Pandox AB Class B · OMXSTO:PNDX_B
Pandox AB Class B — Q4 2020 Earnings Presentation
27 slides from Pandox AB Class B's earnings presentation, February 2021
Slide 1: European performance update
European performance update Robin Rossmann | Managing Director, STR Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. A
Slide 2: Looking forward to 2021 – what to expect
Looking forward to 2021 – what to expect Insights from historical & future performance data from 70,000 hotels around the world 1. Patience will be a virtue in Q1 2. Domestic recovery should start in Q2 3. Get ready for the ketchup effect in Q3 4. Long-term recovery begins in Q4 Source: STR. 2020 ©
Slide 3: Patience will be a virtue in Q1
Patience will be a virtue in Q1 Source: STR. 2020 © CoStar Realty Information, Inc.
Slide 4: The year has started badly with a second round of lockdowns…
The year has started badly with a second round of lockdowns… Europe Countries - Occupancy (standard) R7, 1 March 2020 – 7 February 2021 Belgium Denmark Finland France Germany Italy Netherlands Poland Spain Sweden United Kingdom 80% 70% 60% 50% 40% 30% 20% 10% 0% March April May June July August Sept
Slide 5: … more hotels have remained open this time…
… more hotels have remained open this time… European hotel rooms open by country – STR reporting sample Source: STR. 2021 © CoStar Realty Information, Inc. 5
Slide 6: … as a result occupancy of open hotels worse than lockdown 1.0
… as a result occupancy of open hotels worse than lockdown 1.0 UK Occupancy (standard & full inventory) R7, 1 March 2020 – 7 February 2021 United Kingdom United Kingdom - TRI 80% Lockdown 1.0 Lockdown 2.0 Lockdown 3.0 70% 60% 50% 40% 30% 20% 10% 0% March April May June July August September October
Slide 7: No pick-up and not much business on the books
No pick-up and not much business on the books Occupancy on the books and pickup next 90 days as at February 8th 2021 United Kingdom 6 7 The Netherlands 0 0 Ireland 20 7 0 Belgium 5 0 0 Switzerland 6 Italy 4 Occupancy 0 Pickup Spain 5 0 Source: STR. 2021 © CoStar Realty Information, Inc. 7
Slide 8: Domestic recovery should start in Q2
Domestic recovery should start in Q2 Source: STR. 2020 © CoStar Realty Information, Inc.
Slide 9: Typically gateway cities have higher occupancies
Typically gateway cities have higher occupancies Full year 2019 occupancy, Regional vs Main city Main City Regional 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% United Netherlands Germany Czech Austria France Portugal Spain Russia Belgium Turkey Poland Greece Kingdom Republic Source: STR. 2021 © CoStar Re
Slide 10: … but regional markets outperformed in ‘20 and will again in ‘21
… but regional markets outperformed in ‘20 and will again in ‘21 Full year 2020 occupancy, Regional vs Main city Main City Regional 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Turkey Russia United Spain Germany France Poland Belgium Netherlands Austria Greece Portugal Czech Kingdom Republic Source: STR. 2
Slide 11: … regional ADR’s also likely to be more resilient that gateway
… regional ADR’s also likely to be more resilient that gateway Full year 2020 ADR % change, Local currency, Regional vs Main city Main City Regional 40% 30% 20% 10% 0% -10% -20% -30% -40% Turkey Greece Belgium Germany Austria Russia Poland Portugal Spain France Czech Netherlands United Republic King
Slide 12: Get ready for the ketchup effect in Q3
Get ready for the ketchup effect in Q3 Source: STR. 2020 © CoStar Realty Information, Inc.
Slide 13: Dubai has shown us how quickly things can bounce back…
Dubai has shown us how quickly things can bounce back… Dubai, Rolling 7 days occupancy (standard), 2020 vs 2019 Occupancy 2019 Occupancy 2020 100% 90% 80% 2019 2020 70% 60% 50% 40% 30% 20% 10% 2020 2021 0% March April May June July August September October November December January February Source:
Slide 14: … and recover ADR back to 2019 levels…
… and recover ADR back to 2019 levels… Dubai, Rolling 7 days ADR in local currency, 2020 vs 2019 Occupancy 2019 Occupancy 2020 AED 1,400 AED 1,200 AED 1,000 AED 800 2020 AED 600 2019 AED 400 AED 200 2020 2021 AED 0 March April May June July August September October November December January February
Slide 15: Maldives is another international demand market rebounding strongly
Maldives is another international demand market rebounding strongly Maldives, Rolling 7 days occupancy (standard), 1 January 2020 – 7 February 2021 Maldives International demand 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% January February March April May June July August September October November D
Slide 16: There is already demand out there for future events
There is already demand out there for future events Occupancy on the books for the next 365 days as 1st of February 2021 London Edinburgh Brussels Dublin Milan Amsterdam Paris Barcelona Madrid Moscow 70% 60% 50% 40% 30% 20% 10% 0% February March April May June July August September October November
Slide 17: Lower tier hotels doing better than Upper tier in the UK
Lower tier hotels doing better than Upper tier in the UK UK, Rolling 7 days Occupancy vs prior year Luxury & Upper Upscale Classes Midscale & Economy Classes Upscale & Upper Mid Classes 20% August Bank Holiday 0% -20% -40% -60% -80% -100% January February March April May June July August September O
Slide 18: Regions doing better than London
Regions doing better than London UK, Rolling 7 days Occupancy vs prior year London Lux & UU London Econ & Mid London U & UM Regional Lux & UU Regional Econ & Mid Regional U & UM 20% August Bank Holiday 0% -20% -40% -60% -80% -100% January February March April May June July August September October N
Slide 19: Lower tier hotels doing better than Upper tier in the UK
Lower tier hotels doing better than Upper tier in the UK UK, Rolling 7 days ADR vs prior year, local currency Luxury & Upper Upscale Classes Midscale & Economy Classes Upscale & Upper Mid Classes 30% August Bank Holiday 20% 10% 0% -10% -20% -30% -40% -50% -60% January February March April May June J
Slide 20: Regions doing better than London
Regions doing better than London UK, Rolling 7 days ADR vs prior year, local currency London Lux & UU London Econ & Mid London U & UM Regional Lux & UU Regional Econ & Mid Regional U & UM 40% August Bank Holiday 30% 20% 10% 0% -10% -20% -30% -40% -50% -60% -70% January February March April May June
Slide 21: Long-term recovery begins in Q4
Long-term recovery begins in Q4 Source: STR. 2020 © CoStar Realty Information, Inc.
Slide 22: China shows us domestic markets can recover quickly
China shows us domestic markets can recover quickly RevPAR (standard) % change on same week prior year, local currency 150% Sep Oct Nov Dec Jan Sep Oct Nov Dec Jan Sep Oct Nov Dec Jan 100% 50% 0% -50% -100% Mainland China 1st Tier Cities Other Cities Source: STR. 2021 © CoStar Realty Information, In
Slide 23: Australia shows international travel necessary for full recovery
Australia shows international travel necessary for full recovery Australia, RevPAR (standard), Rolling 7 days, local currency, 1 January 2020 – 7 February 2021 $250 Current Year Occupancy Prior Year Occupancy $200 $150 (40%) $100 $50 $0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Source:
Slide 24: So much for a V shaped recovery in Europe – here’s hoping for a W
So much for a V shaped recovery in Europe – here’s hoping for a W Rolling 7 days Occ % of open hotels – illustrative forecast based on aggregate of European cities Europe hotel occupancy 70% 60% 50% 45% 40% 30% 30% 20% 20% 10% 0% 01-Feb 01-Mar 01-Apr 01-May 01-Jun 01-Jul 01-Aug 01-Sep 01-Oct 01-Nov
Slide 25: Bounce back in 2021 with steady recovery thereafter
Bounce back in 2021 with steady recovery thereafter Forecast RevPAR performance index to 2019, European markets* European Markets 105 95 (40%) 85 75 65 55 45 35 *Aggregated performance of Amsterdam, Athens, Amsterdam,Athens,Barcelona,Belfast,Berlin,Birmingham,Brussels,Budapest,Cologne,Dublin, Dussel
Slide 26: Markets with high reliance on international will take longer to recover
Markets with high reliance on international will take longer to recover Level of reliance of travel demand based on source market Domestic Short-haul Medium-haul Long-haul High reliance on international High reliance on domestic Source: STR. 2020 © CoStar Realty Information, Inc. 26
Slide 27: Thank You!
Thank You! Robin Rossmann www.str.com Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. Any such reproduction shall spe