Hotels & Malls Maneuver for Tenants
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 10 August 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
Marriott posts its first quarterly loss in nearly nine years. Simon Property Group is talking with Amazon about taking over vacant mall space. Bill Barker analyzes those stories and explains how the scramble to fill empty space is forcing companies to get creative. Plus we discuss the recent rise and fall of Eastman Kodak’s stock and the latest quarterly results from Berkshire-Hathaway.
Transcript
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| 0:00.0 | It's Monday, August 10th. |
| 0:04.0 | Welcome to Market Foolry. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:08.0 | The one and only Bill Barker. |
| 0:09.0 | Good to see you. |
| 0:10.0 | Good to be here. |
| 0:12.0 | It is good to be here. It is good to be here. Yeah, it's nice to be here. It is good to have you back. Yeah, it's nice to be back. I had a little time off last week, but it's nice to be back. We got real estate, we're going to talk about. We're going to talk retail. We've got investigations into financial shenanigans and we have the latest earnings from a little Midwest conglomerate by the name of Berkshire Hathaway, but we're going to start with Marriott because Marriott's second quarter featured |
| 0:35.3 | the first loss for the company in almost nine years, and yet shares a Marriott up about 2% this morning. Is this optimism or is this... |
| 0:47.0 | The stock's already been beaten down enough and we don't need a lot of optimism to bit it up just a bit. |
| 0:55.0 | I think it's the latter. |
| 0:56.3 | I think it has been plenty beaten down, let's call it 40% for the year, |
| 1:01.2 | something like that and the maybe the worst is is behind it. |
| 1:08.0 | Hotel occupancy was off 90% in April and only 70% in July. |
| 1:15.8 | So that is in one sense a big improvement. |
| 1:21.0 | And in another sense shows just how far things still have to go, particularly in this country. |
| 1:27.0 | It's got international operations, the largest operator of hotels and hotel rooms in the world and China is a bright spot |
| 1:37.3 | but the US is not and can continue to be lagging is the expectation, although the company tried to put good |
| 1:48.3 | spin on what it could. |
| 1:51.6 | To what |
| 1:55.0 | extent if any did the company on the conference hall talk about sort of what they learned in |
| 1:59.0 | China and the way that they can apply that to what's happening here in the US. On |
| 2:04.0 | Starbucks most recent quarterly report that was something that Kevin Johnson the |
... |
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