GL (formerly known as Guocoleisure) broke an important resistance level of $0.90 last Friday, 15 April 2016.
GL is an investment holding company with principal investments in hotel management & operations, gaming, oil & gas, property development and other areas in the leisure industry. Notably, GL is the largest hotel owner operator in London with 5,000+ rooms, operating 17 hotels across 6 brands: Clermont Hotels & Residences, Amba Hotels, every hotels, Guoman Hotels, Thistle and Thistle Express.
The company receives 55.11% of a 2.5% overriding royalty from the Bass Strait relating to all hydrocarbons produced in designated areas in the Bass Strait, Australia
Market Action
18 Apr 2016 - Bought Guocoleisure at $0.905
Potential Catalysts:
- Previous talk of privatisation, which has yet to materialise.
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