Quote Originally Posted by Rawz View Post
Hey LEK, great post!

Do you know how that fair market value is calculated? Do they use a cap rate similar to what the reits get? Or is it just pie in the sky stuff?
From the 2020 annual report (when hotel assets were still recorded as fair value):

Land and buildings are shown at fair value less subsequent depreciation for buildings. Fair value is determined by management using valuation models, and confirmed by independent registered valuers on a staged triennial basis. In the intervals between each triennial cycle an internal valuation and impairment assessment is performed for each hotel asset to ensure its carrying value continues to reflect its fair value.