Post on 21-Sep-2020
Central Plaza Hotel Public Company Limited - CENTEL
Q1/19 Opportunity Day Presentation
Agenda
Q1/19 summary performance
Hotel business overview
Food business overview
CAPEX and guidance 2019
Appendix
Consolidated earning Q1/19
THB million Q1/18 Q1/19 % Chg
Total hotel revenue* 2,948.8 2,755.6 -6.6%
Total food revenue 2,792.5 2,887.4 3.4%
Total revenues 5,741.3 5,643.0 -1.7%
EBITDA 1,664.4 1,497.6 -10.0%
EBITDA margin (%) 29.0% 26.5% -2.5%
Net profit 883.0 825.9 -6.5%
Note: excluding non-recurring item
Less: insurance claim (net of tax)** - 80.6 na
Net profit excluding non-recurring item 883.0 745.3 -15.6%
Note: * Total hotel revenue included deferred rental income 24.7 mn per year ** Insurance claim from fire at Central World, Big C Rajdamri and Center One in 2010
Q1/19 Summary Performance Page 3
THB 825.9 mn net profit even Chinese and European down and slow domestic economy
Low gearing & optimized profile
Page 4
Average funding cost of 3.05%
Fixed, 78% USD, 20%
Gearing ratio Dec 2018 Mar 2019
Current ratio 1.1 1.1
Interest bearing debt/Equity 0.5 0.5
Dec 2018 Mar 2019
OD, Short-term loan Debentures Long-term loan
Note: * Included current portion of long-term loan and debentures
*
THB 7.1bn 1.4%
60%
34%
6%
50%
34%
16% Dec 2018 Mar 2019
Financial position
Total liabilities Total equity
52%
48% 53%
47%
THB 26.4 bn 2.7%
Total interest bearing debt
Q1/19 Summary Performance
THB 27.1 bn THB 7.0bn
Hotel business overview
Thailand tourism overview Slightly growth as key markets drop
Hotel Business Overview Page 6 6
Source: Ministry of Tourism and Sport
10.6 8.9 9.1 9.7 10.8
15.4% 9.1% 2.7% 4.3% 1.5%
-200.0%
-150.0%
-100.0%
-50.0%
0.0%
50.0%
-5.0
5.0
15.0
25.0
35.0
45.0
55.0
Q1/18 Q2/18 Q3/18 Q4/18 Q1/19
No. of tourist arrivals Growth yoy
Thailand number of tourist arrivals
Unit: million Drop in Chinese (-2.1%) and European (-2.5%)
Thailand tourism overview
Page 7
Indian +25% yoy
(Unit : Person) Source: Ministry of Tourism and Sport
Top 10 - International Tourist Arrivals growth Q1/19 (%)
Hotel Business Overview
China 3,107,978
29%
Malaysia 915,922
9%
Russia 615,516
6%
Korea 537,044
5%
Japan 474,225
4%
India 4%
Laos 4%
USA 3%
Germany 3%
France 3%
UK 3% Vietnam
2%
Hong Kong 2% Cambodia
2% Taiwan
2%
Others 21%
Top 15 - International Tourist Contribution Q1/19
-2%
8%
-1%
7% 9%
25%
2% 4%
-7%
3%
Hotel demand and supply in Maldives
Hotel Business Overview Page 8
Strong demand growth from European and Indian
Number of operational beds*
41,137 41,503 42,355 43,660 45,106
9% 7% 8% 8% 10%
-200.0%
-150.0%
-100.0%
-50.0%
0.0%
50.0%
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Q1/18 Q2/18 Q3/18 Q4/18 Q1/19
No. of operational beds Bed growth yoy
Source: Ministry of Tourism, Republic of Maldives
Note: * included hotels, resorts, guest houses and safari vessels
Unit: beds
Number of tourist arrivals and occupancy rate (yoy)
420,103 306,412 353,944 403,815
482,978
75% 52% 57% 64% 75%
-500.00%
-400.00%
-300.00%
-200.00%
-100.00%
0.00%
100.00%
200.00%
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
Q1/18 Q2/18 Q3/18 Q4/18 Q1/19
No. of arrivals % Occupancy
Source: Ministry of Tourism, Republic of Maldives
Unit: persons
17% 3% 4% 3% 15%
Maldives tourism overview
Page 9
(Unit : Person)
Source: Ministry of Tourism Republic of Maldives
Top 10 – International tourist arrivals growth Q1/19 (%)
Indian +86% yoy
Hotel Business Overview
China 76,568
16%
Italy 52,848
11%
Germany 37,279
8%
UK 36,116
7%
India 36,053
7%
France 6%
Russia 5%
U.S.A. 3%
Japan 2%
Switzerland 2%
Australia 2% Austria
2%
Korea 2%
Saudi Arabia 1% Malaysia
1%
Others 24%
Top 15 - International Tourist Contribution Q1/19
6%
27%
14% 11%
86%
28%
8%
44%
5%
-1%
Hotel portfolio – 13,477 rooms
Page 10
Upcoming overseas
In operation Pipeline
Thailand Overseas Total Thailand Overseas Total Grand total
Owned 15* 2 17 2 3 5 22
Managed 18 4 22 10 14 24 46
Total 33 6 39 12 17 29 68
In operation Pipeline
Thailand Overseas Total Thailand Overseas Total Grand total
Owned 3,932 252 4,184 412 911 1,323 5,507
Managed 2,593 786 3,379 1,778 2,813 4,591 7,970
Total 6,525 1,038 7,563 2,190 3,724 5,914 13,477
As of March 2019
55% Owned
Total portfolio by rooms
*Including JV and property fund
65% Thailand
41% Owned
Number of hotels Number of rooms
In operation by rooms
86% Thailand
Hotel Business Overview
Pipeline – 5,914 rooms
11 Hotel Business Overview Page 11
AEC, Middle East and Indian Ocean
# of rooms Owned Managed Total
Year 2019E 2021E 2022 E 2019E 2020E 2021E 2022E
Bali 210 210
Cambodia 240 240
China 300 296 596
Doha 509 509
Dubai 601 601
Laos 322 56 200 578
Maldives 310 231 541
Turkey 449 449
Thailand 282 130 329 391 538 520 2,190
Total Rooms 282 731 310 329 1,762 890 1,610 5,914
Total Hotels 1 3 1 2 8 6 8 29
As of March 2019
Summary of pipeline 2019E-2022E
China 596 keys East Asia
Turkey 449 keys West Asia
Bali, Cambodia, Laos and Thailand 3,218 keys Southeast Asia
Maldives 541 keys South Asia
Doha and Dubai 1,110 keys Middle East
Total portfolio: number of rooms by region
*
* Target to open in September 2019
2,949 2,756
1,324 1,176
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Q1/18 Q1/19
Total Revenue EBITDA before extra items
6.5%
11.2%
Hotel performance
12 Hotel Business Overview Page 12
Soft demand across portfolio & 36-room closure at Samui
42.7%
Unit: THB mn
EBITDA margin 44.9%
Total own portfolio
13 Hotel Business Overview Page 13
RevPar -5.7% from both OCC and ARR
5,690 5,541 4,894 4,615
86.0% 83.3%
50%
55%
60%
65%
70%
75%
80%
85%
90%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Q1/18 Q1/19
Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)
5.7%
2.7%
2.6%
Thailand portfolio
14 Hotel Business Overview Page 14
4,671 4,530 4,017 3,750
86.0%
82.8%
50%
55%
60%
65%
70%
75%
80%
85%
90%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
Q1/18 Q1/19
Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)
6.7%
3.2%
3.0%
RevPar -6.7% from both OCC and ARR
Bangkok portfolio
15 Hotel Business Overview Page 15
Decrease in demand for MICE business during election
3,244 3,299 2,798 2,657
86.3%
80.5%
50%
55%
60%
65%
70%
75%
80%
85%
90%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1/18 Q1/19
Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)
5.0%
5.8%
1.7%
Upcountry portfolio
16 Hotel Business Overview Page 16
Chinese & European drop impacted Krabi, Samui, Phuket & Pattaya
5,366 5,111 4,608
4,288
85.9% 83.9%
50%
55%
60%
65%
70%
75%
80%
85%
90%
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Q1/18 Q1/19
Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)
4.8%
2.0%
6.9%
Maldives portfolio
17 Hotel Business Overview Page 17
RevPar (USD) -3.2% from ARR
21,492 19,746
18,524 17,956
587 568
86.2% 90.9%
10%
20%
30%
40%
50%
60%
70%
80%
90%
0
5,000
10,000
15,000
20,000
25,000
30,000
Q1/18 Q1/19
Average Room Rate (ARR) Revenue Per Available Room (RevPar) RevPar (USD) Occupancy (OCC)
8.1%
3.1%
4.7%
3.2%
Hotel revenue breakdown by region
Page 18
29.9%
17.1% 17.5%
12.1% 7.7% 6.7% 7.0%
2.0%
29.8%
17.8% 17.9%
12.0%
8.3% 5.6% 6.7% 1.9%
Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others
Q1/18 Q1/19 Total revenue
Q1/19 Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak
% RevPar Growth yoy -5.0% -3.1% -4.9% -10.9% 0.7% -14.8% -10.2% -4.6% -16.3%
Hotel Business Overview
done 82% of hotel revenue from Thailand
Food business overview
Q1/19 Food outlet portfolio – 1,003 outlets +11.6% yoy
Page 20 Food Business Overview
Bangkok Upcountry
65% Upcountry
64% Upcountry
Brands # of outlets % Change yoy
KFC 269 9.3%
Mister Donut 365 8.3%
Auntie Anne’s 172 16.2%
Ootoya 46 4.5%
Pepper Lunch 42 27.3%
The Terrace 9 -
Chabuton 19 5.6%
Yoshinoya 22 37.5%
Tenya 10 42.9%
Katsuya 28 33.3%
Cold Stone 18 -10.0%
Aroi Dee 3 na
Total 1,003 11.6%
Number of outlets by location Revenue contribution by location
Food business performance Growth from outlet expansion
Page 21 Food Business Overview
32%
32%
Unit: THB mn
2,793 2,887
341 322
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Q1/18 Q1/19
Total Revenue EBITDA
5.4%
3.4%
EBITDA Margin 11.2% 12.2%
Food business TSS & SSS Negative SSS both Bangkok and upcountry
Page 22 Food Business Overview
Same store sale (SSS) and Total system sale (TSS) Same store sale (SSS): Bangkok vs Upcountry
1.4%
-0.9%
3.3%
-1.7%
-4.1%
-1.6%
0.5%
2.1%
-1.7%
-3.6%
-5.0%
-4.0%
-3.0%
-2.0%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
Bangkok Upcountry
-0.6%
0.0%
2.6%
-1.7%
-3.8%
7.9%
10.0%
12.5%
6.5%
3.4%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
SSS TSS
1Q18 1Q18
2Q18 2Q18
3Q18 3Q18
4Q18 4Q18
1Q19 1Q19
Q1/19 food revenue breakdown
Page 23
KFC, 57%
Mister Donut, 14%
OOTOYA, 8%
Auntie Anne's, 7%
Others, 14% 12%
Q1/19
Food Business Overview
KFC drove revenue growth
(+7.5% yoy) (+2.9% yoy)
(+1.1% yoy)
(+6.1% yoy)
(-13.8% yoy)
Launched new own brand
Page 24
Suki House
Suki House Details
Category Suki homemade style
Opened April 3, 2019
Location Gate Way @ Bang Sue
Market target Scalable
Number of outlets in 2019 4
Target payback period 3 years
CAPEX & GUIDANCE
2019
3-year capital expenditure : THB 27bn
Page 26
-
2,000
4,000
6,000
8,000
10,000
2018A 2019E 2020E 2021E
Hotel Food Potential projects
Sufficient funding with loan/bond & operating cashflow
Financial Highlight
2020E 2019E 2021E
Centara Grand Central World
Renovation
&
Enhancement
New Investment
&
Expansion
Centara Grand Samui
Centara Grand Hua Hin*
New investment in food brand(s) & hotel(s)*
Food outlet expansion
2 new Centara Maldives
Centara Dubai
COSI Pattaya
COSI Chiang Mai
CAPEX (THB mn)
Annual renovation for existing hotels
Annual renovation for existing CRG’s outlets
Note: *potential projects are under feasibility study
…
CENTEL guidance 2019
Page 27 Financial Highlight
Hotel 2018A* 2019E - Revised
Occupancy 82.6% 83% - 85%
RevPar -0.1% Flat
Food 2018A 2019E - Revised
SSS 0.1% Flat
TSS 9.3% 5% - 6%
Outlet Expansion 7.5% 8% - 9%
Hotel: 2019 • Open new hotel 282 rooms - COSI Pattaya in September • Hotel revenue growth less than RevPar growth due mainly
to major renovation of Centara Grand Samui from June 2019 onwards
Food: 2019 • Three own brands development (Aroi Dee, Suki House and a
light food brand)
*Excluded COSI Samui and Centra Chaengwatthana
Q&A
28 Page 28 Q&A
More Information please Contract: Investor relation department
Central Plaza Public Company Limited 25th Fl, Centara Grand at CentralWorld 999/9 Rama I Rd., Pathumwan Bangkok 10330 Thailand
https://investor.centarahotelsresorts.com/ ir@chr.co.th
Disclaimer
This presentation contains certain forward looking statements. Such forward looking statements are not guarantees of future
performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements
as a result of various factors and circumstances. The views, analyses and opinions expressed herein contain some information
derived from publicly available sources and third party information providers. No representation or warranty is made as to
the accuracy, completeness, or reliability of such information. This presentation should not be relied upon as any
recommendation, view, opinion, representation or forecast of “Central Plaza Hotel Plc.” Nothing in this presentation should
be construed as either an offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any
jurisdiction. This presentation is not intended to be any type of investment advice and must not be relied upon as such. You
must always seek the relevant professional advice before otherwise making any such financial, legal or commercial decisions.
29 Page 29
Appendix
Hotel revenue by asset type (Freehold & Leasehold)
Page 31 Appendix
0.1
9.7
13.7
34.5
0
5
10
15
20
25
30
35
40
Centara Grand Hua
Hin
Centara Grand
Ladprao
Centara Grand Central
World
COSI Samui
Rem
ain
ing
Year
s
Remaining leasehold life for Thailand hotels as at March 31, 2019
CHBR 7% CGLB
10%
CGCW 20%
37%
0% 0%
46%
17%
2018 hotel revenue
Thailand freehold
Thailand leasehold Maldives leasehold
Page 32 Appendix
Hotels in operation as at March 31, 2019 (1/3) Owned hotels Stars Opened # of Rooms % Ownership Location
1 Centara Grand at Central Plaza Ladprao Bangkok 5 2Q83 565 100% Thailand
2 Centara Grand Resort & Villas Hua Hin 5 1Q86 249 64% Thailand
3 Centra by Centara Hotel Mae Sot* 3 4Q89 120 100% Thailand
4 Centara Hat Yai 4 4Q95 248 100% Thailand
5 Centara Grand Beach Resort Samui 5 2Q96 203 25% in Property Fund Thailand
6 Centara Villas Samui 4 2Q00 102 100% Thailand
7 Centara Villas Phuket 4 2Q00 72 100% Thailand
8 Centara Grand Beach Resort & Villas Krabi 5 4Q05 192 100% Thailand
9 Centara Kata Resort Phuket 4 2Q06 163 100% Thailand
10 Centara Karon Resort Phuket 4 2Q06 335 100% Thailand
11 Centara Grand at CentralWorld 5 4Q08 512 100% Thailand
12 Centara Grand Mirage Beach Resort Pattaya 5 4Q09 555 100% Thailand
13 Centara Grand Island Resort & Spa Maldives 5 4Q09 112 74% Maldives
14 Centara Grand Beach Resort Phuket 5 4Q10 262 100% Thailand
15 Centara Ras Fushi Resort & Spa Maldives 4 1Q13 140 75% Maldives
16 COSI Samui Chaweng Beach Affordable lifestyle 4Q17 150 100% Thailand
17 Centra by Centara Government Complex Hotel & Convention Centre Cheang Watthana
3 4Q12 204 100% Thailand
Total owned hotels 4,184
*Rebranded from” Centara” to “Centra” effective since October 20, 2018
Page 33 Appendix
Hotels in operation as at March 31, 2019 (2/3)
Managed hotels Stars Opened # of Rooms Country
18 Centara Chaan Talay Resort & Villas Trat 4 1Q08 44 Thailand
19 Centara Hotel & Convention Centre Udon Thani 4 2Q10 259 Thailand
20 Centara Q Resort Rayong 4 2Q10 41 Thailand
21 Khum Phaya Resort, Centara Boutique Collection Boutique 3Q10 87 Thailand
22 Waterfront Suites Phuket by Centara Residence 1Q11 39 Thailand
23 Centara Anda Dhevi Resort & Spa Krabi 4 4Q11 135 Thailand
24 Centara Pattaya Hotel 4 4Q11 152 Thailand
25 Centara Nova Hotel & Spa Pattaya 4 4Q11 79 Thailand
26 Centara Koh Chang Tropicana Resort 4 2Q12 157 Thailand
27 Centra Coconut Beach Resort Samui 3 3Q12 55 Thailand
28 Sandy Beach Non Nuoc Resort Danang Vietnam Managed by Centara 4 4Q12 204 Vietnam
29 Centara Watergate Hotel & Spa Bangkok 4 2Q13 281 Thailand
30 Centara Seaview Resort Khao Lak 4 2Q13 250 Thailand
31 Centara Grand Phratamnak Pattaya 5 3Q13 161 Thailand
Page 34 Appendix
Hotels in operation as at March 31, 2019 (3/3)
Managed hotels Stars Opened # of Rooms Country
32 Centara Blue Marine Resort & Spa Phuket 4 1Q14 266 Thailand
33 Centara Ceysands Resort & Spa Srilanka 4 2Q14 165 Sri Lanka
34 Centra by Centara Avenue Hotel Pattaya 3 4Q14 51 Thailand
35 Centra by Centara Maris Resort Jomtien 3 1Q16 282 Thailand
36 Centra by Centara Phu Pano Resort Krabi 3 4Q16 158 Thailand
37 Centara Azure Hotel Pattaya 4 4Q16 96 Thailand
38 Centara Muscat Hotel 4 2Q17 152 Oman
39 Centara West Bay Residences & Suites Doha Residence 4Q18 265 Qatar
Total managed hotels 3,379
Grand total 7,563
Thank You