Originally Posted by socrates

One thing to remember about MI is they are unlike Hilton & Starwood, they own very few of their hotels-by very few I mean it is typically under 10 each year but they do manage a large % of them for the property owners...this means they dont have to worry about making mortgage payments on the hotels - the owner of the building does, capital expenses for these hotels is the responsibility of the building owner etc because MI is just a manager of the asset.