Hotel Property Investments: Interim result 2015

This owner of pubs predominantly located in Queensland and leased to Coles is looking for more.

If you bought Hotel Property Investments (HPI) when it was upgraded in HPI: beer we go again on 5 Mar 14 (Buy — $2.00) you'd now be nursing a 35% capital gain. Throw in dividends and your total return is a not too shabby 43%. It's been a far better performer than the hybrid securities investors have been intoxicated by and it's a good example of the sort of value you can find if you look beyond Australia's biggest and most well known stocks.

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