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PR Newswire
09-06-2011, 11:05 AM
Do the accountants - both internal and external - who prepare the quarterly financial statements know how to invest in and build a hotel and property business for long-term success and wealth accumulation for its shareholders. The answer has to be "No". You need someone who has some special talents and experiences - and certainly more than accounting knowledge - to achieve that.
There is already ample evidence of that in Hotel Royal. From a humble beginning of only 1 hotel along Newton Road, the company now owns 4 hotels and quite a bit of investment/other properties - mostly bought are great prices, and all now are worth substantially more - plus a portfolio of listed securities.
To be able to appreciate the real wealth accumulation process in the business, we should not just pay too much attention to the yearly P&L numbers or ROE.
There is already ample evidence of that in Hotel Royal. From a humble beginning of only 1 hotel along Newton Road, the company now owns 4 hotels and quite a bit of investment/other properties - mostly bought are great prices, and all now are worth substantially more - plus a portfolio of listed securities.
To be able to appreciate the real wealth accumulation process in the business, we should not just pay too much attention to the yearly P&L numbers or ROE.