Company Presentation November 2012
Anantara Uluwatu, Bali
2
Statements included or incorporated in these materials that use the words "believe", "anticipate", "estimate", "target", or "hope", or
that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as
to future performance or events, are "forward-looking statements" within the meaning are not guarantees of future performance and
involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time
the forward-looking statements are made. MINT undertakes no obligation to publicly update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise. MINT makes no representation whatsoever about the opinion or
statements of any analyst or other third party. MINT does not monitor or control the content of third party opinions or statements and
does not endorse or accept any responsibility for the content or the use of any such opinion or statement.
FORWARD LOOKING STATEMENT Disclaimer
3
AGENDA 9M12 & 3Q12 Results Recap
Appendix
The Path to our 5-Year Aspirations
Anantara Sanya, China
9M12 & 3Q12 Results Recap
4 4 The Coffee Club flagship store in Ekamai, Bangkok
-
2,000
4,000
6,000
8,000
10,000
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Restaurant Hotel & Mixed-Use
Retail Trading Gain on Reclassification
5
3Q12 & 9M12 Results 9M12 REVENUE INCREASE OF 21%
THB million +12% YoY
(Excl S&P Gain)
6,679
MINT REPORTED 9M12 REVENUE INCREASE OF 21% YoY (EXCLUDING ONE-TIME GAIN), ATTRIBUTABLE TO STRONG PERFORMANCE OF HOTEL & MIXED-USE AND RESTAURANT BUSINESSES, FULL OPERATIONS OF ANANTARA KIHAVAH IN THE MALDIVES AND ST. REGIS HOTEL BANGKOK, INCREASED POPULARITY OF ANANTARA VACATION CLUB, TOGETHER WITH CONSOLIDATION OF OAKS.
6,278
8,030
of Investment in S&P
7,345
8,768*
Restaurant 41%
Hotel & Mixed-Use
49%
Retail Trading
10%
7,524
* Note: Revenue of Anantara Vacation Club associated with the inventory unit transfer in 1Q12 of THB 80 million has been adjusted to conform with the figures in this period
-
5,000
10,000
15,000
20,000
25,000
9M11 9M12
24,134
+21% YoY (Excl S&P Gain)
20,987
THB million
Restaurant
Hotel & Mixed-Use
Retail Trading 7,842
6,976
Gain on reclassification of Investment in S&P
19,933
-400
-
400
800
1,200
1,600
2,000
2,400
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Restaurant Hotel & Mixed-Use
Retail Trading Gain on Reclassification
6
9M12 EBITDA INCREASE OF 30%
9M12 EBITDA INCREASED BY 30% YoY (EXCLUDING ONE TIME ITEMS) AS A RESULT OF THE CONTINUED RECOVERY OF EXISTING HOTEL OCCUPANCY AND ADR, THE CONSOLIDATION OF OAKS AND NEW INVESTMENTS AND INITIATIVES, INCLUDING ST. REGIS AND ANANTARA KIHAVAH, TOGETHER WITH ANANTARA VACATION CLUB, STARTING TO BEAR FRUIT THIS YEAR. EBITDA MARGIN IMPROVED AS A RESULT OF OPERATING LEVERAGE OF BOTH HOTEL AND RESTAURANT BUSINESSES.
THB million
22.6% EBITDA Margin
1,506
1,072
+15% YoY (Excl one-
time items)
17.1% 18.5%*
* Excludes gain on reclassification of investments in S&P, netted off with impairment charge of China business
2,254
of Investment in S&P, netted off with impairment charge of China business
1,369
18.6%
2,245
25.6%
Restaurant 33%
Hotel & Mixed-Use
63%
Retail Trading
4%
3Q12 & 9M12 Results
1,311
17.4%
-
1,000
2,000
3,000
4,000
5,000
9M11 9M12
5,042 4,832
+30% YoY (Excl one-
time items)
EBITDA Margin
THB million
19.4%* 20.9%
Restaurant
Hotel & Mixed-Use
Retail Trading
1,486
1,293
18.9%
3,871
* Excludes gain on reclassification of investments in S&P, netted off with impairment charge of China business
Gain on reclassification of Investment in S&P, netted off with impairment charge of China business
-200
-
200
400
600
800
1,000
1,200
1,400
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Restaurant Hotel & Mixed-Use
Retail Trading Gain on Reclassification
7
9M12 NET PROFIT INCREASE OF 54%
THB million
9M12 NET PROFIT ROSE 54% YoY (EXCLUDING ONE TIME ITEMS) AS A RESULT OF IMPROVED PERFORMANCE OF HOTEL & MIXED USE AND RESTAURANT BUSINESSES, TOGETHER WITH THE CONSOLIDATION OF OAKS. THE GROWTH RATE OF NET PROFIT EXCEEDED THAT OF REVENUE DUE TO THE IMPROVED PROFITABILITY OF HOTEL& MIXED-USE AND RESTAURANT BUSINESSES, WITH NET MARGIN EXPANDING TO 9.2% FOR 9M12.
823
12.3% Net Margin
280
4.5% 4.9%*
1,306
+69% YoY (Excl one-
time items)
472
6.4% 14.5%
1,276
Restaurant 39% Hotel &
Mixed-Use 56%
Retail Trading
5%
3Q12 & 9M12 Results
364
4.8%
-
500
1,000
1,500
2,000
2,500
9M11 9M12
Net Margin
9.2% 7.3%*
THB million
+54% YoY (Excl one-time items
2,409 2,225
345
585
7.5%
* Excludes gain on reclassification of investments in S&P, netted off with impairment charge of China business
of Investment in S&P, netted off with impairment charge of China business
1,447
Restaurant
Hotel & Mixed-Use
Retail Trading
Gain on reclassification of Investment in S&P, netted off with impairment charge of China business
* Excludes gain on reclassification of investments in S&P, netted off with impairment charge of China business
The Path to our 5-Year Aspirations
8
MINT: 5-Year Strategy MINT’S FIVE-YEAR STRATEGY 2011-2016
MINT’S FIVE-YEAR STRATEGY WAS FORMULATED MAINLY BASED ON THE FOLLOWING THREE KEY PILLARS, WITH THE SUPPORT OF THE COMPANY’S ROBUST SET OF ORGANIZATIONAL CAPABILITIES, OPERATIONAL EXCELLENCE AND SYNERGY, AS WELL AS LONG-TERM SUSTAINABILITY PROGRAM
Develop a Profitable Portfolio of Own
Brands
Continually Enhance Asset Productivity
Expand Internationally
Through Strategic Investments &
Acquisitions
Franchising Management Contracts
Mixed-Use
ROIC > 15%
NPAT ~15-20% CAGR
GOALS
9
2007 2008 2009 2010 2016F 2011
10
GEOGRAPHICAL DIVERSIFICATION
GEOGRAPHICALLY DIVERSIFY THE GROUP’S REVENUE SOURCE AND REDUCE RISK AND THE VOLATILITY OF CASH FLOW STREAM
Thailand Overseas
2007 2008 2009 2010 2016F 2011
Number of Hotel Rooms
4,114
2,363 2,700
3,553
87% 84% 71% 72%
13% 16% 29% 28%
Thailand Overseas
2007 2008 2009 2010 2016F 2011
Number of Restaurant Outlets
676
1,148 1,043
1,112
7%
33% 34% 34%
93% 67% 66% 66%
36%
64%
25%
75%
1,611 1,236 1,892 1,400
-14%
101% 11% 1%
114%
-1%
89% 99%
50%
50%
Net Profit (THB million)
2,497
2007 2008 2009 2010 2016F 2011
19,089
14,029 16,515 17,244
96% 87% 82% 84%
4% 13% 18% 16% 58%
42%
Revenue (THB million)
9,575
33%
67% 1,257
34%
66%
13,545
27,278*
75%
25%
*Excluding gain from reclassification of S&P investment
1,919*
85%
15%
* Excluding gain from reclassification of investment in S&P and provision for investment in China
MINT: 5-Year Strategy
Hotel: 5-Year Strategy HOTEL GROUP - FIVE-YEAR GROWTH DRIVERS
HOTEL GROUP’S REVENUE AND NET PROFIT GROWTH OVER THE NEXT FIVE YEARS WILL BE DELIVERED THROUGH BUILDING MULTI-BRAND PORTFOLIO WITH THE FOLLOWING GROWTH LEVERS
Other Mixed Use (e.g.
Residential)
2011 2016E
11
Other Hotel Brands
in the Portfolio
Note: Graph is not drawn to scale and not in any prioritized order
12
FINANCIAL PERFORMANCE – HOTEL & MIXED-USE Hotel Updates
Revenue
EBITDA
NPAT
EBITDA Margin
Net Margin
1Q11
THB Million
2,876 2,598
3,308 3,875
4,527
3,480 3,834
975
533 755
1,050
1,559
726 890
33.9%
586
38 101
433
881
90 273
20.4%
9M12 REVENUE AND PROFIT FROM HOTEL & MIXED-USE BUSINESS CONTINUED TO SEE IMPRESSIVE GROWTH YoY WITH IMPROVED MARGINS.
20.5%
1.5%
2Q11
9M12 overall occupancy & ADR of MINT’s hotel portfolio continued to improve significantly YoY, due to the uninterrupted favorable climate , together with MINT’s continued marketing effort, throughout the year;
The new Anantara Kihavah and St. Regis Bangkok, which reported losses during start-up stage, saw considerable increase in occupancy, helping both top line and the profitability of the hotel portfolio;
Consolidation of Oaks’ performance since June 2011 was another main contribution, while post-acquisition plan is on track;
Sales of Anantara Vacation Club is becoming a meaningful contribution to MINT’s real estates business, with the business becoming profitable in 2012;
Even excluding Oaks, performance of MINT’s hotel & mixed use business continued to improve, with 9M12 revenue increase of 14% and EBITDA increase of 22% YoY.
Key Highlights
22.8%
3.0%
3Q11 4Q11
27.1%
11.2%
1Q12
+16% YoY
34.4%
19.5%
8,782
11,841
2,263
3,175
725
1,244
9M11 9M12
20.9%
8.3% 10.5%
+18% YoY
+171% YoY
2.6%
2Q12
+35% YoY
+40% YoY
+72% YoY
25.8% 26.8%
3Q12
23.2%
7.1%
13
MINT CONTINUED TO SEE IMPROVEMENT IN ITS 9M12 ORGANIC OCCUPANCY AND REVPAR YoY, ATTRIBUTABLE TO IMPROVEMENT IN ALL CATEGORIES: THAILAND AND OVERSEAS HOTELS, TOGETHER WITH THE CONSOLIDATION OF OAKS, WHICH COMMANDS RELATIVELY HIGH OCCUPANCY.
MINT’S HOTEL STATISTICS
Revpar ADR % Occupancy
THB
* Note: Hotel Statistics include Oaks Hotel & Resort
No of rooms 4,237 9,593 9,596 9,575 9,707 9,838 10,082 9,838 10,082
6,638
5,112 4,953
5,483
6,039
5,230 5,284
3,981
2,871
3,385 3,737
4,417
3,432 3,553
60%
56%
68% 68%
73%
66% 67%
0%
20%
40%
60%
80%
0
2,000
4,000
6,000
8,000
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Hotel Updates
Revpar Systemwide +5% YoY Organic +7% YoY THB
5,332 5,533
3,351
3,799
63%
69%
0%
20%
40%
60%
80%
0
2,000
4,000
6,000
9M11 9M12
69%
5,285
3,634
Organic stats
Revpar Systemwide +13% YoY Organic +14% YoY
69%
5,534
3,837
New Hotels Opened in 3Q12: Anantara Eastern Mangroves, Abu Dhabi (222 rooms) Anantara Uluwatu, Bali (77 rooms)
DIVERSIFICATION OUTSIDE BANGKOK
WITH ITS EXPANSION OUTSIDE OF THAILAND AS WELL AS INCREASING CONTRIBUTION FROM MIXED USE BUSINESSES, MINT IS LESS DEPENDENT ON ITS BANGKOK HOTEL PORTFOLIO. NEVERTHELESS, DESPITE THE OVERSUPPLY OF HOTELS IN BANGKOK, MINT’S BANGKOK HOTEL PORTFOLIO IS STILL SEEING SIGNIFICANT IMPROVEMENT IN REVPAR OF 25% YoY
14
Hotel Updates
25% 24% 32% 16% 15%
75% 76% 68% 84% 85%
0%
25%
50%
75%
100%
2008 2009 2010 2011 9M12
Outside Bangkok
Bangkok
Number of hotel rooms in Bangkok doubled over the past 5 years
26% 28% 25% 14% 14%
74% 72% 75% 86% 86%
0%
25%
50%
75%
100%
2008 2009 2010 2011 9M12
Other Hotel & Mixed Use
Bangkok
5,097
4,255 3,951
3,542 3,791
3,389
2,394 2,025 1,788
2,340
66%
56%
51% 51%
62%
0%
20%
40%
60%
80%
0
2,000
4,000
6,000
8,000
2008 2009 2010 2011 9M12
0
300
600
900
1,200
1,500
2008 2009 2010 2011 9M12
Managed
Owned
No of rooms
Revpar ADR % Occupancy
769 864
1,300
1,518 1,518
However, the contribution in terms of number of rooms in Bangkok significantly declined as the expansion is faster outside of Bangkok
Despite the oversupply of hotels in Bangkok, MINT’s Bangkok hotel portfolio improves significantly, with 9M12 revpar increase of 25% YoY
The revenue contribution also significantly declined over the five years, in line with the contribution from number of rooms
Oaks’ Expansion Track Record Post-Acquisition
OAKS CONTINUES TO BE AN IMPORTANT DRIVER
WITH SUCCESSFUL POST-ACQUISITION STRATEGY, OAKS’ ORGANIC PERFORMANCE CONTINUED TO EXPAND. MOREOVER, WITH THE ADDITIONAL CREDIT LINE, OAKS IS SET FOR NEW MLR ACQUISITIONS. WITH ITS SIGNIFICANT CONTRIBUTION TO THE HOTEL & MIXED-USE BUSINESS, OAKS IS ONE OF THE IMPORTANT GROWTH DRIVERS FOR MINT GOING FORWARD.
15
• Announced acquisition of Grand Hotel in Gladstone. The property, which currently has a restaurant, pub and casino, will be converted into a 140-room hotel (to be completed by 2013), together with the Coffee Club and Ribs and Rumps
Hotel Updates
• Acquired additional MLR contracts in Australia: Broome (140 rooms) and Monkomo (56 rooms) in 1Q12
• Acquired 25% of Tidal Swell, the owner of four properties currently managed by Oaks
• Invested 100% stake in Oasis Resort Caloundra, comprising 158 hotel rooms and 9 apartments, together with MLR in Sunshine Coast
OAKS’ CONTRIBUTION TO MINT’S HOTEL & MIXED-USE BUSINESS IS QUITE SIGNIFICANT
0%
25%
50%
75%
100%
2011 9M12
Others
Oaks
OAKS’ REVENUE CONTRIBUTION TO TOTAL HOTEL
& MIXED-USE
OAKS’ EBITDA CONTRIBUTION TO TOTAL HOTEL
& MIXED-USE 23%
77%
32%
68%
0%
25%
50%
75%
100%
2011 9M12
Others
Oaks
23%
77%
32%
68%
• First move into Asia through management contract of Oaks Bangkok Sathorn for 115 rooms (previously part of Anantara Sathorn)
• Signed a management contract to manage a 120-room property in Sanya, China under Oaks brand
16
EXPANSION INTO MARKETS INSIDE AND OUTSIDE THAILAND WILL CONTRIBUTE WELL TO REVENUE & PROFIT IN COMING YEARS.
MINT’S HOTEL EXPANSION PLANS
Investment Hotel
2013
10 Hotels / 849 Rooms
• Xishuangbanna, China (103
Rooms)
• Sanya, China (122 Rooms)
• Uluwatu, Bali (77 Rooms)
• Eastern Mangroves, UAE
(222 Rooms)
• Luang Prabang, Laos (115 Rooms)
• Al Akhdar, Oman (123 Rooms)
• Al Madina, Oman (120 Rooms)
• Mahabalipuram, India (130 Rooms)
• Udaipur, India (70 Rooms)
• Qiandao Lake, China (120 Rooms)
22 Hotels & Properties / 2,714 Rooms
Management Contract
2012
2014
Total
• Masai Mara Camp,
Kenya (16 Rooms)
• Amboseli Camp,
Kenya (16 Rooms)
• Grand Hotel,
Gladstone
Australia
(96 Rooms)
• Phuket -
Bundarika
(77 Rooms)
• Sri Lanka
(141 Rooms)
• Al Yamm, UAE (30 Rooms)
• Al Sahael, UAE (30 Rooms)
• Chengdu, China (150 Rooms)
• Chongqing, China (150 Rooms)
• Baoting, China (130 Rooms)
• Salalah, Oman (136 Rooms)
• Broome, Australia
(140 Rooms)
• Monkomo,
Queensland
Australia
(56 Rooms)
• Bangkok
(249 Rooms)
Hotel Updates
2015
• Ambalangoda,
Sri Lanka
(60 Rooms)
• Serengeti, Tanzania
(20 Rooms)
• Meru, Kenya
(16 Rooms)
• Sepang, Malaysia
(315 Rooms)
• Sanya, China
(120 Rooms)
• La Chaland, Mauritius (160 Rooms)
• Wayanad, India (95 Rooms)
• Oasis Resort,
Caloundra,
Queensland,
Australia
(158 Rooms)
MINT’S COMPOSITION OF HOTEL ROOMS ARE EXPECTED TO CHANGE OVER THE NEXT FIVE YEARS. MINT WILL FOCUS ON THE EXPANSION OF OUR OWN BRANDS, ANANTARA, OAKS AND AVANI, MORE EXPONENTIALLY THROUGH ASSET LIGHT MODEL (MANAGEMENT CONTRACTS), WITH GEOGRAPHICAL FOCUS OUTSIDE OF THAILAND.
MINT’S HOTEL PORTFOLIO
No of Rooms
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2005 3Q12 2016F
Others, including Oaks
Avani Anantara
Four Seasons Marriott
2,169
13,545
55% 6% 4%
20%
26%
4%
19%
53%
34%
6%
8% 46%
6%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2005 3Q12 2016F
Managed
Joint Venture
Own Equity
92% 24% 23%
8% 7%
6%
69% 71%
2,169
No of Rooms
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
2005 3Q12 2016F
International
Outside Bangkok
Bangkok
No of Rooms
36% 15% 13%
56%
15% 12% 8%
70% 75%
2,169
By Location By Ownership By Brand
17
5%
10,082
6%
2%
Hotel Updates
13,545
10,082
13,545
10,082
ANANTARA VACATION CLUB – STRONG BUSINESS MODEL ANANTARA VACATION CLUB’S SOLID BUSINESS MODEL WILL NOT ONLY DRIVE REVENUE AND EARNINGS OF ITSELF BUT WILL ALSO ENHANCE VALUE PROPOSITION OF THE HOTEL GROUP AS A WHOLE. THE SYNERGISTIC BENEFITS OBTAINED ARE EXPECTED TO BE MUCH GREATER THAN SUM OF THE PARTS
Experienced Management
Strong “Anantara”
Brand
Affordability for Consumers
vs. Pure Property Project
Synergistic Opportunities with MINT’s Hospitality Business
Return Enhancement
Thailand
New Zealand
Bali
Sri Lanka
Middle East
Australia
China
Mauritius
Maldives
South Africa
Expansion of Footprint Alongside Anantara Hotels to Help Enhance Value Proposition of the Group as a Whole
Key Success Factors To Contribute to Revenue and Earnings Growth
18
Mixed Use Update
Mixed Use Update ANANTARA VACATION CLUB – STRONGER MOMENTUM EXPECTED IN 2012-16
SALES OF AVC CONTINUED TO GROW REMARKABLY IN 9M12, AND THE STRONG MOMENTUM IS EXPECTED TO CONTINUE IN THE REMAINDER OF 2012 AND BEYOND, AS MORE INVENTORIES ARE ADDED AND EFFECTIVE MARKETING EFFORTS FOCUSED ON TARGET MARKETS ARE IMPLEMENTED. SALES ARE EXPECTED TO CONTINUE RISING SIGNIFICANTLY WITH BOTTOM LINE STARTING TO CONTRIBUTE STRONGLY TO THE GROUP’S PROFITABILITY IN 2013
THB Million
Quarterly sales showed improving momentum
2011 2012E 2013E 2014E 2015E 2011
Annual sales growth is expected to pick up exponentially as more inventories in various destinations are coming on stream
Thailand, 22%
Singapore, 19%
Hong Kong, 12%
Malaysia, 12%
China, 7%
Australia,
Japan, 3% UAE, 2%
Others, 19%
AVC Members
19
80
130
180
230
280
330
380
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Note: As at 30 Sept 2012
22 27 46 46
360
0
100
200
300
400
4Q10 1Q12 2Q12 3Q12 2016E
Samui Phuket
Samui Phuket
Queenstown
10 Destinations
100 villas being built in
Phuket
No of Units
Inventories is expected to be added with over 10 destinations over the next five years
Bangkok Samui Phuket
Bali Queenstown
4%
20
RESIDENTIAL PROPERTY DEVELOPMENT LEVERAGING ON HOTEL BRANDS
2006 2007 2008 2009 2010 2011 9M12 2012 2012 2012-13 St. Regis
Sold Pending Transfer
St. Regis Potential; Deposit
Collected
Remaining Inventory
Sold Inventory Sold Inventory
SALES OF ST. REGIS AND THE ESTATES SAMUI ARE EXPECTED TO CONTINUE THEIR IMPETUS IN 2012-13. NEXT PROJECT WILL BE ANANTARA RESIDENCES PHUKET, WHICH IS EXPECTED TO SEE SELLING ACTIVITIES STARTING IN 2014. THE NEW PROJECT WILL ALSO LEVERAGE ON STRONG HOTEL BRANDS IN THE PORTFOLIO.
Anantara Residences Phuket will be the next
project, with sales
expecting to start in 2014
Mixed Use Update
ANANTARA RESIDENCES PHUKET MINT IS LAUNCHING ITS VERY FIRST FLAGSHIP ANANTARA RESIDENCES PROJECT ON LAYAN BEACH, PHUKET. THE PROJECT MARKS ANOTHER MILESTONE IN LEVERAGING ON MINT’S OWN ANANTARA BRAND.
Mixed Use Update
• Anantara Residences Phuket Project Name
• 2H13, concurrent with the new Anantara Phuket Hotel
Expected Launch Date
• 17-20 villas on 32 rais of land Project Size
• 2-5 bedroom pool villas, with approximate size ranging from 580 – 1,100 sq.m.
Project Details
The property is strategically located between the airport (15 minutes by car) and Phuket’s main shopping, dining,
entertainment and activity centers in the nearby Bang Tao, Kamala and Patong areas. It is naturally secluded, offering
privacy and exclusivity, with its own private bay.
21
Restaurant: 5-Year Strategy RESTAURANT - FIVE-YEAR GROWTH DRIVERS
RESTAURANT BUSINESS’ REVENUE AND NET PROFIT GROWTH OVER THE NEXT FIVE YEARS WILL BE DELIVERED THROUGH EXPANDING BUSINESS INSIDE AND OUTSIDE THAILAND, LEVERAGING EXISTING MULTIPLE BRANDS IN THE PORTFOLIO AND LOOKING OUT FOR ACQUISITION OPPORTUNITY
Strategic Acquisition
2011 2016E
Thailand Business
International Franchise
Internationalize
Transform China
22 Note: Graph is not drawn to scale and not in any prioritized order
23
9M12 PERFORMANCE OF THE RESTAURANT BUSINESS CONTINUED TO EXHIBIT STRONG AND STABLE GROWTH, WITH REVENUE GROWTH OF 12% AND NET PROFIT GROWTH OF 34% YoY
FINANCIAL PERFORMANCE - RESTAURANT
Revenue
EBITDA
NPAT
EBITDA Margin
Net Margin
1Q11
THB million
2,963 2,901 2,880 2,954
3,451
3,237 3,097
467 483 481 492 583
549 515
15.8%
205 218 224 225
319 273 276
6.9%
Key Highlights
Most brands continued to exhibit strong and positive same store sales growth in 9M12, from increases in both revenue per customer and customer count. The increase were mainly due to a combination of robust domestic consumption and successful marketing strategies;
Same store sales growth, together with outlet expansion, translated into strong total system sales growth of 16.4% in 9M12;
The full consolidation of Thai Express’ performance in 9M12, together with the 31% share of profit in S&P Syndicate, helped improve the restaurant business’s margin;
EBITDA & net profit margin expanded despite the minimum wage increase which was implemented since October 2011, attributable to improved cost structure and operating leverage.
Restaurant Update
16.6%
2Q11
7.5%
16.7%
3Q11*
7.8%
4Q11
16.6%
7.6%
1Q12
9.2%
+12% YoY
+15% YoY
+34% YoY
16.9%
8,744 9,786
1,431 1,646
646
868
+8% YoY
+7% YoY
+24% YoY
17.0%
2Q12
8.4%
16.4% 16.8%
9M11*
7.4%
9M12
8.9%
16.6%
3Q12
8.9%
*Note: Excluding gain on reclassification of Investment in S&P, netted off with impairment charge of China business
24
MINT CONTINUED TO SEE SOLID GROWTH FOR SAME STORE SALES AND TOTAL SYSTEM SALES ACROSS MOST BRANDS IN 9M12. MINT EXPECTS TO DOUBLE ITS NUMBER OF OUTLETS, BOTH THROUGH FRANCHISED AND EQUITY-OWNED MODEL, AND BOTH DOMESTICALLY AND OVERSEAS IN FIVE YEARS. THE PROPORTION OF OVERSEAS OUTLETS IS EXPECTED TO INCREASE TO MORE THAN 35% OVER THE NEXT FIVE YEARS
MINT’S BRAND PERFORMANCE
Same Store Sales Growth Total System Sales Growth
Overall SSS & TSS
No. of Outlets
1,157 1,169 1,204
7.8%
12.3%
9.8%
6.5% 7.6%
6.5%
3.3%
11.9%
17.4%
14.4%
12.7%
16.0%
13.6% 12.5%
0%
5%
10%
15%
20%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
1,257 1,264
Restaurant Update
1,274
33%
67%
34%
66% 7%
93%
36%
64%
2005 2016F
558
2,497
Restaurant Outlets Breakdown by Geography
43%
57% 14% 86%
46%
54%
1,304
558
2,497
Restaurant Outlets Breakdown by Ownership
International
Thailand
Franchised
Owned
2011
2005 2016F 2011
1,257
3Q12
1,257
44%
56%
3Q12
1,304
1,304
25
OVER THE PAST FIVE YEARS, FOOD AND PAPER COSTS AS A PERCENTAGE OF SALES CONTINUED TO TREND DOWN AS A RESULT OF CONTINUED EFFECTIVE COST MANAGEMENT PROGRAM.
EFFECTIVE MANAGEMENT OF FOOD COSTS
31%
32%
33%
34%
35%
36%
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
% of Food & Paper Costs to Sales
Fixed Long-Term Contract
Prices
Menu-Mix Re-Engineering
Supply Chain Management
Maximization of FTA Benefit
Pro-Active Inventory
Management
Strategy
Note: Food and paper costs as a percentage of sales rose in first quarter of every year as a result of “Buy-one-get-one-free” promotional campaign launched in March of every year to celebrate the anniversary of The Pizza Company
Restaurant Update
1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
CHINA – IMPROVEMENT SEEN; MORE INITIATIVES TO EXPEDITE TURN-AROUND
ALTHOUGH SAME STORE SALES SOFTENED IN 3Q12, IN LINE WITH THE ECONOMIC ENVIRONMENT, TOGETHER WITH RATIONALIZATION OF THE PIZZA COMPANY, CHINA OPERATION HAS SEEN IMPROVEMENT OVER THE PAST FEW YEARS WITH IMPROVING PERFORMANCE AND PROFITABILITY AT STORE CONTRIBUTION LEVEL. MINOR FOOD GROUP, CHINA CONTINUES TO PUT EFFORT IN TURNING AROUND THE CHINA BUSINESS.
Same-Store-Sales Growth of Restaurants in China vs. China Consumer Confidence Index
Focus on growing Sizzler Cautious expansion of Thai Express & The Coffee Club
Active search for acquisitions
85
90
95
100
105
110
115
-25%
-15%
-5%
5%
15%
25%
Jan
-06
Mar
-06
May
-06
Jul-
06
Sep
-06
No
v-0
6
Jan
-07
Mar
-07
May
-07
Jul-
07
Sep
-07
No
v-0
7
Jan
-08
Mar
-08
May
-08
Jul-
08
Sep
-08
No
v-0
8
Jan
-09
Mar
-09
May
-09
Jul-
09
Sep
-09
No
v-0
9
Jan
-10
Mar
-10
May
-10
Jul-
10
Sep
-10
No
v-1
0
Jan
-11
Mar
-11
May
-11
Jul-
11
Sep
-11
No
v-1
1
Jan
-12
Mar
-12
May
-12
Jul-
12
Sep
-12
26
Restaurant Update
SSS Growth China CCI
Rationalization of The Pizza Company
Source: National Bureau of Statistics of China
China Profit at Store Contribution Level – An Improving Trend
China Consumer Confidence Index
China Same Store Sales Growth
27
Retail Trading Update
9M12 REVENUE OF RETAIL TRADING & CONTRACT MANUFACTURING INCREASED BY 4% PRIMARILY AS A RESULT OF EXPANSION OF KEY FASHION BRANDS, TOGETHER WITH INSURANCE CLAIMS FROM FLOOD RECEIVED IN 1Q12 AND 3Q12. AS A RESULT, EBITDA AND NET PROFIT SAW SIGNIFICANT INCREASES OF 25% AND 48% RESPECTIVELY.
FINANCIAL PERFORMANCE – RETAIL TRADING & CONTRACT MANUFACTURING
Revenue
EBITDA
NPAT
EBITDA Margin
Net Margin
1Q11
THB million 840
779 789
516
789 807 911
64 57 56
-173
103
36 81
7.6%
32 23 21
-186
76
1 36
3.8%
Key Highlights
7.3%
2Q11
3.0%
13.1%
9.6%
7.2%
2.6%
3Q11
9M12 revenue from retail trading increased by 14% YoY, primarily from the expansion of points of sale of the key fashion brands, although the number of cosmetic points of sale declined. However, margins are still under pressure as inventories were sold at a discount to clear the inventory backlog;
9M12 revenue from contract manufacturing declined by 10% YoY, despite partial recovery of insurance claim in 1Q12 and 3Q12, as the NMT factory only resumed its full operations in June 2012;
As a result of the insurance claims, retail trading & contract manufacturing business saw an expansion of EBITDA and net profit margins in 9M12;
-33.5%
4Q11
-36.2%
1Q12
+4% YoY
+25% YoY
+48% YoY
2,407 2,507
177 221
76 113
+16% YoY
+44% YoY
+72% YoY
4.5%
0.2%
2Q12
7.4% 8.8%
3.2%
9M11
4.5%
9M12
8.9%
3.9%
3Q12
28
TOTAL STORE SALES GROWTH INCREASED BY 16% IN 3Q12, DESPITE THE CLOSURE OF 10 POINTS OF SALES, OF WHICH WERE MAINLY UNDER SMASHBOX BRAND. COMPARABLE SALES CONTINUED TO SHOW NEGATIVE GROWTH, AS INVENTORIES WERE SOLD AT A DISCOUNT IN ORDER TO CLEAR INVENTORY BACKLOG SINCE THE FLOODS IN 4Q11. IN ANY CASE, SALES PER SQ.M. IS NOW SEEING AN INCREASING TREND, AS EFFICIENCY STARTED TO IMPROVE.
MINT’S RETAIL TRADING STATISTICS Retail Trading Update
Comparable Sales Growth Total Store Sales Growth
231 No. of Outlets
226 231 No. of Outlets
226
Fashion & Cosmetic Sales per Sq.m.
239 239
THB
246 246
17.2%
52.8%
29.4%
-11.5%
-6.8% -4.4%
-10.1%
21.0%
43.0%
26.0%
-4.0%
5.0%
23.0%
16.3%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
29,984
27,389
24,642 23,386
26,316 25,067
27,155
10,000
20,000
30,000
40,000
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
240 240 247 247 237 237
-
2.0
4.0
6.0
8.0
-
2,000
4,000
6,000
8,000
10,000
2011 2012F 2013F 2014F 2015F 2016F
29
FINANCING CAPEX WITH FINANCIAL DISCIPLINE
DISCIPLINED ACQUISITION(S) ON THE BACK OF STRINGENT INVESTMENT POLICY PROVIDES UPSIDE FOR GROWTH
Committed CAPEX & Amount Set Aside for New Acquisition(s)
• Revenue % of Group Revenue • Profit % of Group Profit
• IRR (WACC + Premium)
• ROIC in % within Certain Year
• Profit Break-Even Point • Cash Flow Break-Even Point
• Payback Period
• Credit Ratios
• Brand Strength
• Quality of Management
• Potential to Expand Locally & Internationally
• Controlling Stake
Balance Sheet Strength
Minimum Size
Minimum Return
Performance
Strategic Position
Investment Criteria – Sample Measurement & Metrics
• Cash Flow % of Group Cash Flow
CAPEX
X THB million
Additional CAPEX (non-committed average per annum) for New Opportunity/Acquisition(s)
Restaurant Hotel & Mixed-use Retail trading
EBITDA coverage on committed CAPEX
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
0
10,000
20,000
30,000
40,000
Outstanding Borrowing & Equity
Un-Utilized Facility
BALANCE SHEET STRENGTH
LEVERAGE & COST OF CREDITS ARE UNDER CONTROL WHILE BACK-UP FUNDING FACILITIES HAVE BEEN SECURED. IN ADDITION, MINT HAS MAINTAINED INVESTMENT GRADE CREDIT RATING OF “A” BY TRIS
Interest Bearing Debt to Equity
Net Interest Bearing Debt to Equity
Borrowing Cost
Internal Policy
Debt Debt
Shareholders’ Equity
Equity*
30 * Incremental capital increase from MINT W-4 exercise, assuming 100% MINT-W4 Conversion
Leverage Ratios
Borrowing Structure Back-up Financing THB million
X
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12
MINT's Effective Interest Rate MLR
84% 64% 65% 71% 72% 66% 73%
16% 36% 35% 29% 28% 34% 27%
0%
20%
40%
60%
80%
100%
1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Floating Rate Fixed Rate
Financial Discipline
Interest Bearing Debt to Net Replacement Value
31
GROWTH OF ALL BUSINESS UNITS ARE ON TRACK 5-Year Targets
22 hotels
676 restaurants
316 retail stores (14,524 Sqm)
2007
9M12
2016F
80 hotels
67 residences
46 timeshare units
1,304 restaurants
237 retail stores (19,815 Sqm)
> 140 hotels
+ residences
> 400 timeshare units
> 2,400 restaurants
> 270 retail stores (23,877 Sqm)
2007
9M12
2016F
32
Appendix
33
RESTAURANT PERFORMANCE – 3Q12
Brand SSS (%) TSS (%)
3Q12 3Q11 3Q12 3Q11
The Pizza Company 2.8% 14.7% 11.3% 17.5%
Swensen’s -0.6% 9.4% 6.5% 19.0%
Sizzler 4.3% 10.5% 2.5% 13.2%
Dairy Queen 10.9% 25.4% 22.0% 33.5%
Burger King 7.1% 31.0% 7.1% 23.5%
The Coffee Club 3.4% 6.5% 9.7% 13.9%
Ribs & Rumps 0.7% N/A N/A N/A
Thai Express 1.9% -1.8% 8.5% -2.6%
Average 3.3% 9.9% 12.5% 14.4%
Average Thailand 3.4% 16.1% 9.5% 21.3%
34
RESTAURANT PERFORMANCE – 9M12
Brand SSS (%) TSS (%)
9M12 9M11 9M12 9M11
The Pizza Company 8.2% 11.8% 18.2% 14.7%
Swensen’s 9.6% 4.9% 17.8% 12.8%
Sizzler 3.5% 14.3% 5.2% 16.6%
Dairy Queen 20.7% 15.3% 31.2% 21.3%
Burger King 7.6% 23.5% 8.0% 20.8%
The Coffee Club 3.4% 10.0% 10.9% 16.5%
Ribs & Rumps N/A N/A N/A N/A
Thai Express -1.3% -0.9% 5.6% 1.4%
Average 5.8% 9.9% 16.4% 14.5%
Average Thailand 9.0% 12.6% 16.6% 17.5%
35
RESTAURANT OUTLETS – 3Q12
Brand No. of outlets No. of outlets
Total Equity Franchise Thailand International
The Pizza Company 198 88 248 38 286
Swensen’s 121 151 252 20 272
Sizzler 44 - 39 5 44
Dairy Queen 234 48 282 - 282
Burger King 27 - 27 - 27
The Coffee Club 33 278 7 304 311
Thai Express 54 13 - 67 67
Others 15 - 15 - 15
Total 726 578 870 434 1,304
267 562 487
683 751 1,097
1,097
46
55
(131)
61
1,054
1,054 1,054
4.8%
19.0% 20.8% 22.9%
26.3%
31.3% 31.3%
-10%
0%
10%
20%
30%
40%
-500
0
500
1,000
1,500
2,000
2,500
3,000
2006 2007 2008 2009 2010 2011 3Q12
Investment Cost
Unrealized gain (loss)
Gain from investment reclassification
% shareholding
36
S&P OPERATES A CHAIN OF RESTAURANTS AND BAKERY SHOPS WITH OVER 350 OUTLETS IN 7 COUNTRIES PRODUCING AND DISTRIBUTING FOOD AND BAKERY PRODUCTS UNDER THE S&P BRAND. FROM 3Q11 ONWARDS, S&P’S PERFORMANCE WILL BE RECOGNIZED THROUGH EQUITY ACCOUNTING METHOD. 9M12 REVENUES INCREASED AS A RESULT OF BOTH DOMESTIC AND INTERNATIONAL EXPANSION, WHILE MARGINS IMPROVED BECAUSE OF INCREASE IN RETAIL PRICE, EFFICIENT PROCUREMENT AND LOWER MARKETING EXPENSES
CONTINUED & STRENGTHENING PARTNERSHIP WITH S&P
Shareholding Structure
MINT’s Investment in S&P
THB million
313
617 744
1,805
Revenue
EBITDA
NPAT
EBITDA Margin
Net Margin
THB million
Restaurant Update
2,151
356 617
2010 2008 2009
4,437 4,764 5,282
5,879
583 677 812
963
13.1% 14.2% 15.3%
225 293
384 454
5.1% 6.2% 7.2%
16.3%
7.7%
2011
39% 39%
26% 31%
35% 30%
0%
20%
40%
60%
80%
100%
Pre-Tender Offer Post-Tender Offer
Others
MINT
Sila-on & Riva Families
5%
+11% YoY
+19% YoY
+18% YoY
+10% YoY
+32% YoY
+78% YoY
4,277 4,704
657
866
292
520
9M11 9M12
18.4%
11.1%
15.4%
6.8%
2,151
37
HOTEL PERFORMANCE – 3Q12
Hotel ARR (Bt/night)
3Q12 3Q11 Chg 3Q12 3Q11 %Chg 3Q12 3Q11 Chg
Marriott 75% 63% 12% 3,285 2,994 10% 2,452 1,876 31%
Anantara 53% 57% -4% 5,348 5,445 -2% 2,833 3,106 -9%
Four Seasons 61% 52% 9% 7,658 7,450 3% 4,656 3,837 21%
Oaks 76% 80% -4% 5,249 5,059 4% 3,982 4,023 -1%
Other 50% 40% 10% 6,116 4,636 32% 3,086 1,870 65%
Average
(incl. Oaks) 67% 68% -1% 5,284 4,953 7% 3,553 3,385 5%
Average
(excl. Oaks) 57% 56% 1% 5,341 4,789 12% 3,036 2,684 13%
Avg - Thailand 64% 58% 6% 4,389 3,974 10% 2,797 2,287 22%
Avg - Overseas
(incl. Oaks) 69% 75% -6% 5,695 5,394 6% 3,927 4,027 -2%
Avg - Overseas
(excl. Oaks) 38% 51% -13% 9,669 7,944 22% 3,684 4,043 -9%
Occupancy (%) RevPar (Bt/night)
Systemwide
Organic Hotel ARR (Bt/night)
3Q12 3Q11 Chg 3Q12 3Q11 %Chg 3Q12 3Q11 Chg
Marriott 75% 63% 12% 3,285 2,994 10% 2,452 1,876 31%
Anantara 57% 57% 0% 5,351 5,445 -2% 3,055 3,106 -2%
Four Seasons 61% 52% 9% 7,658 7,450 3% 4,656 3,837 21%
Oaks 76% 80% -4% 5,249 5,059 4% 3,982 4,023 -1%
Other 50% 40% 10% 6,116 4,636 32% 3,086 1,870 65%
Average
(incl. Oaks) 69% 68% 0% 5,285 4,953 7% 3,634 3,385 7%
Average
(excl. Oaks) 60% 56% 4% 5,343 4,789 12% 3,186 2,684 19%
Avg - Thailand 64% 58% 6% 4,389 3,974 10% 2,797 2,287 22%
Avg - Overseas
(incl. Oaks) 71% 75% -3% 5,700 5,394 6% 4,069 4,027 1%
Avg - Overseas
(excl. Oaks) 45% 51% -6% 10,249 7,944 29% 4,588 4,043 13%
Occupancy (%) RevPar (Bt/night)
38
HOTEL PERFORMANCE – 9M12
Systemwide
Organic
Hotel ARR (Bt/night)
9M12 9M11 Chg 9M12 9M11 %Chg 9M12 9M11 Chg
Marriott 73% 68% 6% 3,954 3,548 11% 2,901 2,407 21%
Anantara 56% 49% 7% 6,416 6,643 -3% 3,600 3,275 10%
Four Seasons 61% 53% 9% 8,216 8,307 -1% 5,021 4,368 15%
Oaks 77% 78% -2% 5,161 5,053 2% 3,955 3,965 0%
Other 53% 45% 8% 6,128 4,763 29% 3,244 2,132 52%
Average
(incl. Oaks) 69% 63% 6% 5,533 5,332 4% 3,799 3,351 13%
Average
(excl. Oaks) 59% 55% 4% 6,083 5,532 10% 3,619 3,043 19%
Avg - Thailand 63% 56% 7% 4,741 4,584 3% 2,996 2,568 17%
Avg - Overseas
(incl. Oaks) 72% 70% 1% 5,915 5,973 -1% 4,239 4,191 1%
Avg - Overseas
(excl. Oaks) 48% 51% -4% 11,726 9,148 28% 5,602 4,702 19%
Occupancy (%) RevPar (Bt/night)
Hotel ARR (Bt/night)
9M12 9M11 Chg 9M12 9M11 %Chg 9M12 9M11 Chg
Marriott 73% 68% 6% 3,954 3,548 11% 2,901 2,407 21%
Anantara 58% 49% 9% 6,431 6,643 -3% 3,733 3,275 14%
Four Seasons 61% 53% 9% 8,216 8,307 -1% 5,021 4,368 15%
Oaks 77% 78% -2% 5,161 5,053 2% 3,955 3,965 0%
Other 53% 45% 8% 6,128 4,763 29% 3,244 2,132 52%
Average
(incl. Oaks) 69% 63% 6% 5,534 5,332 4% 3,837 3,351 14%
Average
(excl. Oaks) 61% 55% 6% 6,089 5,532 10% 3,697 3,043 21%
Avg - Thailand 63% 56% 7% 4,741 4,584 3% 2,996 2,568 17%
Avg - Overseas
(incl. Oaks) 73% 70% 3% 5,918 5,973 -1% 4,306 4,191 3%
Avg - Overseas
(excl. Oaks) 52% 51% 0% 11,970 9,148 31% 6,208 4,702 32%
Occupancy (%) RevPar (Bt/night)
Thailand, 11%
East Asia, 30%
Europe, 30%
The Americas,
10%
South Asia, 3%
Oceania, 5%
Middle East, 7%
Africa & Others, 2%
0
400,000
800,000
1,200,000
1,600,000
2,000,000
China Japan Korea Russia India
9M11 9M12
0
50,000
100,000
150,000
200,000
250,000
Thailand East Asia Europe The Americas South Asia Oceania Middle East Africa & Others
9M11 9M12
MINT’S FEEDER MARKETS
Number of Room Nights
MINT’s 9M12 Feeder Markets Thailand’s Top 5 Feeder Markets Number of
Tourists
MINT’s 1H12 Feeder Markets
* Note: MINT’s feeder market excludes Oaks’
39
Hotel Updates
9%
22% 10%
10%
16% 26%
MINT’s 9M12 Feeder Markets
53%
20%
MINT CONTINUES TO SEE IMPROVEMENTS ACROSS ALL OF ITS FEEDER MARKETS, WITH A 16% YoY INCREASE IN 9M12 OVERALL ROOMNIGHTS COMPARED TO INCREASE IN THAILAND’S TOURIST ARRIVALS OF 8% YoY.
China +13% Hong Kong +15%
Japan +25% Singapore +38%
Korea +9%
UK +3% Germany +13%
Russia +20%
Australia +22%
India +18%
36%
11% 7% 14% 6%
40
THAILAND HAS BEEN RESILIENT TO SEVERAL GLOBAL CRISIS OVER THE YEARS, AS EVIDENCED BY THE INCREASED EUROPEAN ARRIVALS. THAILAND HOTEL RATES REMAIN COMPETITIVE COMPARED TO THE REGION.
EUROPE & US TOURISTS Hotel Updates
* Note: Rate of one night at Four Seasons on Sept 1, 2011 for a standard room
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Europe US
0
100
200
300
400
500
600
Hong Kong Tokyo Singapore Mumbai Sydney Shanghai Bangkok Jakarta
Number of Tourists
USD / Night
Dot com bubble
911 SARS Tsunami London bomb
Bangkok Coup
Bird Flu
Airport Closure
Pattaya Riot
Ratchprasong Riot
Financial Crisis
Number of tourists from Europe still held up
during the crisis
Thailand hotel rates remain competitive in
the region
HOTEL INDUSTRY OUTLOOK IS EXPECTED TO GRADUALLY RECOVER ON THE BACK OF INCREASING TOURIST ARRIVAL.
Million Tourists Arrival to Thailand – Yearly Trend
Source: Tourism Authority of Thailand and Bank of Thailand
TOURIST ARRIVAL TO THAILAND
Million Tourist Arrival to Thailand – Monthly Trend
41
-10%
0%
10%
20%
30%
0
5
10
15
20
25
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012F 2013F
Tourist Arrival % Change
-40%
-20%
0%
20%
40%
60%
80%
0.0
0.5
1.0
1.5
2.0
2.5
Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Mar-12 May-12 12-Jul 12-Sep
Hotel Updates
Hotel Updates
BANGKOK HAS SEEN NEW SUPPLY IN RECENT YEARS AND WILL SEE MORE ESPECIALLY IN 2012
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Number of Rooms
Source: HVS Reseach
2011A No. of Rooms
The Regent Bangkok
Sofitel Bangkok, Sukhumvit 13
Crowne Plaza Sukhumvit
Hotel Okura Bangkok
W Hotel Bangkok
Hilton Sukhumvit Bangkok
DoubleTree by Hilton, Sukhumvit Bangkok
327
345
342
242
403
287
182
2012F
Aloft Bangkok Sukhumvit 11
Park Plaza Bangkok Asoke
Four Points by Sheraton, Sukhumvit
St Regis Bangkok
297
120
436
227
The Langham Sukhumvit Bangkok
230
No. of Rooms
LUXURY HOTEL SUPPLY IN BANGKOK
2013F
42
INTRODUCING THE NEW “AVANI” BRAND
“Avani Bentota Resort & Spa”, Sri Lanka, was a rebrand of “Serendib”. The resort is located some 64km south of the capital Colombo
“Avani Kalutara Resort”, Sri Lanka, was a rebrand of “Kani Lanka”. The hotel is at the tip of the Kalu Ganga river mouth in Kalutara with 105 rooms
MINT expects to grow Avani beyond Sri Lanka and Bangkok with an aim of having approximately 6 Avani hotels in the next five years
MINT ANNOUNCED THE LAUNCH OF THE AVANI BRAND, WHICH WILL HELP THE COMPANY PENETRATE INTO ANOTHER MARKET SEGMENT, IN ADDITION TO THE EXISTING FIVE-STAR “ANANTARA” BRAND
Avani in Bangkok will be a part of the extension of Anantara Bangkok Riverside Resort & Spa
Avani Kalutara, Sri Lanka
43
2011
2014
2011-2016
Hotel Updates
44
OAKS IS ONE OF AUSTRALIA’S LARGEST HOTEL AND RESORT OPERATORS Hotel Updates
Serviced Suites Brand Positioning Matrix Major Australian Serviced Suites Operators OAKS SERVICES THE SHORT-TO-MEDIUM STAY CORPORATE AND LEISURE MARKETS.
Source: CBRE Hotels
As of August 2009, based on number of rooms
Revenue Contribution
Source: CBRE Hotels
Customer Mix of Major Australian Serviced Suites Operators
Letting fees 37%
Service charges
39%
Ancillary guest services
8%
Other sale revenue
16%
Source: Oaks’ financial statements; info as at FY2011 (ending June 2011)
International
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