Central Plaza Public Company Limitedcentel.listedcompany.com/misc/PRESN/20130314-CENTEL-oppDay4… · Bangkok, Phuket and Hua Hin, and growth in ARR for property in Pattaya and Centara

Opportunity Day Presentation 4Q12 Central Plaza Hotel Public Company Limited

March 14, 2013

Disclaimer

CENTEL's Opportunity Day 4Q12 2

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.

Agenda


o 4Q12 Financial Summary

o Performance by Business

o Hotel Business

o QSR Business

o Medium Term Outlook

4Q12 Financial Summary


Centara Hotel and Convention Centre Khaonkaen

Centara Paste Lafayette Resort & Spa, Maldives

THB million 4Q11 4Q12 % chg FY11 FY12 % chg

Hotel revenue 1,165 1,829 57.0 4,904 6,473 32.0

Food Revenue 1,859 2,247 20.9 6,551 8,356 27.6

Total Revenues 3,024 4,076 34.8 11,455 14,829 29.5

Total Cost & Expense (Excl depreciation) 2,485 3,283 32.2 9,184 11,725 27.7

Equity Gain (Loss) 36 28 -22.5 78 59 -24.2

Total EBITDA 575 821 42.6 2,349 3,164 34.7

EBITDA margin (%) 19% 20% 20.5% 21.3%

Net Profit (Loss) before extra items 98 295 201.3 505 1,070 111.8

Extra-equity gain in PFPO 16 10 -37.0 19 (7) -138.8

Loss on guarantee provision PFPO (64) (40) 37.0 (74) (40) 45.2

Gain from business combination - CKR - 458 na - 458 na

Amortization of deferred rental income 25 25 - 100 100 -

Net Profit after extra items 75 748 896.7 550 1,581 187.2

EPS (Baht per share) 0.1 0.6 823.1 0.4 1.2 185.4

-75%

83%

6%

66% 175%

17%

94% 34%

-50%

0%

50%

100%

4Q11 4Q12 FY11 FY12

47% 66%

54% 64%

53% 34%

46% 36%

0%

20%

40%

60%

80%

100%

4Q11 4Q12 FY11 FY12

39% 45% 43% 44%

61% 55% 57% 56%

0%

20%

40%

60%

80%

100%

4Q11 4Q12 FY11 FY12

Consolidated Earnings: 4Q12 and FY12


Financial highlights:

• Total revenue in 4Q12 and FY12 grew by 34.8% and 29.5%, respectively. Significant growth in

hotel is noted in particular 4Q12 compared to relatively low revenue base last year (impact of

flood). Significant improvement in hotel performance has led to the strong growth in net profit in

4Q12 and FY12.

• Significant non-recurring items in 4Q12 include:

• One time accounting gain of Bt458.2mn from an acquisition of additional 34% share in Centara

Karon in March 2012 (increase in shareholding from 50% to 84%). • Loss on guarantee provision of property fund in total of Bt40.4mn

Total revenue by business

EBITDA by business

Net profit by business

4Q11 4Q12

Food Hotel

FY12

Note: Revenue and EBITDA before amortization deferred rental income from property fund

FY11

Summary of financial position as at 31 December 2012


19,921

25,768

1,763

1,989

31-Dec-11 31-Dec-12

Non-current assets Current assets

Assets (THB million)

21,684

27,757 +28.0%

6,049 10,059

15,635

17,698

31-Dec-11 31-Dec-12

Shareholders'Equity Total liabilities

Liabilities & Shareholders’ Equity (THB million)

+66.3%

+13.2%

21,684

27,757

+29.4%

+12.8%

o Total asset increased by Bt6,074mn to Bt27,757mn (or 28%) between period mainly due to the consolidation of assets of Centara Grand Maldives, Centara Maldives and Centara Karon, Phuket (Bt3,034mn) and an increase in value of assets as a result of asset revaluation (Bt2,120mn).

o Total liabilities increased by Bt2,063mn to Bt17,698mn (or13%) primarily due to the consolidation of liabilities of Centara Grand Maldives, Centara Maldives and Centara Karon, Phuket (Bt1,738mn).

o Shareholders’ equity rose by 66% Bt10,059mn contributed from both increase of net profit and asset revaluation.

+28.0%

60.2

2,558.4

1,036.1

1,400.0

62.0

5,163.5

1,800.0

31.0

Interest Bearing Debt (THB million)

Bank overdraft

Short-term loan

Current portion of Long-term

loans

Current portion of Debenture

Current portion of PPF2

Long-term loans

S-T LOANS (42.2%) = 5,116.7 MB L-T LOANS (57.8%) = 6,994.5 MB

FIXED-RATE LOAN (39.3%) = 4,758.4 MB FLOAT-RATE LOAN (60.7%) = 7,352.8 MB

Debt Structure as at 31 December 2012: Total loans of 12,111.2MB with average cost of debt of 4.42%

7

Note: *- Excluding interest bearing debt of Joint venture, Centara Kata, Phuket

2012 2011

Interest bearing Debt/ Equity 1.2x 1.7x

CENTEL's Opportunity Day 4Q12

Hotel Business


Centara Grand Resort & Spa, Pattaya

Our Hotel Portfolios 56 hotels, including 34 hotels in operation at the end of 2012 and 22 hotels under development

India 30 Keys

Maldives 362 Keys Bali

354 Keys Mauritius 268 Keys

Vietnam 1,034 Keys

China 125 Keys

Thailand 8,215 Keys

Srilanka 517 Keys

o Total 56 hotels & resorts with 10,905 keys o 14 owned and 1 JV hotels and 41 hotels under

management contracts (of which 20 hotels are currently in operation and 21 are under construction).


Hotel Portfolios at the end of 2012: Total 34 hotels in operation with total 6,579 keys (including 12 owned properties, 1 JVs, 1 Property Fund and 20 hotels under management contract).

10

Hotel Name #Rms Country

Owned Hotel

1 Centara Grand at CentralWorld 512 Thailand

2 Centara Grand Ladprao 565 Thailand

3 Centara Grand Hua Hin 249 Thailand

4 Centara Grand Phuket 262 Thailand

5 Centara Grand Krabi 192 Thailand

6 Centara Grand Mirage Pattaya 555 Thailand

7 Centara Villas Phuket 72 Thailand

8 Centara Karon Resort Phuket 335 Thailand

9 Centara Mae Sot Hill Resort 113 Thailand

10 Centara Hat Yai 245 Thailand

11 Centara Villas Samui 100 Thailand

13 Centara Grand Maldives 112 Maldives

Property Fund Hotel

12 Centara Grand Samui 202 Thailand

Joint Venture Hotel

14 Centara Kata Resort Phuket 158 Thailand

Managed Hotel

15 Khum Phaya Resort, Boutique 87 Thailand

Hotel Name #Rms Country

16 Centara Udon Thani 259 Thailand

17 Centara Chaan Talay, Trat 44 Thailand

18 Centara Duangtawan Chiang Mai 512 Thailand

19 Centara Sappaya, Rayong 13 Thailand

20 Centra Ashlee Hotel Patong 110 Thailand

21 Away Suansawan Chiang Mai, Boutique 50 Thailand

22 Centara Anda Dhevi, Krabi 138 Thailand

23 Centara Plaza Hotel Pattaya 152 Thailand

24 Nova Hotel & Spa Pattaya, Boutique 79 Thailand

25 Chen La Resort & Spa Phu Quoc, Boutique 108 Vietnam

26 Waterfront Suites Phuket 39 Thailand

27 Centra Tuam Resort Bali 90 Indonesia

28 Centara Grand West Sands, Phuket 316 Thailand

29 Centara Hotel Khonkaen 196 Thailand

30 Centara Sandy Beach Da Nang Vietnam 198 Vietnam

31 Centara Koh Chang Resort 157 Thailand

32 Centara Poste Lafayette, Maurittius 100 Maurittius

33 Centra Government Complex 204 Thailand

34 Centra Coconut Beach Samui 55 Thailand


Hotels in Pipeline 22 hotels with 3,749 rooms under develpment, comprising:

1 owned hotel in Maldives (CENTEL’s holding 75%); and

21 hotels under management contracts

2013 2014 2015

# of hotels 13 8 1

# of rooms 2,085 1,544 120

Thailand

Hotel 5 5 1

Rooms 1,170 1,186 120

Overseas (hotels/ rooms)

Hotel 8 3 -

Rooms 915 358 -

Thailand/ Overseas (by no. of rooms) ** 56:44 77:23 100:0

Note: ** Overseas properties are located in India, Mauritius, Bali, Srilanka , Vietnam and China.

11 CENTEL's Opportunity Day 4Q12

0.3%

20%

32%

23%

57%

20%

32%

4Q11 1Q12 2Q12 3Q12 4Q12 FY11 FY12

-100.00%

-80.00%

-60.00%

-40.00%

-20.00%

0.00%

20.00%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

FY11 FY12

23.0%

42.9%

24.5% 20.1%

29.5%

-50.00%

-40.00%

-30.00%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

0

500

1,000

1,500

2,000

2,500

3,000

4Q11 1Q12 2Q12 3Q12 4Q12

Room F&B Other Income EBITDA margin (%)

Total Hotel Revenue and EBITDA

1,821

1,380 1,439

Hotel: Financial Snapshot 4Q12 and

FY12


o In 4Q12, total revenue grew by 57.0% yoy

or Bt664mn to Bt1,829mn. Significant

revenue growth is noted from all

properties, in particular properties in

Bangkok, Pattaya and Hua Hin. This has let

to improvement of EBITDA margin from

23% in 4Q11 to 29.5% in 4Q12.

o In FY12, total revenue rose by 32.0% or

Bt1,567mn to Bt6,473mn. Revenue growth

was derived from all major properties

Consolidation of revenue from Centara

Karon since March 2012 has contributed

about 18% of total revenue growth. Strong

revenue growth has led to EBITDA margin

improvement from about 26% to 31% in

2012.

1,829

31.2%

6,473

Total Hotel Revenue growth yoy

Note: Total revenue excluded amortization form property fund and non recurring items

4,904

1,165

25.9%

Hotel’s KPI by Brand

KPIs by Brand 4Q11 4Q12 Chg FY11 FY12 Chg

OCC by Brand

• Grand 61.2% 76.0% 14.8% 64.6% 71.4% 6.8%

• Centara 72.0% 71.9% -0.1% 62.1% 66.3% 4.1%

Average OCC 64.3% 74.8% 10.6% 63.9% 69.9% 6.0%

Average Room Rate

• Grand 4,284 4,380 2.2% 4,197 4,270 1.7%

• Centara 2,389 2,445 2.4% 2,328 2,352 1.0%

Average ARR 3,679 3,844 4.5% 3,663 3,744 2.2%

RevPar

• Grand 2,621 3,330 27.0% 2,712 3,047 12.4%

• Centara 1,719 1,757 2.2% 1,447 1,559 7.7%

Average RevPar 2,364 2,877 21.7% 2,340 2,617 11.8%


o In 4Q12, RevPar grew significantly by

22% yoy to Bt2,877. High occupancy

in particular for properties in

Bangkok, Phuket and Hua Hin, and

growth in ARR for property in Pattaya

and Centara Grand at Central World

were the key driver for the Revpar

growth in 4Q12.

o In FY12, RevPar rose by about12%

yoy to Bt2,617 primary driven by

growth in most properties in

particular property in Bangkok,

Pattaya and Phuket.

Note: figures represented owned and joint venture hotel in Thailand only

Revenue Contribution by Location o In 2012, 38% of revenue was generated from properties in Bangkok. With the consolidation of Centara Karon, Phuket

(increased in shareholding from 50% to 84% since March 2012), revenue contribution from Phuket increased from 13% in 2011 to 17% in 2012.

Note: - Excluded other income and revenue from JVs

Bangkok

35%

Hua Hin

11%

Hat Yai

4%

Krabi

8%

Pattaya

19%

Phuket

13%

Samui

9%

Tak

1%

Revenue by Location 2011 VS 2012

2011

Bangkok 38%

Hua Hin 9% Hat Yai

3% Krabi 7%

Pattaya 17%

Phuket 17%

Samui 8%

Tak 0.5%

Maldives 1%

2012


Tourism market: Number of International Tourists arrivals continue to rise

o Asians (East and South Asia) are the major international arrivals to Thailand accounting for about 62% of total tourist arrivals, followed by European (about 25%).

o In 2012, top 3 tourist arrival growth by source were from China (+62% ), Russia (+25%) and Japan (22%).

7.6 7.1 8.2 10.3

12.5

24.0

4.0 4.1 4.4

4.9 5.6

56% 49% 51% 58%

61%

64% 61% 58% 64% 70%

-150.00%

-100.00%

-50.00%

0.00%

50.00%

100.00%

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

2008A 2009A 2010A 2011A 2012A 2013E

East Asia Europe Americas South Asia Oceania Middle East Africa Market OCC Centel OCC

Airport Closure April Riot Rajprasong Protest

Mill

ion

Per

son

s

Flooding in Central of Thailand

14.6 14.1 15.9

19.1

Source: BOT and TAT

East Asia, 56%

Europe, 25%

Americas, 5%

South Asia, 6%

Oceania, 5% Middle East, 3%

Africa, 1%

International Arrivals: 2012

TAT’s Estimated

Number of International Arrivals

Nationality 2011 2012 % ∆ yoy

East Asia 10.3 12.5 20.8

Europe 5.1 5.6 10.1

The Americas 1.0 1.1 13.4

South Asia 1.2 1.3 11.4

Oceania 0.9 1.0 12.1

Middle East 0.6 0.6 0.6

Africa 0.1 0.2 17.4

Total 19.2 22.3 16.0

22.3


Thailand 17%

Asia 21%

Europe 40%

Australia 12%

Middle East 3%

USA 2%

Others 5%

Centara’s Feeder Market

o For 2012, trend of market mixes move in line with the movement international tourist arrival patterns.

o We target to continue penetrating in our traditional market (European) whist seeking an opportunity to gain market share in growth market. It’s our policy not to rely on any single market.

Note: By number of Room Nights Russia is included in Europe Others include Latin America, Canada, South America, etc.

Guest Mixes by Number of Room Night 2011 vs 2012

2008

Thailand

18%

Asia

20%

Europe

42%

Australia

10%

Middle East

3%

USA

2%

Others

5%

2011 2012


Market Overview


Bangkok

• MICE is on a positive trend but mostly from Asian regional markets

• Currently benefit from some major MICE events booked a long time ago which helps to bolster numbers as some time last year was supplements by business moved from the flood period

Pattaya

• Remain extremely strong overall and yielding takes place daily to maximize remaining inventory

• Russians dominate this month, given their demand for the destination, willingness to pay higher rates and their extended new year holiday through 7 January

Krabi

• Continues to enjoy a good mix demand which helps to drive rate

• However still some inventory to fill in March and pressure on rates from other resort discounting

Samui

• Most markets are commenting growing demand for the destination in 2013 on the back of better overall rates in the market (over supply) and a small shifting of air capacity upwards.

Phuket

• Q1/2013 demand continues strong

• Overall worrying trends for Phuket as more traditional source markets decide to move towards Krabi and Khao Lak either for concerns of scams and safety or for the overall better pricing in Khao Lak area over Phuket

Facilities COSI

Room Size 18 sqm.

F&B Outlets Food Corner & Bar

Swimming Pool Resort destination only

Spa No

Fitness Center No

Meeting Facilities Business Areas Only

Internet Free Wifi

Business Centre Business Corner

Kids Club No

Laundry Facilities Washing machines/Outsource

Limousine No

Retail Areas No

Introduction in 4Q12: COSI

Spotless Clean

Environment (Room &

Public Space)

Good Hot Shower

Practical and Comfortable Room (Work

& Life)

One Stop Convenience (Front Desk Services &

F&B Services)

Free Wifi Connectivity

24 Hours Securities


Introduction to COSI: Expansion Plan

Year 2015 2016 2017 2018 2019 2020

Owned 1 1 1 1 1 1

Managed 4 4 4 4 4 4

Accumulated 5 10 15 20 25 30

4

8

12

16

20

24

-10

-5

0

5

10

15

20

25

30

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2015E 2016E 2017E 2018E 2019E 2020E

Management Fees # of managed hotels Unit: THB


Food Business


The Terrace

Food Chain Market Size in Thailand

21

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

2007A 2008A 2009A 2010A 2011A 2012A 2013E

Pizza Consumer Foodservice

Suki, Shabu, Chacoal grilled

Japanese restaurant

Ice Cream shop

Fast Food

Premium Coffee

Burger Fast Food

Bakery Products (Include Donut)

43,356

79,562

90,296

Source: Euromonitor

51,405 56,227

62,221

70,515

Top 3 CAGR from 2007- 2012

Suki, Shabu, Chacoal grilled 16%

Japanese restaurant 15%

Pizza 15% Burger Fast Food 15%


Food’s Portfolios at the end of 2012: 12 brands with 677 outlets in 71 provinces in Thailand

Mister Donut

Auntie Anne’s

Beard Papa’s

Cold Stone

Café’ Andonand

KFC

Pepper Lunch

Chabuton

The Terrace

Ryu Shabu Shabu

Yoshinoya

Ootoya

Brands No. of outlets

KFC 181

Mister Donut 289

Café Andonand 1

Auntie Anne’s 100

Pepper Lunch 16

Beard Papa’s 17

Chabuton 12

RYU 1

Cold Stone 10

The Terrace 4

Yoshinoya 9

Ootoya 36

Total 677


http://www.andonand.jp/index.html

24%

29%

37%

26%

21% 24%

28%

4Q11 1Q12 2Q12 3Q12 4Q12 FY11 FY12

-70.0%

-60.0%

-50.0%

-40.0%

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

6,500

7,000

7,500

8,000

8,500

9,000

9,500

FY11 FY12

1,859 1,901

2,161 2,046

2,247

16.6% 14.1% 15.2% 12.9% 12.5%

-70.00%

-60.00%

-50.00%

-40.00%

-30.00%

-20.00%

-10.00%

0.00%

10.00%

20.00%

30.00%

0

500

1,000

1,500

2,000

2,500

3,000

4Q11 1Q12 2Q12 3Q12 4Q12

QSR: Financial Snapshot 4Q12 and FY12

CENTEL's Opportunity Day 4Q12 23 Note: EBITDA excluded depreciation allocated to cost

Total QSR Revenue and EBITDA

Bt461mn

8,356

13.7%

Total Food Revenue growth yoy

o In 4Q12, total revenue grew by 20.9%

yoy or Bt388mn to Bt2,247mn mainly

due to the growth of 4 key brands, KFC,

Ootoya, Mister Donut and Auntie Anne’s,

respectively. EBITDA margin dropped

from 16.6% last year to 12.5% due to

minimum wage impact and cost &

expense of outlet expansion.

o In FY12, total revenue increased by 27.6%

or Bt1,805mn to Bt8,356mn primarily

due to strong growth of KFC. The 1st

full year operation of Ootoya also

contributed about 28% of total revenue

growth. EBITDA margin decreased from

16.4% to 13.7% due to minimum wage,

cost & expense of outlet expansion and

closed ice cream factory in 1Q12.

16.4%

6,551

QSR: Organic Growth vs. Total Growth


o In FY12, revenue (excluding other income) increased by 27% yoy to Bt8,259mn mainly derived from growth from existing brand

of Bt1,017mn (or 58%) and new brands of Bt747mn (or 42%).

6,495

8,259 1,017

747

FY11 Exisitng Brands New Brands FY12

Revenue Incremental

Note: Revenue exclude other income

Existing brands include KFC, Mister Donut /Café Andonand, Auntie Anne’s, Pepper Lunch,

Beard Papa,’s Chabuton, Ryu Shabu Shabu and Cold Stone Creamery New Brands include The Terrace, Yoshinoya and Ootoya

Food Revenue Breakdown by Brand

Note: - Revenue excluded other income - CSC included Factory

KFC 58.0% MD

22.7%

AA 8.2%

Ootoya 3.2%

PL 2.1%

Others 5.8%

2011

QSR Revenue by Brands2011 vs 2012

KFC 53.6%

MD/CA 19.9%

Ootoya 8.7%

AA 8.0%

CBT 2.3%

PL 2.2%

CSC 2.0%

Others 3.2%

2012

TT 0.1%

CSC 2.0%

CBT1.8%

BP 1.1%

RYU0.4%

YO 0.3%

TT 0.6%

BP 1.2%

RYU0.3%

YO 1.5%

o In 2012, 4 key brands, KFC, MD, Ootoya and Auntie Anne’s, contributed about 90% of QSR’s revenue.


QSR: 4Q12/FY12 SSS and TSS


Note: Cold Stone excludes ice cream factory

Brand

SSS SSS TSS TSS

4Q11 4Q12 FY11 FY12 4Q11 4Q12 FY11 FY12

KFC 13.1% 7.5% 18.3% 8.7% 12.6% 18.0% 18.3% 17.4%

Mister Donut 4.3% 0.2% 9.0% 4.4% 5.6% 13.6% 12.0% 11.5%

Auntie Anne’s 30.9% 2.1% 17.5% 9.8% 14.0% 31.4% 14.5% 25.2%

Pepper Lunch 13.3% -11.8% 6.2% -7.2% 80.7% 11.1% 70.8% 34.4%

Beard Papa’s -25.8% -20.6% -35.9% -23.3% 17.3% 8.0% 38.6% 27.4%

Chabuton -30.8% -17.3% -27.9% 257.0% 19.8% 363.8% 59.5%

Ryu Shabu Shabu -2.0% 0.1% -7.7% -2.0% 0.1% 85.4% -7.5%

Cold Stone na -1.6% 84.9% 151.5% 52.7%

The Terrace 1.2% 70.1% 513.3%

Yoshinoya -16.1% 105.7% 405.8%

Ootoya 2.5% 13.0% 967.1%

Average 10.6% 3.8% 14.8% 6.2% 24.5% 20.0% 23.7% 27.1%

Medium Term Outlook


Away Suansawan Chiang Mai, Centara Boutique Collection

2013 Target

Hotel FY13E

OCC (%) 70% -71%

ARR (Growth yoy)

15% - 16%

RevPar (Growth yoy)

18% - 19%

QSR FY13E

SSS (%) 5% - 7%

TSS (%) 16% - 17%

# of Outlets +80

QSR business:

o Full year target SSS growth at 5% - 7% and TSS growth at 16% - 17%.

o Key drivers for revenue growth are KFC, MD, Ootoya and Yoshinoya.

Hotel Business:

o Full year target for OCC is about 70%-71%.

o ARR growth is targeted to increase significantly at 15% - 16%, including 2 projects in Maldives. If excluding hotels in Maldives, ARR growth is targeted at about 4% - 5%.

o RevPar growth is about 18-19%. Excluding 2 Maldives projects, RevPar growth is around 8%-9%


Business by Segment

29

o Revenue split between hotel and food business is expected to be around 57:43 in next 5 years. o Net profit contribution from hotel business is expected to increase to 66% in 2017E due to high

margin earned from management fees income.

Total Revenue by Segment Net Profit by Segment

44% 43%

56% 57%

2012A 2017E

Hotel Food

53% 66%

47% 34%

2012A 2017E

Hotel Food

Note: net profit in 2012 before extra items of guarantee in PFPO and Gain from business combination in total of Bt418mn


CENTEL’s CAPEX vs EBITDA

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

2013E 2014E 2015E 2016E 2017E

CAPEX EBITDA

o In 2013, total CAPEX is about Bt1,700mn including:

o Investment in Centara Rasfushi Resort & Spa (CRF) Maldives (Bt485mn)

o Annual hotel renovation, food outlet expansion (Bt1,215mn)

o New opportunity of hotel business (in 2014 – 2016) is under study. The source of fund for this opportunity will be primarily from internally operating cash flow.

Note: Excluding investment in budget hotel


Net Debt/ Equity Ratio

1.4 1.1

0.8 0.6

0.4

-2.5

-2.0

-1.5

-1.0

-0.5

-

0.5

1.0

1.5

-

10,000

20,000

30,000

40,000

2013E 2014E 2015E 2016E 2017E

Net Debt Equity Gearing Ratio

Note: Not take into account of budget hotel and new opportunity of hotel business


CENTEL’s Milestone


• Hotel > 80 hotels

• Hotel in Overseas > 30

• QSR 16 brands, ≥ 1,000 outlets

2017E

• Hotel 47 hotels (34 in Thailand and 13 in Overseas

• QSR 13 brands, ≥770 outlets

2013E

• Hotel 34 hotels (29 in Thailand and 5 in Overseas

• QSR 12 brands, 677 outlets

2012

• Hotel 7 hotels

• QSR 5 Brands, 427 outlets

2005

Thank you


Centara Ashlee Hotel Patong

Central Plaza Public Company Limitedcentel.listedcompany.com/misc/PRESN/20130314-CENTEL-oppDay4… · Bangkok, Phuket and Hua Hin, and growth in ARR for property in Pattaya and Centara

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