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TPS East Africa full year 2018
maka
#21 Posted : Friday, April 26, 2019 10:08:06 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,237
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



@VVS nunua mvinyo.... πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜Ž
possunt quia posse videntur
VituVingiSana
#22 Posted : Friday, April 26, 2019 10:15:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
On a serious note, we need a brand that offers quality at reasonable prices. No need for a hotel in Nairobi or upcountry where the weather is usually cool to have a pool, big gym or fancy spa. A nice quiet spot to rest one's head.

So many countries have such facilities. Something the average Kenyan family can enjoy without breaking the bank. Though I have noticed hotels in "Sub-Saharan Africa" outside of SA can be pricey for anything more than basic accommodation.

$300/day in some major Asia cities, outside of Japan, Singapore and Hong Kong, can get you great, great deals.

@Obiero has a point about costly rooms but it is not confined to Serena.

Perhaps, the likes of Serena should consider operating hotels that offer basic no-frills accommodation but use the experience, buying power, training and muscle of Serena. Lower margins but volumes.

Hyatt, Marriot, etc have this model.

@maka - Wacha TPS walipe 1/- dividend kwanza 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
#23 Posted : Friday, April 26, 2019 10:21:46 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,398
Location: nairobi
maka wrote:
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



@VVS nunua mvinyo.... πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜Ž

What’s wrong with you @maka? Don’t you know how old the guy is? Huyu ataharibu soko.. πŸ™ˆ
COOP 5,500 ABP12.6; HF 2,000 ABP 5.90; KCB 7,500 ABP 36; KNRE 100,000 ABP 2.90; KQ 392,100 ABP 8.32
xxxxx
#24 Posted : Saturday, April 27, 2019 9:28:33 AM
Rank: Member


Joined: 3/20/2008
Posts: 476
VituVingiSana wrote:
On a serious note, we need a brand that offers quality at reasonable prices. No need for a hotel in Nairobi or upcountry where the weather is usually cool to have a pool, big gym or fancy spa. A nice quiet spot to rest one's head.

So many countries have such facilities. Something the average Kenyan family can enjoy without breaking the bank. Though I have noticed hotels in "Sub-Saharan Africa" outside of SA can be pricey for anything more than basic accommodation.

$300/day in some major Asia cities, outside of Japan, Singapore and Hong Kong, can get you great, great deals.

@Obiero has a point about costly rooms but it is not confined to Serena.

Perhaps, the likes of Serena should consider operating hotels that offer basic no-frills accommodation but use the experience, buying power, training and muscle of Serena. Lower margins but volumes.

Hyatt, Marriot, etc have this model.

@maka - Wacha TPS walipe 1/- dividend kwanza Laughing out loudly Laughing out loudly Laughing out loudly


@vvs, whatever you've said here is exactly why TPS should not be in your portfolio and more reason why its MOAT is not durable. The inconsistent earnings power also doesn't bode well for investors givens the cashflow consumption tendencies. It better not become your KQShame on you
VituVingiSana
#25 Posted : Sunday, April 28, 2019 12:55:37 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
xxxxx wrote:
VituVingiSana wrote:
On a serious note, we need a brand that offers quality at reasonable prices. No need for a hotel in Nairobi or upcountry where the weather is usually cool to have a pool, big gym or fancy spa. A nice quiet spot to rest one's head.

So many countries have such facilities. Something the average Kenyan family can enjoy without breaking the bank. Though I have noticed hotels in "Sub-Saharan Africa" outside of SA can be pricey for anything more than basic accommodation.

$300/day in some major Asia cities, outside of Japan, Singapore and Hong Kong, can get you great, great deals.

@Obiero has a point about costly rooms but it is not confined to Serena.

Perhaps, the likes of Serena should consider operating hotels that offer basic no-frills accommodation but use the experience, buying power, training and muscle of Serena. Lower margins but volumes.

Hyatt, Marriot, etc have this model.

@maka - Wacha TPS walipe 1/- dividend kwanza Laughing out loudly Laughing out loudly Laughing out loudly


@vvs, whatever you've said here is exactly why TPS should not be in your portfolio and more reason why its MOAT is not durable. The inconsistent earnings power also doesn't bode well for investors givens the cashflow consumption tendencies. It better not become your KQShame on you

I have a few old shares. Bought many years ago. "Tier 3" so less than 5% of my portfolio. It does not mean I should keep them.

I am OK with the "inconsistent" earnings as long as the overall returns are good over the time period. I am not saying TPSEA will make the cut.

Buffett writes that earnings gyrations β€œdon’t bother us in the least.” After all, β€œCharlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.”
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#26 Posted : Sunday, April 28, 2019 11:12:05 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
Perhaps TPS should sell itself to Hilton/Marriot smile Hopefully at a premium!
https://finance.yahoo.co...r_yfsocialtw_l1gbd0noiom
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#27 Posted : Sunday, April 28, 2019 11:32:54 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,385
Location: Enk are Nyirobi
[quote=VituVingiSana]Perhaps TPS should sell itself to Hilton/Marriot smile Hopefully at a premium!
https://finance.yahoo.co..._yfsocialtw_l1gbd0noiom[/quote]

TPS is a very Agha Khan, Ismalian and Eastern Brand. Doubt they will sell off to the west
Life is short. Live passionately.
VituVingiSana
#28 Posted : Monday, April 29, 2019 12:14:49 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
Perhaps TPS should sell itself to Hilton/Marriot smile Hopefully at a premium!
https://finance.yahoo.co..._yfsocialtw_l1gbd0noiom


TPS is a very Agha Khan, Ismalian and Eastern Brand. Doubt they will sell off to the west
You do have a good point but they need not sell cheap. On the other hand, it may be part of their ethos to have businesses that grow the economies they operate in.
Serena for decades has been the #1 luxury hotel brand in EAC.
DTB has been around for ages and growing.
Jubilee is definitely a top 3, if not #1, insurer in EAC.
NMG despite the recent travails, not uncommon for many media houses, has been instrumental in expanding the discourse in EAC.

BUT stop raining on my parade! Shame on you
Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#29 Posted : Monday, April 29, 2019 2:40:08 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,385
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
Perhaps TPS should sell itself to Hilton/Marriot smile Hopefully at a premium!
https://finance.yahoo.co..._yfsocialtw_l1gbd0noiom


TPS is a very Agha Khan, Ismalian and Eastern Brand. Doubt they will sell off to the west
You do have a good point but they need not sell cheap. On the other hand, it may be part of their ethos to have businesses that grow the economies they operate in.
Serena for decades has been the #1 luxury hotel brand in EAC.
DTB has been around for ages and growing.
Jubilee is definitely a top 3, if not #1, insurer in EAC.
NMG despite the recent travails, not uncommon for many media houses, has been instrumental in expanding the discourse in EAC.

BUT stop raining on my parade! Shame on you
Laughing out loudly Laughing out loudly Laughing out loudly


If I had the cash, I would buy out TPS. It is a solid brand, we established in EA.
Life is short. Live passionately.
sparkly
#30 Posted : Friday, June 21, 2019 11:14:18 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,385
Location: Enk are Nyirobi
AGM at KICC on Tuesday 25 June 2019 from 11am.

Dividend ofu 0.35 to be paid around 27 July 2019.

Look at the Financials:

1. Kenya still has the biggest investment contributes, most revenue.
2. EBITDA for Kenya 2017 was negative but turned positive after phase one of Serena Nairobi went live.
3. Delay in completion of phase 2 Nairobi Serena led to default of debt payments to Barclays and Proparco.
4. Took overdrafts of 300m following delay in finishing Nairobi refurbishments.
5. Uganda and Kigali refurbishments were done earlier and smoothened the Kenya revenue hit.
5. Serena Nairobi full capacity coming on board by July 2019 in time for the peak season.
6. Conclusion - TPS managed their refurbishments well. Nairobi Serena coming on board at full capacity will improve overall profitability of the group. Profitability will improve parabolicaly by the time we hold our next general elections.

Sparkly, 2019
Life is short. Live passionately.
VituVingiSana
#31 Posted : Sunday, June 23, 2019 11:20:14 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
sparkly wrote:
AGM at KICC on Tuesday 25 June 2019 from 11am.

Dividend ofu 0.35 to be paid around 27 July 2019.

Look at the Financials:

1. Kenya still has the biggest investment contributes, most revenue.
KE remains the Big Daddy. TZ did well too.
2. EBITDA for Kenya 2017 was negative but turned positive after phase one of Serena Nairobi went live.
And should contribute more in 1H 2019 than it did in FY2018
3. Delay in completion of phase 2 Nairobi Serena led to default of debt payments to Barclays and Proparco.
Not good but both extended the loans. I wonder why they do not borrow from DTB unless these are forex loans at good rates.
4. Took overdrafts of 300m following delay in finishing Nairobi refurbishments.
5. Uganda and Kigali refurbishments were done earlier and smoothened the Kenya revenue hit.
I like the slow but steady approach to CAPEX. Don't go crazy.
5. Serena Nairobi full capacity coming on board by July 2019 in time for the peak season.
6. Conclusion - TPS managed their refurbishments well. Nairobi Serena coming on board at full capacity will improve overall profitability of the group. Profitability will improve parabolicaly by the time we hold our next general elections.

Sparkly, 2019

#TukoPamoja
Again, like you, if I had the 20/- per share and Aga Khan was selling, I would buy the entire firm!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
nairobby
#32 Posted : Monday, June 24, 2019 10:05:21 AM
Rank: Member


Joined: 1/18/2019
Posts: 158
Location: kenya
Does Serena have a loyalty program?
VituVingiSana
#33 Posted : Monday, June 24, 2019 11:16:29 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
nairobby wrote:
Does Serena have a loyalty program?

Yes. You get free nights depending on your points. Also discounts.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
nairobby
#34 Posted : Monday, June 24, 2019 12:03:51 PM
Rank: Member


Joined: 1/18/2019
Posts: 158
Location: kenya
What kind of partnerships do they have with this program? Have they partnered with any airlines and banks? Are their loyalty points transferable?

I think Serena is missing out a lot on this front.
sparkly
#35 Posted : Monday, June 24, 2019 1:15:26 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,385
Location: Enk are Nyirobi
nairobby wrote:
What kind of partnerships do they have with this program? Have they partnered with any airlines and banks? Are their loyalty points transferable?

I think Serena is missing out a lot on this front.


How so?
Life is short. Live passionately.
VituVingiSana
#36 Posted : Monday, June 24, 2019 1:36:19 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,538
Location: Nairobi
nairobby wrote:
What kind of partnerships do they have with this program? Have they partnered with any airlines and banks? Are their loyalty points transferable?

I think Serena is missing out a lot on this front.
Are you a shareholder? If yes, please bring it up at the AGM.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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