QEENS MOAT-- READY TO TAKE OFF

So, what are the chances of QMOT's property interests being revalued downwards?

I assume the properties are included in the balance sheet at historical cost? If so, it is unlikely that property values have fallen (i know my property hasn't). So why would hotels be revalued. I can understand to a degree why a golf course etc was overvalued (see previous comment re Clubhaus), but not a hotel property.

If there was to be a revaluation of the property portfolio downwards by 20%, should the auditors have signed off the accounts if the values stated were not true and fair (or materially misstated).

I ask the question again, is there not huge upside potential here or am I missing something?

Regards

Bopper (oh and happy new year everyone)