I like TPSEA [I have a few shares but not as part of my core portfolio] for the management chops. They have done well in a tough industry.
I was at Serena Nairobi and it is a construction site mess! They are refurbishing the hotel as well as building a new extension on the parking lot bordering Kenyatta Ave. New rooms, banquet facilities, etc are on the horizon. The refurbishment must have hit the bottomline was guests avoid construction zones.
Bottomline: The group is positioning itself for the next 5+ years...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett