In today’s briefing:
- Paradise: Expansion into High End Hotel Likely to Destroy Shareholder Value
Paradise: Expansion into High End Hotel Likely to Destroy Shareholder Value
- On 2 July, Paradise Co Ltd (034230 KS) announced that it will construct a new high end luxury hotel in Seoul spending about 500 billion won to 550 billion won.
- We believe that this construction of the new luxury hotel will have a negative impact on shares of Paradise.
- Rather than investing a large sum of money to build a new hotel, many investors would rather have preferred Paradise to increase share buybacks and dividends.
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