I consider whether to buy more.
2018 had reduced capacity for both rooms and meeting space. Once the renovation is over (June 2019) revenue may increase if things remain steady politically and economically.


TPS woes are as a result of the poor performance of the economy
nairobby
#10 Posted : Friday, April 26, 2019 10:21:55 AM
Rank: Member


Joined: 1/18/2019
Posts: 123
Location: kenya
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake
VituVingiSana
#11 Posted : Friday, April 26, 2019 10:32:43 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
xxxxx
#12 Posted : Friday, April 26, 2019 11:05:13 AM
Rank: Member


Joined: 3/20/2008
Posts: 465
VituVingiSana wrote:
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.


ndugu @vvs, what exactly do you consider to be tpsea's MOAT?
VituVingiSana
#13 Posted : Friday, April 26, 2019 11:22:08 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
xxxxx wrote:
VituVingiSana wrote:
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.


ndugu @vvs, what exactly do you consider to be tpsea's MOAT?
Luxury Branding within EAC with a circuit.
No-one has as many lodges/hotels as Serena in the region.
All that said, I want value too. I am not buying it today. I want to see their level and structure of Debt in the Annual Report.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
nairobby
#14 Posted : Friday, April 26, 2019 2:32:39 PM
Rank: Member


Joined: 1/18/2019
Posts: 123
Location: kenya
VituVingiSana wrote:
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.


I agree with you on setting up another 3 star brand to tap into MICE.
Could loyalty programs tied to credit cards also work? Like SPG/ Marriott in the states. Especially for corporates and business travellers given they have a nice network in EA.
Aguytrying
#15 Posted : Friday, April 26, 2019 5:03:24 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,023
xxxxx wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.


As the sage has said, "when a management with a reputation for brilliance tackles a business with a reputation for bad economics, it's the reputation of the business that remains intact". Tread carefully bro. A combination of debt and bad business economics is ultimately very destructive to shareholder wealth. Personally, I'm staying away from debt infested entities courtesy of armcement lessons.Shame on you


This is something I have heavily thought about this company. Will evaluate my options in the next 2 years. The company has really struggled since the ebola days. But it's still kicking
The investor's chief problem - and even his worst enemy - is likely to be himself
Ericsson
#16 Posted : Friday, April 26, 2019 5:08:28 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,075
Location: NAIROBI
VituVingiSana wrote:
xxxxx wrote:
VituVingiSana wrote:
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.


ndugu @vvs, what exactly do you consider to be tpsea's MOAT?
Luxury Branding within EAC with a circuit.
No-one has as many lodges/hotels as Serena in the region.Heritage Hotels owned by the President Kenyatta family after they purchased Alliance Group of Hotels from Late Matiba family
All that said, I want value too. I am not buying it today. I want to see their level and structure of Debt in the Annual Report.

VituVingiSana
#17 Posted : Friday, April 26, 2019 7:13:32 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
xxxxx wrote:
VituVingiSana wrote:
nairobby wrote:
I think results are ok given Nairobi Serena is at 46% capacity but they do need to capitalise more on MICE. I would expect their years of experience to aid in this because the new entrants are really eating their cake

Hard to do MICE when there is limited capacity of rooms and conference space. I want to see the detailed information but 2019 should be better given the Nairobi renovations will be complete in 3 months.
I was at Serena Nairobi and the new layout is more "open" and spacious but I need to check out their new rooms. There is a lot more competition.


ndugu @vvs, what exactly do you consider to be tpsea's MOAT?
Luxury Branding within EAC with a circuit.
No-one has as many lodges/hotels as Serena in the region.Heritage Hotels owned by the President Kenyatta family after they purchased Alliance Group of Hotels from Late Matiba family
All that said, I want value too. I am not buying it today. I want to see their level and structure of Debt in the Annual Report.


How many does HH have in the region (EAC)?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#18 Posted : Friday, April 26, 2019 7:14:16 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,068
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.

I wish you knew how many new and better offerings have arrived in the Kenyan hospitality scene. Serena was a colonial establishment and they appear stuck in time despite the renovations
I understand you are not knowledgable in the history of most, if not all, of the listed firms in Kenya. Perhaps you should stick to KQ but even then you keep missing the mark.

Lol.. Touched a nerve? 😁
COOP 5,500; KCB 3,700; KNRE 100,000; KQ 221,100
VituVingiSana
#19 Posted : Friday, April 26, 2019 7:33:43 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,187
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.

I wish you knew how many new and better offerings have arrived in the Kenyan hospitality scene. Serena was a colonial establishment and they appear stuck in time despite the renovations
I understand you are not knowledgable in the history of most, if not all, of the listed firms in Kenya. Perhaps you should stick to KQ but even then you keep missing the mark.

Lol.. Touched a nerve? 😁
You don't bother me at all. I actually felt sorry for you at one point but you love the pain! Laughing out loudly

You said "Serena was a colonial establishment" but If I am not mistaken, Serena was established post-1963. You play loose with facts. I am no mood to buy you a drink but I was impressed with the refurbishment. Of course, there is more competition.

BTW, one share of TPS will pay a dividend that exceeds the entire profit KQ has made since 2012 Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#20 Posted : Friday, April 26, 2019 7:58:33 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,068
Location: nairobi
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
VituVingiSana wrote:
The results are not as strong as I would have liked but the improvements to Serena Nairobi are not complete. I expect better results for 2019 as more of Serena Nairobi becomes "usable" but the interest and depreciation on the improvements, will hit the results from 2019 onwards.

I will keep what I have but I need to wait and see. TPSEA needs to look at other locations within Nairobi and Mombasa/Coast to cater to different tastes.

Nairobi - Upper Hill, Karen, Westlands
Coast - CBD, Diani/Tiwi
Kisumu

A 3-star brand that offers business-friendly rates. It can use Serena's expertise. Or offer packages for MICE that allows the use of Serena's 5-star conference facilities with some staying at the 3-star residences.

I wish you knew how many new and better offerings have arrived in the Kenyan hospitality scene. Serena was a colonial establishment and they appear stuck in time despite the renovations
I understand you are not knowledgable in the history of most, if not all, of the listed firms in Kenya. Perhaps you should stick to KQ but even then you keep missing the mark.

Lol.. Touched a nerve? 😁
You don't bother me at all. I actually felt sorry for you at one point but you love the pain! Laughing out loudly

You said "Serena was a colonial establishment" but If I am not mistaken, Serena was established post-1963. You play loose with facts. I am no mood to buy you a drink but I was impressed with the refurbishment. Of course, there is more competition.

BTW, one share of TPS will pay a dividend that exceeds the entire profit KQ has made since 2012 Laughing out loudly Laughing out loudly Laughing out loudly

Used by the former colonial masters and home guards, not that its owned by them.. Even their current pricing is prohibitive at USD 302 per night for a standard room! I do know AKDN holds majority stake
COOP 5,500; KCB 3,700; KNRE 100,000; KQ 221,100
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