2017 Results Presentation 28 February 2018
Disclaimer • The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Strat egic Hospitality Extendable Freehold and Leasehold REIT (the “REIT”) to you solely for your reference. Neither this presentation nor any part thereof may be ( i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the REIT. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the REIT. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the REIT. None of the REIT, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. • This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. • This presentation contains projections and forward ‐ looking statements that reflect the REIT's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the REIT. You are cautioned not to place undue reliance on these forward looking statements. No assurance can be given that future events will occur, that projections will be achieved, or that the REIT's assumptions are correct. Such forward ‐ looking statements are not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the REIT may differ materially from those forecasted and projected or in the forward ‐ looking statements. 2
Agenda Section 1 Key Highlights Section 2 Financial Statements Section 3 2018 Outlook and Key Initiatives Section 4 Background and Structure of SHREIT 3
Section 1 Key Highlights 4
SHREIT Key Highlights Strategic Hospitality Extendable Freehold and Leasehold REIT (“SHREIT”) completed a successful and ground-breaking listing on the Stock Exchange of Thailand (“SET”) on 27 December 2017 SHREIT is the first REIT listed on the SET with a portfolio of international hospitality assets (Ho Chi Minh in Vietnam and Jakarta in Indonesia) Since taking ownership of the hotel portfolio on 22 December 2017, SHREIT has rapidly integrated the portfolio assets with the assistance of Accor SA and Frasers Hospitality (the international hotel operators for SHREIT hospitality assets) Strong organic growth for each underlying hotel in FY2017 versus FY2016. Continued strong momentum from 2017 with all hotels achieving their best January trading month on record during January 2018 Key initiatives put in place to position SHREIT for organic and acquisition growth in the near term and to diversify its funding sources 5
Portfolio Level Comparisons - FY2017 vs FY2016 Indonesia Vietnam Pullman Jakarta Capri by Fraser IBIS HCMC Central Park HCMC Hotel Operating Performance % Increase / % Increase / % Increase / Currency Unit: USD FY2017 FY2016 FY2017 FY2016 FY2017 FY2016 (Decrease) (Decrease) (Decrease) Gross Operating Revenue 16,318,074 15,136,973 7.8% 3,004,394 2,779,978 8.1% 1,787,649 1,547,630 15.5% (GOR) Gross Operating Profit 7,913,620 7,114,569 11.2% 1,676,046 1,638,307 2.3% 896,617 763,757 17.4% (GOP) Net Operating Profit 6,974,594 5,819,317 19.9% 1,736,210 1,699,724 2.1% 802,142 681,508 17.7% (NOP) Average Daily Rate 102.6 102.3 0.3% 63.5 59.3 7.2% 45.2 39.5 14.4% (ADR) Average Occupancy Rate 79.4% 75.7% 3.7% 74.7% 73.8% 0.9% 64.7% 63.3% 1.4% (Avg Occ.) Revenue per Available Room 81.5 77.4 5.2% 47.4 43.7 8.5% 29.3 25.0 16.9% (RevPar) Notes : (1) Financial performance for Pullman is based on exchange rate of 13,650 VND/USD (2) Financial performance for Capri and IBIS are based on exchange rate of 22,700 VND/USD 6
Portfolio Performance Review – Pullman Jakarta Central Park FY2017 FY2016 Variance GOR (USD m) 16.3 15.1 7.8% GOP (USD m) 7.9 7.1 11.2% USD100.3mn USD94.7mn Pullman Jakarta Central Park Acquisition Value (1) Appraiser Valuations (2) (22 nd December 2017) (31 st December 2017) ➢ The strong performance for Pullman in 2017 was mainly driven by impressive growth in domestic weddings, MICE, and F&B activities Non-room revenue growing by double digits in 2017 compared to 2016 Effectively leveraged ballroom and conference meeting facilities measuring over 8,500 sqm and hosting over 60 weddings in 2017 Awarded the “Best City Hotel” and “Best Wedding Hotel” in Indonesia by International Hotel Awards in 2017 ➢ Received additional boost from leading Asian Airlines crew contract in 2017 ➢ Key 2018 catalysts – Asian Games Domestic Election spending Continued optimization of RevPar mix Continued momentum in non-room revenue ➢ January 2018 trading performance best January month on record ADR (USD) Avg RevPar (USD) Avg Occ. 102.6 102.3 79.4% 81.5 77.4 75.7% Note: FY2017 FY2016 1.The acquisition price was agreed in Aug 2016. 7 2. Colliers International.
Portfolio Performance Review – Capri by Fraser FY2017 FY2016 Variance GOR (USD m) 3.0 2.8 8.1% GOP (USD m) 1.7 1.6 2.3% USD23.1mn USD21.0mn Capri by Fraser Acquisition Value (1) Appraiser Valuations (2) (22 nd December 2017) (31 st December 2017) ➢ The increase in GOR and GOP in 2017 was driven by robust RevPar management and positioning as the only internationally branded 4- star hotel in District 7, HCMC Client mix shifting from 70 / 30% long-stay / short-stay towards a target client mix of 50 / 50% respectively – short-stay rates help drive higher ADR Strong and captive ADR pricing power from the nearby Saigon Exhibition Convention Centre (“SECC”) – 84 trade events/conventions in 2017 (up significantly from 56 in 2016) Benefiting from general positive demand-supply dynamics in Ho Chi Minh City ➢ Key 2018 catalysts – RevPar management to focus on room rate and occupancy from short-stay and reducing contribution from long-stay to leverage the hotel’s location advantage to SECC Corporate demand from strong Vietnam economic activity and growth F&B moved in-house which should drive incremental performance ➢ January 2018 trading performance best January month on record ADR (USD) Avg RevPar (USD) Avg Occ. 63.5 59.3 74.7% 73.8% 47.4 43.7 Note: FY2017 FY2016 1.The acquisition price was agreed in Aug 2016. 8 2. Colliers International.
Portfolio Performance Review – IBIS Saigon South FY2017 FY2016 Variance GOR (USD m) 1.8 1.5 15.5% GOP (USD m) 0.9 0.8 17.4% USD15.2mn USD15.0mn IBIS Saigon South Acquisition Value (1) Appraiser Valuations (2) (31 st December 2017) (22 nd December 2017) ➢ The increase in GOR and GOP in 2017 was driven by impressive RevPar management and positioning as the only internationally branded 3-star hotel in District 7 Strategic positioning as a leisure hotel for Mekong Delta tour groups Strong and captive ADR pricing power from the nearby Saigon Exhibition Convention Centre – 84 trade events/conventions in 2017 (up significantly from 56 in 2016) Benefiting from general positive demand-supply dynamics in Ho Chi Minh City Strong brand recognition from budget travellers from China and Korea ➢ Key 2018 catalysts – RevPar management to focus on rate and occupancy Strong leisure group demand from increased tourist arrivals (Mekong delta tours) Corporate demand from strong Vietnam economic activity and growth ➢ January 2018 trading performance best January month on record ADR (USD) Avg RevPar (USD) Avg Occ. 64.7% 45.2 39.5 63.3% 29.3 25.0 Note: FY2017 FY2016 1.The acquisition price was agreed in Aug 2016. 9 2. Colliers International.
Section 2 Financial Statements 10
Recommend
More recommend
