- Portsmouth Square remains small, overlooked, and cheap.
- Another hotel in San Francisco sold this spring, supporting a minimum $250mm valuation for the company's Hilton hotel.
- San Francisco's tourism and business travel industries are slowly recovering; hotel occupancy rates for fiscal Q3 were above 70%.
- Portsmouth Square hasn't returned to profitability but cash burn has been cut in half.
- The company is trading far too cheaply given the value of its assets and its historical operating performance.
For further details see:
Portsmouth Square: Small, Overlooked, And Cheap