IF INVESTORS were looking for the next big shake-up in hotel counters, the name of Associated International Hotels (AIH) would figure high on the list.
The lowest profile company in the sector, AIH is one of the cheapest pure hotel plays available.
Perhaps, the simplest stock on the board to understand, it is essentially a one asset company which is undervalued.
Its Hyatt Regency Hotel on the prime tourist strip of Nathan Road remains one of the best located hotels in Tsim Sha Tsui.
Although the short term outlook for hotels is at best mixed, with Japanese and European arrivals stagnant, the medium term is looking rosy.
Hotels are hot property. If they are not being taken over, they are being knocked down, but what they definitely are not doing is being built.