D u s i t T h a n i P l c . Opportunity Day “1H 2019 Performance” 2 September 2019
Disclaimer The material contained in this document has been prepared by Dusit Thani Public Company Limited (“DTC”) and may contain forward looking statements which includes but not limited to statements regarding our intent, belief, current expectation in respect of DTC’s business, operation, market researches, results of operation and financial conditions, capital adequacy, specific provisions and risk management practices. While due care has been used in the preparation of forward looking statements, the assumptions of the information are subject to various risk and uncertainties which the actual results may vary in a materially positive or negative manner differently from the anticipation. And no assurance that the past performance is a reliable indication of future performance. Therefore, the information regarding forward looking statements shall not be considered as recommendation or advice to investors or potential investors in relation to hold, purchase, or sell securities. In this respect, DTC reserves the right not to be responsible and expressly disclaims all liabilities for, damages of any kind arising out of use, reference to, or reliance on any information contained herein. 2
Ag Agen enda Page Business Overview 4 1H 2019 Recap 14 Financial Performance 24 Outlook & Guidance 28 3
Business overview Our heritage inspires our future Dusit Thani Bangkok, Thailand 4
DTC a C at a a glance Distinctly Thai yet with global reach, DTC is a leading hospitality company on a multi-year strategic journey to deliver broadened experiences for our customers and create greater value for our shareholders. 71 14 Years in hospitality business Countries 271 60+ Properties in operation* Contracts in pipeline 9 Owned hotels 26 Years in education business 24 Hotel management contracts & franchise 238 Villa management contracts Revenue Contribution Hotel Education Food Others** Property 1H19: THB 2,695 mn 73.6% 7.2% 7.9% 1.3% Development As of 30 June 2019 * Dusit Thani Laguna Phuket, dusitD2 Chiang Mai and the leasehold of Dusit Thani Hua Hin are under Dusit Thani Freehold and Leasehold Real Estate Investment Trust (DREIT) of which DTC holds a 30.02% stake. ** DREIT, Venture Capital (favstay), and Hospitality Services (Outside catering, Housekeeping on demand, Restaurant, and Hotel pre-opening),and others 5
DTC’s l s lodgi ging s spec ectru rum Offered broadened experiences for our customers FULL SERVICE LIMITED SERVICE EXPERIENCE Bespoke/ Branded Lifestyle/ Sharing Cruise/ Villa/ Midscale Economy Budget Luxury Residence Boutique Economy Vacation Club * Remark: * 9.24% Investment = Future plan 6
Hotel & Hot & Villa b brand p por ortf tfol olio io Cosmopolitan, Elegant, Reliable & True hospitality Niche, Discerning & Secluded privacy Smart, Contemporary & Efficient Dusit Thani Hua Hin, Thailand Dusit Devarana Hot Springs & Spa Conghua, China dusitD2 Khao Yai, Thailand Value, Friendly & Genuine simplicity Exceptional experiences with personal touch services Thoughtful essentials, Locally inspired, Common areas & Connected community > 200 villas across Indonesia, Thailand, Sri Lanka, Japan, and the Maldives Dusit Princess Moonrise Beach Resort, Phu Quoc, Vietnam Since Apr 2017, DTC invested 9.24% in favstay - an active and fast growing sharing economy platform for listed properties. Favstay had 44,350 property listings in 1H19. 7
DTC’s h s hospitality e education l landsc scape Full range of hospitality program: Formal education (degree program), Professional class (short course/ executive course), and Management contract and continues to seek opportunities for its unique brand of education in key destinations worldwide. Collaboration with esteemed partners & Consulting Certify Body services Le Cordon Bleu Dusit Service Offering L&D Innovation Hospitality Dusit Thani Resource Centre Excellence Center Integrated Informal Short Courses Hospitality & Int’l Expansion support Institute Dusit Thani College Academy Dusit Hospitality Management College, Manila Hospitality College Thailand ASIA The World Recognition Level 8
Mixed-use se p project: Du Dusi sit Ce Central Park THB 36.7 bn project covering 440,000 sq.m. of prime estate on the corner of Silom and Rama IV road Dusit Thani Dusit Residences Sky Roof Central Park Central Park Offices Bangkok Hotel & Dusit Parkside Park • The world’s class retail • The best in class office • The new flagship of Dusit • Super luxury Residences • Thailand’s biggest roof park shopping center with building with LEED certified • 11,000 sq.m. (7 rai) green International with two concepts under interactive retail • 5-star park view hotel in CBD Bangkok Dusit Residences (Refined, space on top of retail experiences • Fully equipped with • Elegant design embracing Timeless, Exclusive) and podium • Iconic brands functions for intelligent • Open space for sports, Thai heritage and identity Dusit Parkside (Elegant, • Variety of food around the • Digital technology services building Contemporary, Curated) leisure activities and world • 45 Floors 92,000 sqm. • 39 Floors 49,000 sq.m. • 69 Floors 49,000 sq.m. Bangkok events • 6 Floors 78,000 sq.m. (Net saleable area) Opening target Hotel 1H 2023 Retail & Office 2H 2023 Residence 1H 2024 Remark: Excluding parking area 9
Dusit F t Food oods “Bringing ASIA to the World” Be Natural | Be Organic | Be Healthy | Support Local Community Investment Rationale DTC 99.99% Dusit Foods 25.977% 90.0% 51.0% 51.0% 10.0% Epicure Catering** Dusit Real Foods*** NR Instant Produce* Dusit Gourmet Food retail to distribute Dusit Will open and operate dining outlets within International school branded premium products to Virgin Active Fitness Clubs in Bangkok as catering Food manufacturer domestic & international markets well as expand to non-Virgin Active Clubs and exporter where customers will enjoy easy access to New brand “Khong Thai” healthy meals, snacks and shakes. launched in end-May 2019 * Invested since March 2018 ** New investment in January 2019; 19% additional stake will take place in early 2020 10 *** New JV in July 2019
Key m miles estones es Dusit Thani College Brand established 1948 in Thailand The 1949 1966 1970 1975 1987 1988 1990 1993 1995 1996 1997 2001 Princess Dusit Thani The Princess Chiang Mai DTC Phuket Pattaya HuaHin Korat Bangkok Manila Dubai Bangkok Co., Ltd. Bangkok Hotel Dusit Thani DTCPF Hotel School Overseas asset light 2006 expansion Chiang Mai 2007 2010 2012 2013 2014 2015 Cairo Guam Maldives Nairobi China Krabi Abu Dhabi Expand & Diversify 2016 beyond hotel Dusit Foods • Balancing portfolio & 2019 2017 2018 China • Strengthening Vimarnsuriya Unveiled Rebranding Cebu Khao Yai Colours (Mixed-use “Dusit Khong Thai hospitality Divested foundation Phu Quoc Davao International project, Central Dusit Real Dubai education Dusit Dusit Dusit Gourmet China Bangkok) Park” Foods Hospitality Princess Krabi Services Korat Doha Thimphu Grace Me Bangkok Davao Dubai 11 As of 23 August 2019
Strategic di direction With strong background in the hotel management and education business, DTC has entered a new chapter with multi-year plan under “Balance, Diversify, and Expand” strategy… 50:50 domestic/overseas revenue with balance of Long term target Balance asset light vs capital investment Diversify 10% contribution from new adjacent business Non-hotel: Expand Double number of rooms in operation to 14,000 keys in 2021 … by strengthening 5 key pillar foundations. 12
Stra rategic ro roadmap • Set new strategic direction • Realize revenue from • Completion of new mixed-use • Develop new Vision/Mission/ new investments project and new iconic flagship hotel • Integration of hospitality • More revenue contribution from Values • Focus on key priorities and education business new investments • Double no. of keys • Balance of revenue contribution from Thailand and overseas worldwide 13
1H 2019 Recap Dusit Devarana Hot Springs & Spa Conghua, China 14
1H1 H19 R Recap Le Condon Bleu Dusit Culinary relocation Dusit Thani Bangkok hotel closure Continued to expand in food business Jan Acquired 51% in A market leader in the education catering business Relocated to Zen Tower, CentralWorld Shopping Centre, Bangkok, where it can accommodate an additional 600 students per year. Apr “Dusit Central Park” project unveil Sale of Dusit Thani Maldives to DREIT THB 36.7 bn mixed-use project covering 440,000 sq.m. of prime estate on the corner of Silom and Rama IV road Dusit Thani Laguna Phuket dusitD2 Chiang Mai The leasehold of Dusit Thani Hua Hin Received the shareholder approval on the selling of Dusit Thani Maldives to DREIT as part of DTC’s strategy for asset portfolio efficiency and strengthen financial capability • Transaction worth not less than THB 2,304 mn expected to be completed in 3Q19. • DTC will continue to obtain revenue from the property, and receive dividends from DREIT. • Currently, the process remains on-track. 15
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