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What: Shares of luxury travel and tourism specialist Orient-Express Hotels
So what: Adjusted profits more than doubled to $0.19 a share as overall revenue excluding real estate improved 17% to $183.2 million. Revenue from owned hotels improved 16%, while revenue per available room (RevPAR) rose 14% before currency effects. Analysts were looking for $0.13 a share of profit on $183.7 million in non-hotel revenue, according to data compiled by Yahoo! Finance.
Now what: Orient-Express interests me for two reasons. First, because it operates the Orient Express tourist train that travels through a Western European course made famous by Agatha Christie. Second, the stock trades for a barely noticeable premium to tangible book value, which means investors place virtually zero value on Orient-Express' ability to grow. Do you believe that's fair? Would you buy shares of Orient-Express Hotels at current prices? Please weigh in using the comments box below.
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