Barbarian Capital on X
Barry Diller Withdraws Bid for MGM Resorts $MGM https://t.co/2iXlXJ49gY
Sector
Travel & Leisure
Everything our editor has picked under this sector, best first.
199 stories
A Capital on X
The $MGM bid was fugazzi. Now we buy? https://t.co/Zi2T462m8v
Broken Moats on X
Fully understand the threat and disruption to OTAs from agents circumventing to direct sources (no reason for Hilton to pay to get eyeballs on their properties if theres new way to discover availability, demand and price (keep the economics) I struggle to understand the risk to $ABNB though, assuming its from price competition to list (more discoverable so go with platform that charges the least in take rates??). No real ad revenue so even if you change how people engage with the network it does not have the same impact as businesses with paid placements/rankings A long way off from people coding or buying their own booking nd payment system to let bots discover their basement is available for rent. I would add even if this was readily available its highly unlikely to be the model as both parties want an intermediary to rely on for insurance, communications, arbitration, working capital (book, pay later). Interesting to see this one caught up to the same degree think a lot of the e-commerce players with ad revenue and ranking/paid promotional revenue have a lot more at stake
AltayCap on X
$BKNG discourse regarding agents: If the interface to book changes, OTAs lose. Boutique hotels don't need to be tech savvy. They will run some white label SaaS product that interfaces with agents and handles booking. OTAs are bad for society. Huge take rates (20%+) due to rent seeking. No real innovation / value add to society. Disruption here is good. Disruption will be slow because I imagine bkng contracts will stifle adoption and agent usage is still nothing and won't be anything material for at least a decade. If bkng trades at 30 p/e, it would be an easy short. But today's valuation isn't too demanding. But still tempting to short.
junkbondinvestor on X
Remember during COVID, $RCL was raising debt (secured by 28 of its own ships btw) at 11% just to stay alive? Well, they just agreed to pay $3bn for Sandals, the biggest deal in its history 6 years ago, the question was whether they would still exist...how times change https://t.co/qsdrXBcHhA
Barbarian Capital on X
$FUN Activist Jana Partners Urges Six Flags to Explore Sale https://t.co/ifMKt79541
Asif Suria on X
Wrote this quick note when adding $GRAB to my internal watchlist after the dual insider transactions by CEO @AnthonyPY_Tan and COO @alexhungate that were filed after hours yesterday. The purchase reminds me of Neil Mehta's (Greenoaks) insider purchases of Coupang $CPNG and @Alfred_Lin's $100 million purchase of DoorDash $DASH for Sequoia last year.
McDonald's Stock Selloff Is Hiding An Even Better Setup
McDonald’s trades at $248 versus a $309.29 intrinsic-value estimate as its U.S.
Future Stack Investment 3 clicks
Southwest Airlines: A $900 Million Fuel Bill Is Hiding A Different Company
Southwest Airlines grew adjusted unit revenue 20% on flat capacity and operating income 27% despite a $900 million fuel headwind, driven by…
Jaden Mealy 1 click
TRIP · long Tripadvisor INC
Tripadvisor (TRIP) is presented as a long idea.
Myles on X
In Austin trying $CAVA for the first time. Ngl it's pretty good. Not sure it's 80x earnings good, but it's good.
kab60 on X
@JerryCap Of course. Although I would think you'd like $BKNG and their mngmt as well.
Aggressive Portfolio Trades: Buy Vail Resorts, Buy ORR, Short GEO
Vail Resorts, down 60% since 2022, is pitched for an El Niño-driven ski-season rebound; the portfolio also buys ORR and shorts GEO.
Ian Bezek on X
@Tintincapital @valuehurts Has already happened, no? The $WING and $CAVA style restaurant growth stories have collapsed. Or look at something like Vail Resorts, down 65% off the 2022 peak.
Southwest Airlines: Buy The Transformation Despite The Oil Shock
Southwest Airlines targets more than $2 billion of 2026 EBIT from assigned seating, extra legroom and bag fees despite higher fuel costs…
Dhierin Bechai 4 clicks
Deep Dive: Grab Holdings ($GRAB)
Grab generates 53% of revenue from delivery, 36% from mobility and 10% from financial services, using its Southeast Asian marketplace to…
SG on X
$CAR: its hard to believe that the largest, most violent short squeeze of the year was in a stodgy, underperforming rental car company. https://t.co/yuRYzlSmmQ
A Capital on X
What’s the bear thesis on $MGM here? All of the $PPLI Barry deal premium has evaporated. Even if his bid was fugazzi, it highlighted a valuation disconnect especially as it related to Asian assets… What am I missing?
DiamondRock Hospitality Company: Still A Buy, Though Not As Cheap
DiamondRock Hospitality raised 2026 guidance after Q2 RevPAR rose 7%, AFFO climbed 25.7% to $0.44 a share, and net debt to EBITDA reached…
Philip Wang Ian Bezek on X
@dede_eyesan I'm sure $CAAP would bid as well if there is an open process. Ultimately would imagine government is just going to sell to Brookfield though.
Deep Sail Capital on X
Can Hertz $HTZ Squeeze Again? https://t.co/JGSpzf0sYQ
⚽️📡 on X
Interesting to note $DKNG largest volume gain in prediction mkt volume over last seven days https://t.co/34Zg2HaCoT
JabroniCoin.USD on X
Publicly traded Lifetime Fitness $LTH actually did engineering and product innovation in pickleball. Built a more durable and consistent ball that eventually became PPA tournament-official. https://t.co/w8N1bsRIpW
A Capital on X
Someone risked $37.5k of premium selling itm December $PRKS put spread to bet on a Hill Path take private and the thin float exacerbated the move?
