CENTRAL PLAZA
HOTEL PCL.
16 May, 2016
Company Background
Hotel Business
Food Business
Financial Highlight & Outlook
2
3
COMPANY BACKGROUND
CENTRAL GROUP & CENTEL OVERVIEWS
4
CENTEL’S Shareholders @Mar 31, 16
“Chirathivat” family65%
Local investors 20%
Foreign investors 15%
Symbol: CENTEL
Sector: Tourism
Div Policy: 60%
Price: Bt38.75
(as of 12/05/16)
Market Cap: Bt52,313mn
Equity market information
Yuwadee
ChirathivatCEO
Pascal
BillaudCEO
Suthisarn
ChirathivatCEO
Worawoot
OunjaiCEO
Central Group Business Unit
Preecha
EkkunagulCEO
Edwin Yap
HawsonCEO
Thirayuth
ChirathivatCEO
Thiradej
ChirathivatCEO
Tos ChirathivatGroup CEO
CENTEL
Phillippe
BroianigoCEO
Vietnam
MILESTONES
5
CENTEL’s MILESTONE
introduced
“Mister
Donut”
1st hotel,
“Centara
Grand at
Central
Ladprao
Bangkok”
Authorized
franchisee
of KFC
Franchisee
of Auntie
Anne’s
Listed in
The Stock
Exchange
of Thailand
(SET)
Capital
increase
of Baht
500
million
Capital
increase of
Baht 450
million
Par splited
from Baht 5
to Baht 1
Rebranding
hotel brand
from
“Central” to
“Centara”
Centara
Grand at
Central
World
Launched
Property
Fund
(Centara
Grand
Samui)
Centara
Grand Mirage
Beach Resort,
Pattaya
Opening the
1st oversea
JVs in
Maldives
“Centara
Grand Resort
& Spa,
Maldives”
Terminated
Pizza Hut and
Baskin Robbins
and introduced
Beard Papa’s
Opening
Centara
Grand
Phuket
Bought 5
new brands
into
portfolios
Acquired
“Ootoya”
home
cooking
style
Japanese
restaurant
Co
rpo
rate
Fo
od
bu
sin
ess
Ho
tel
bu
sin
ess
Introduced
Pepper
Lunch
Step up
acquisition of
• Centara
Karon,
(Feb)
• Centara
Maldives
(Mar)
• Centara
Grand
Maldives
(Dec)
Centara
Maldives
(24-Mar)
Terminated
Café
Andonand
Introduced
“Tenya” into
portfolio
Step up
acquisition of
Centara
Kata
(7-Oct)
Terminated
Beard Papa’s
Introduced
“katsuya” into
portfolio
1978 1983 1984 1990 1991 1998 2006 2007 2008 2009 2010 2011 2012 2013 2014
BUSINESS CONTRIBUTION 2015
47%
70% 69%
53%
30% 31%
Total
Revenue*
EBITDA NPAT
Hotel Food
6
91%
9%
Total Revenue and Profit by Segment
Thailand
Overseas
* Excluded equity gain (loss) from property fund, amortization of deferred rental income
Total Revenue by Geography
7
HOTEL BUSINESS
BRANDS & KEY STRATEGY
Asset Right Strategy
Asset Light
Strategy
8
� Focusing on expansion of portfolios through hotel
management business
� Investing in property (100% equity or JVs)
using internal cash flow and leverage,
subject to internal guideline
2 Key Strategies Key Brands
BrandsTraditional
LodgingIndependent
TravelersExtended
Stay
Grand Design
Exclusively Yours
Designed & Focused
Value Proposition
EconomyBrand
HOTEL PORTFOLIOS AS AT 1 MAY 16
99*2 COSI hotels, **2 New Maldives projects, *** incl. contracts on hand only
Total portfolios
Owned hotels
PropertyFund
Managed hotels
Total% (by
rooms)
Thailand3,809(14)
202(1)
4,620(27)
8,631(42)
68%
Overseas552(4)
-3,464
(15)
4,016(19)
32%
Total Rooms(Hotels)
4,361(18)
202(1)
8,084(42)
12,647(61)
100%
Hotels in operation
Owned hotels
PropertyFund
Managed hotels
Total% (by
rooms)
Thailand3,358
(12)
202
(1)
3,529
(21)
7,089
(34)91%
Overseas252
(2)-
409
(4)
661
(6)9%
Total Rooms (Hotels)
3,610
(14)
202
(1)
3,938
(25)
7,750
(40)100%
Hotels in pipeline
Owned hotels
PropertyFund
ManagedHotels
Total% (by
rooms)
Thailand451*
(2)-
1,091
(6)
1,542
(8)31%
Overseas300**
(2)-
3,055
(11)
3,355
(13)69%
Total Rooms(Hotels)
751
(4)-
4,146
(17)
4,897
(21)100%
254 301 437 550514
2,495346
4 2
105
-40
-30
-20
-10
0
10
20
-500
500
1,500
2,500
3,500
4,500
2016F 2017F 2018F 2019F
Overseas Thailand # of hotels
21 Hotels in pipeline by target opening year***
Remark: Overseas include Indonesia, Laos, Maldives, Sri Lanka, Doha, Oman, Cuba and China
IND2 hotels
Maldive
s5 hotels
CHN1 hotel
THA
42 hotels
INDO2 hotels
Total Portfolios: 61 hotels with 12,647 rooms
Maldives4 hotels
CHN3 hotels
VNM4 hotels
Srilanka1 hotel
Middle East3 hotels
LAOS1 hotel
CUBA1 hotel
FEEDER MARKET FY15 and 1Q16
10
CENTARA’s Guests by room nights
27%
10%
37%
3%
17%
2% 4%
36%
9%
31%
3%
15%
3% 3%
Asia AUS EU Middle
East
THA USA Others
FY14 FY15
34%
6%
40%
3%
12%
2% 3%
36%
5%
39%
3%
12%
3% 2%
Asia AUS EU Middle
East
THA USA Others
1Q15 1Q16
HOTEL PERFORMANCE SNAPSHOT
11Noted: Performance of owned hotels
Noted: **Excluded extra items and deferred rental income from PFPO
EBITDA Margin
8,316 9,046
2,719 2,803
FY14 FY15 1Q15 1Q16
Total Revenue
Total Revenue** (Btm)
3,812 3,812 3,812 3,812
4,7733,908 3,993 3,938
FY14 FY15 1Q15 1Q16
Managed Hotels
Owned + JVs Hotels
Number of rooms
2,6362,951
1,187
1,168
FY14 FY15 1Q15 1Q16
EBITDA (Btm)
31.7% 32.6%
43.7% 41.7%
FY14 FY15 1Q15 1Q16
+12%
+9%
+3%
-2%
ARR (Bt) 2014A 2015A % Chg 1Q15 1Q16 % Chg
Bangkok 3,112 3,248 4.4% 3,148 3,411 8.3%
Upcountry 3,987 4,017 0.7% 5,199 5,056 -2.8%
Maldives 17,455 19,133 9.6% 21,931 24,587 12.1%
Average 4,855 4,809 -1.0% 5,782 5,870 1.5%
OCC (%) 2014A 2015A Chg 1Q15 1Q16 Chg
Bangkok 61.6% 81.3% 19.7% 85.0% 85.0% -
Upcountry 78.9% 79.6% 0.7% 84.9% 88.0% 3.1%
Maldives 90.6% 86.2% -4.4% 89.8% 85.3% -4.5%
Average 74.8% 80.5% 5.7% 85.3% 87.0% 1.7%
RevPar (Bt) 2014A 2015A % Chg 1Q15 1Q16 % Chg
Bangkok 1,917 2,642 37.8% 2,677 2,898 8.2%
Upcountry 3,146 3,197 1.6% 4,416 4,448 0.7%
Maldives 15,814 16,495 4.3% 19,687 20,982 6.6%
Average 3,632 3,872 6.6% 4,932 5,104 3.5%
CENTARA vs. MARKET PERFORMANCE
12
24.829.9
7.8 9.0
+20%
74% 80% 85% 87%
56% 62% 68% 70%
-200%
-150%
-100%
-50%
0%
50%
100 %
0.0
10.0
20.0
30.0
40.0
50.0
60.0
FY14 FY15 1Q15 1Q16
Tourist Arrivals CENTEL - OCC (Thailand) Industry - OCC
Source: BOT* Source: National Economics and Social Development Board - NESDB
+15%
Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak Total
# Rooms 1,077 252 827 555 249 302 192 245 113 3,812
% of Total Rooms
28.3% 6.6% 21.7% 14.6% 6.5% 7.9% 5.0% 6.4% 3.0% 100%
%RevPar Growth
(FY15) – Y-o-Y37.8% 4.3% -2.2% -0.9% 5.4% 5.2% 6.3% 9.6% -0.2% 6.6%
%RevPar Growth
(1Q16) – Y-o-Y8.2% 6.6% -3.7% -3.6% 3.4% 6.0% 11.6% 5.4% 21.3% 3.5%
REVENUE CONTRIBUTION BY LOCATION
26%
21%
16%14%
8% 7% 6% 3%
30%
19%16%
13%
7% 7% 6%2%
Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others
FY14 FY15
13
Revenue
26%
19%18%
13%
8%7% 7% 2%
26%
21%
17%
12%
8% 7% 7%
2%
Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others
1Q15 1Q16Revenue
14
FOOD BUSINESS
BRANDS AND KEY STRATEGY
15
Owned-Outlet Expansion
Acquisition
Joint Venture
Key Strategy10 Brands
(Franchise Agreements)
1 Brand
(In House)
Establishment
1978
1984
1988
2007
2010
2011
2013
2014
� Joint venture with
partner
� Acquisition
� Existing brands expansion
across Thailand
All expansion plans are expected to be supported by
internal cash flows and debt.
PORTFOLIOS AS AT 31 MARCH, 2016
16
Brands # Outlets
KFC 207
Mister Donut 319
Auntie Anne’s 129
Ootoya 47
Pepper Lunch 17
Cold Stone 17
The Terrace 15
Chabuton 17
Yoshinoya 18
Tenya 4
Katsuya 10
Total 800
3% in
the West
7% in
the North
60%in Central
10% in
the East
12% in
Northeast
8% in
the South
Outlets and Revenue Contribution:
37% of total outlets and 35% of
total food revenue are fromBangkok
37%
Bangkok Contribution
35%
By Location By Revenue
FOOD PERFORMANCE SNAPSHOT
1.4%
-0.7%
0.6%
-0.1%
9.3%
2.0%
5.6%
3.2%
FY14 FY15 1Q15 1Q16
SSS TSS
17
9,967 10,170
2,426 2,503
FY14 FY15 1Q15 1Q16
Total Revenue (Btmn)
781792
777
800
FY14 FY15 1Q15 1Q16
Number of Outlets
9371,258
297 291
9.4%
12.4% 12.2%11.6%
0%
2%
4%
6%
8%
10%
12%
14%
0
1,0 00
2,0 00
FY14 FY15 1Q15 1Q16
EBITDA (Btmn) EBITDA Margin
+1%
+2%
+34%
+3%
-2%
+3%
REVENUE CONTRIBUTION BY BRANDS
18*Other heavy food include Pepper Lunch, Chabuton, The Terrace, Yoshinoya, Tenya, Katsuya and Ryu (terminated 1Q16)**Other light food include Cold Stone.
54%
19%9% 7% 9% 2%
55%
19%
8% 7% 9%2%
KFC MD OOTOYA AA Other
Heavy
Food
Other
Light
Food
FY14 FY15
FY15 KFC Mister Donut Auntie Anne’s Ootoya Other heavy food* Other light food** Total
#Outlets (FY15) 207 318 129 47 75 16 792
Y-o-Y growth (#outlet) 2.0% -1.9% 3.2% - 10% 14% 1%
#Outlets (1Q16) 207 319 129 47 81 17 800
Y-o-Y growth (#outlet) 2.5% -1.2% 2.4% 2.2% 20.9% 30.8% 3.0%
55%
18%9% 7% 8% 3%
55%
18%8% 8% 10%
2%
KFC MD OOTOYA AA Other
Heavy
Food
Other
Light
Food
1Q15 1Q16
19
Financial Highlight and Outlook
LT debt,
4,667MB ,
56%
DEBT PROFILE AS AT 31 March, 2016
396.5
4,999.0
2,913.5
2.0
O/D and ST/L Debentures LT/L Finance Lease
Liabilities
20
Bt8,311mn Interest Bearing Debt with Average Cost of Debt at 3.9%
Unit: Btmn
Floating rate,
4,108MB , 49%
USD
loans,
22%
Baht
loan,
78%
Loan breakdown by type
Loan breakdown by type
Key financial ratios FY15 1Q16
Net Debt*/Equity 1.16 0.99
IBD/Equity 0.87 0.77
*excl. amortised deferred income from property fund
GUIDANCE 2016
21
Hotel FY15A FY16F
Occupancy 81% 81% -82%
RevPar 7% 4% - 5%
Revenue from operation 7% 4% - 5%
Food FY15A FY16F
SSS -1% Flat
TSS 2% 4%
Outlet Expansion 1% 4%
Key drivers
•Bangkok Hotels in particular Centara Grand at Central
World
•Centara Grand Maldives – post renovation
Key Challenges
•High Competition in Pattaya and Phuket due to changes in
guest mix
Key Factors
Key Drivers
• Top 3 brands KFC, Mister Donut, Auntie
Ann’s
• Continued efforts on cost control
Key Challenges
•Slim economic growth and weak domestic
consumption
Key Factors
DEVELOPMENT HIGHLIGHT
22
� 15,000 rooms (>70 hotels)� >1,000 outlets
� 7,720 rooms (40 hotels)� 792 outlets of 12 brands
� 5,726 rooms (32 hotels)� 512 outlets of 8 brands
23
THANK YOU
24
HOTEL IN OPERATION AS AT 1 MAY 2016 (1/2)
Total 40 hotels in operation as at 1 May
2016 with 7,750 rooms (including 15 owned
hotels and 25 hotels under managementcontract).
Hotel Name #Rms Country
Owned Hotels
1Centara 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
6Centara Grand Mirage Pattaya
555 Thailand
7 Centara Villas Phuket 72 Thailand
8Centara Karon Resort Phuket
335 Thailand
Hotel Name #Rms Country
Owned Hotels (continued)
9Centara Mae Sot Hill Resort
113 Thailand
10 Centara Hat Yai 245 Thailand
11 Centara Villas Samui 100 Thailand
12 Centara Grand Maldives 112 Maldives
13 Centara Maldives 140 Maldives
14Centara Kata Resort Phuket
158Thailand
Property Fund Hotel
15 Centara Grand Samui 202 Thailand
Asset types # Properties #Rms
Owned & JV hotels 15 3,812
Hotels under management contracts
25 3,938
Grand total 40 7,750List of 15owned & JV hotels (3,812rooms)
25
Hotel Name #Rms Country
30 Centara Koh Chang Resort 157 THA
31 Centra Government Complex 204 THA
32 Centra Coconut Beach Samui 55 THA
33Centara Watergate Hotel & Spa Bangkok
281 THA
34Khao Lak Seaview Resort & Spa, Centara
230 THA
35 Centra Central Station Bangkok 150 THA
36Centara Grand Phrathamnak Resort Pattaya
165 THA
37 The Blue Marine Resort & Spa Phuket 266 THA
38 CentaraCeysandsResort & Spa Srilanka 165 SRI
39 Centra Avenue Hotel Pattaya 51 THA
40 Centra Maris Resort Jomtien 282 THA
Hotel Name #Rms Country
Managed Hotel
16 Khum Phaya Resort, Boutique 87 THA
17 Centara Udon Thani 259 THA
18 Centara Chaan Talay, Trat 44 THA
19 Centara Sappaya, Rayong 42 THA
20 Centra Ashlee Hotel Patong 110 THA
21 Centara Anda Dhevi, Krabi 135 THA
22 Centara Plaza Hotel Pattaya 152 THA
23 Nova Hotel & Spa Pattaya, Boutique 79 THA
24Chen La Resort & Spa Phu Quoc, Boutique
36 VNM
25 Waterfront Suites Phuket 39 THA
26 Centra Taum Resort Bali 90 IND
27 Centara Grand West Sands, Phuket 545 THA
28 Centara Hotel Khonkaen 196 THA
29Sandy Beach Non NuocResort DanongVietnam Managed by Centara
118 VNM
List of 25 hotels under management contract (3,938 rooms)
Hotels in Operation as at 1 May 16 (2/2)
Opened in 1Q16
HOTEL IN OPERATION AS AT 1 MAY 2016 (2/2)