Wednesday, December 22, 2010


HPL: 50% owned subsi Leisure Ventures (LV) with a JV has acq a hotel with 99 rooms in Prague, Czech Republic. Consideration is nominal with assumption of bank debt but LV and partner will inject EUR10m into the JV. Financing will be through internal funds from LV…

This is expected to decrease HPL's earnings by 1.097 cents and net tangible assets per share by $0.011 based on yr ended 31 Dec 09. HPL in 3Q2010 had 9mths EPS of 4.7c, annualized EPS of 6.3c and NAV of $2.45.

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