GAMERS…. 

(ERI) selling for 8X times EBITDA   -&-   (GDEN) selling for 7.5x timesEBITDA  ==>  On 2019 Estimates 

LAQUINTA HOTELS => SOLD => For 12.5x TIMES/ EBITDA 

LAQUINTA Hotels – (LQ) …. Just got “BOUGHT” … By Wyndham Hotels (WYN)

For => 12.5x times / EBITDA => Including “Deal Efficiencies” according to:  Morningstar’s Analysis

Morningstar crowing that this LQ/WYN deal is a => “WINNER”

When compared to peer comp “CHOICE HOTELS” which currently sells for =>  17x Times/EBITDA

REFERENCE LINK:
https://goo.gl/c5yNwS

This LQ/WYN deal is a =>  “HOTEL ONLY” Transaction … With “ZERO GAMING” ops involved

Thesis has always been ….

GAMING + HOTEL …. Is a Better Business Model =>  Than “HOTEL ONLY”

Therefore …

Shouldn’t  “GAMING + HOTEL”…

Sell for a “SUPERIOR” EBITDA Valuation / Multiple ????