Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q3 FY2024 Earnings Presentation
43 slides from Ytl Hospitality Reit's earnings presentation, May 23, 2024
Slide 1: Third Quarter FY2024 Financial Results
Third Quarter FY2024 Financial Results 23 May 2024
Slide 2: Key Highlights – 3Q FY2024
KEY HIGHLIGHTS – 3Q FY2024 • Income available for distribution of FINANCIAL RM27.0 million for 3Q FY2024, +2.8% PORTFOLIO q-o-q HIGHLIGHTS MANAGEMENT • Properties in Malaysia and Japan under master leases • Properties in Australia (3Q FY2024 vs 3Q FY2023) ➢ Average Occupancy Rate: 84.2% vs 78.7% ➢ A
Slide 3: Financial performance 3Q FY2024
1 Financial performance 3Q FY2024 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 3Q FY2024
FINANCIAL PERFORMANCE: 3Q FY2024 1 January - 31 March 3Q FY2024 3Q FY2023 Change Total Revenue 148.6 126.9 + 17.1% (1) - Hotel Revenue (Management Contracts) 102.1 83.5 + 22.3% (2) - Lease Rental (Master Leases) 46.5 43.4 + 7.0% Net Property Income (NPI) 79.8 66.9 + 19.2% (1) - Management Contracts
Slide 5: Quarterly Financial Performance
QUARTERLY FINANCIAL PERFORMANCE FY2022 FY2023 FY2024 TOTAL revenue NET property income RM (million) RM (million) 17.1% 150 145.2 148.6 150 130.9 130.1 126.9 117.6 112.3 106.4 100 100 19.2% 79.8 75.7 68.3 66.3 66.9 60.0 58.1 56.8 50 50 0 0 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 5
Slide 6: Third Quarter Financial Performance by Country
THIRD QUARTER FINANCIAL PERFORMANCE BY COUNTRY 3Q FY2023 3Q FY2024 TOTAL revenue NET property income RM (million) RM (million) 120 22.2% 120 102.1 83.6 80 80 8.4% 8.4% 36.3% 36.5 39.6 37.6 40 40 34.7 36.1 26.5 0.6% 5.8% 6.8 6.9 5.7 6.1 0 0 Malaysia Australia Japan Malaysia Australia Japan 6
Slide 7: Financial performances: 9 months ended 31 March 2024 (YTD FY2024)
Financial performances: 2 9 months ended 31 March 2024 (YTD FY2024) JW Marriott Kuala Lumpur, Malaysia
Slide 8: Financial Performance: 9 Months Ended 31 March 2024
FINANCIAL PERFORMANCE: 9 MONTHS ENDED 31 MARCH 2024 (YTD FY2024) 1 July - 31 March YTD FY2024 YTD FY2023 Change Total Revenue 424.7 369.3 + 15.0% (1) - Hotel Revenue (Management Contracts) 289.8 239.3 + 21.1% - Lease Rental (Master Leases) 134.9 130.0 + 3.7% Net Property Income (NPI) 223.7 191.3 + 1
Slide 9: 9 Months (1 Jul – 31 Mar) Financial Performance
9 MONTHS (1 JUL – 31 MAR) FINANCIAL PERFORMANCE TOTAL revenue NET property income RM (million) RM (million) 500 500 15.0% 424.7 372.2 369.3 356.7 257.4 17.0% 250 236.9 250 223.7 193.0 190.9 191.3 150.6 158.1 0 0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 9
Slide 10: Financial Performance by Country: 9 Months
FINANCIAL PERFORMANCE BY COUNTRY: 9 MONTHS (1 JULY – 31 MARCH) 3Q FY2023 3Q FY2024 TOTAL revenue NET property income RM (million) RM (million) 21.1% 300 289.8 300 239.3 200 200 4.3% 4.2% 40.2% 109.6 114.3 104.0 108.4 97.4 100 100 69.5 0.8% 0.7% 20.4 20.6 17.8 17.9 0 0 Malaysia Australia Japan Malays
Slide 11: DPU Performance
DPU PERFORMANCE Total DPU Semi-annual Breakdown DPU (sen) 10 8.4613 7.9746 8.0838 7.8938 7.8683 7.8711 7.6359 7.3803 7.4433 6.7115 6.4855 6.4855 Total Distributions* FY2 0 2 3 FY2 0 2 4 5 Cumulative 126.9 71.2 4.1636 4.1781 2H 4.3833 2H 74.7 3.9550 1H 52.2 71.2 * In RM million 4.1781 1H 1H 3.0600 0
Slide 12: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 31 March 2024 As at 30 June 2023 RM ('000) Change (Unaudited) (Audited) (1) Investment properties 2,915,104 2,792,750 + 4.4% Property, plant and equipment 2,024,209 2,085,578 (2.9%) Cash & cash equivalents 171,651 183,599 (6.5%) Other assets 161,858 65,351 + 147
Slide 13: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s YTL Hospitality REIT’s Unit Price Movement & Relative Performance to FBMKLCI Unit Price Movement & Relative Performance to REIT Index (1 January 2012 to 31 March 2024) (1 October 2017 to 31 March 2024) RM % RM % 1.40 60 1.40 30 Unit Price Relative Perfor
Slide 14: Capital management
3 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 15: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in AUD * Borrowings in RM Borrowings in JPY # RM (million) 1,186 1,200 1,000 385 800 600 400 801 335 165 200 350 285 170 105 0 - - - FY2025 FY2026 FY2027 FY2028 FY2029 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exch
Slide 16: Debt Profile as at 31 March 2024
DEBT^ PROFILE AS AT 31 MARCH 2024 CURRENCY INTEREST RATE Fixed JPY 3.8% α 7.5% AUD 48.0% RM 44.5% Floating β 96.2% 31 March 2024 31 December 2023 Change Borrowings^ (RM'000) 2,260,644 2,288,563 (1.2%) Total Asset Value (RM'000) 5,272,822 5,370,632 (1.8%) Gearing (%) 42.9% 42.6% + 0.3 pp Average Inte
Slide 17: Debt Headroom of ~RM436 million for Acquisitions
DEBT HEADROOM OF ~RM436 million FOR ACQUISITIONS As at 31 March 2024 After completion of the acquisition and proposed renovation of Ipoh Hotel and RM (million) RM (million) proposed development of Moxy Niseko 8,000 8,000 6,018 6,018 6,000 6,000 745 436 4,000 4,000 3,006 3,006 Gearing 436 5,582 745 5
Slide 18: Asset management
4 Asset management Cameron Highlands Resort, Malaysia
Slide 19: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES ASSET breakdown(by Country)(1) Malaysia (Northern) ◼ AC Hotel Penang Bukit Jambul Japan Japan ◼ Pangkor Laut Resort 10.1% ◼ Hilton Niseko Village Australia ◼ Cameron Highlands Resort 41.0% ◼ The Green Leaf Niseko ◼ Ipoh Hotel Village Malaysia 48.9%
Slide 20: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 Q3 FY2024 Malaysia Under Master Leases Japan Under Master Leases Australia 83.1% (1) 84.2% 84.4% 86.4% 86.9% 87.8% 84.9% 73.1% (2) 53.3% (2) 43.8% (2) 73.5% (2.3) 84.2% (3) Notes: (1) For 1 July 2012 to
Slide 21: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NET property income NET property income (% of total *) Master leases (% of total *) 30 25 Master Leases 55% 20 14 10 Management Contracts 8 45% 5 3 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2038 2048 Notes: * For 3Q FY2024. 21
Slide 22: Australia Hotel Performance (1 of 2)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2) FY2022 FY2023 FY2024 REVENUE per available room (RevPAR) AUD 19.4% 300 289 275 239 237 242 203 200 183 171 100 0 4Q 1Q 2Q 3Q 22
Slide 23: Australia Hotel Performance (2 of 2)
AUSTRALIA HOTEL PERFORMANCE (2 OF 2) FY2022 FY2023 FY2024 Average occupancy Average daily rate (ADR) % AUD 100 400 5.5pp 11.7% 84.4 84.2 343 81.7 350 78.7 326 76.1 311 307 73.2 292 300 277 66.1 273 277 62.5 250 50 200 150 100 50 0 0 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 23
Slide 24: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 25: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 578 rooms located on part of an 8-level podium block and entire 24-level tower block of Starhill Gallery Description together with car park bays located partially at basement 1 and 4 and the e
Slide 26: The Majestic Hotel Kuala Lumpur
THE MAJESTIC HOTEL KUALA LUMPUR No. 5, Jalan Sultan Hishamuddin, 50000 Address Kuala Lumpur A 5-star hotel comprising Majestic Wing (original historic hotel building) with 47 luxurious suites, Tower Wing with 253 guestrooms and suites, Majestic Ballroom with seating capacity of 1,200 for banquet or
Slide 27: The Ritz-Carlton, Kuala Lumpur – Hotel Wing
THE RITZ-CARLTON, KUALA LUMPUR – HOTEL WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur 22-storey 5-star hotel building comprising Description 251 rooms with 4-storey basement car park Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 3 years Annual rental (2) RM22.
Slide 28: The Ritz-Carlton, Kuala Lumpur – Suite Wing
THE RITZ-CARLTON, KUALA LUMPUR – SUITE WING Address No. 168, Jalan Imbi, 55100 Kuala Lumpur Parcel 1: 60 units of hotel suites, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car park Description Parcel 2: 50 units of hotel suites, 4 units of penthouses and 1 leve
Slide 29: AC Hotel Kuala Lumpur Titiwangsa
AC HOTEL KUALA LUMPUR TITIWANGSA No. 9, Jalan Lumut, Off Jalan Ipoh, 50400 Address Kuala Lumpur 17-storey hotel building with 364 rooms and Description 2-storey basement car park Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 3 years Annual rental (2) RM9.04 million
Slide 30: Hotel Stripes Kuala Lumpur
HOTEL STRIPES KUALA LUMPUR No. 25, Jalan Kamunting, 50300 Kuala Address Lumpur 20-storey hotel building with 184 rooms and Description 156 car park bays Tenure Freehold Master lease expiry 30 October 2038 Master lease remaining (1) 15 years Annual rental (2) RM9.66 million No. of rooms 184 Acquisiti
Slide 31: AC Hotel Penang Bukit Jambul
AC HOTEL PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambir, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Hotel Wing with 238 hotel rooms Description and 26-storey Suite Wing with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease ex
Slide 32: Pangkor Laut Resort
PANGKOR LAUT RESORT Pangkor Laut Island, 32200 Lumut, Perak Address Darul Ridzuan 36 units of Garden Villas, 52 units of Hill Description Villas, 8 units of Beach Villas and 1 unit of Pavarotti Suite 99-year registered lease expiring on 21 May Tenure 2095 Master lease expiry 14 November 2026 Master
Slide 33: Tanjong Jara Resort
TANJONG JARA RESORT Batu 8, Off Jalan Dungun, 23000 Dungun, Address Terengganu Darul Iman Description Small luxury boutique resort with 100 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 3 years Annual rental (2) RM7.72 mill
Slide 34: AC Hotel Kuantan City Centre
AC HOTEL KUANTAN CITY CENTRE Address Jalan Teluk Sisek, 25000 Kuantan, Pahang Description 8-storey hotel building with 215 rooms Tenure 99-year leasehold expiring on 11 July 2092 Master lease expiry 14 November 2026 Master lease remaining (1) 3 years Annual rental (2) RM6.62 million No. of rooms 215
Slide 35: Cameron Highlands Resort
CAMERON HIGHLANDS RESORT By the Golf Course, 39000 Tanah Rata, Address Cameron Highlands, Pahang Darul Makmur 3-storey luxury resort with a 2-storey spa Description village block with 56 rooms and suites and a single storey building 99-year leasehold expiring on 9 December Tenure 2108 Master lease e
Slide 36: Ipoh Hotel (Formerly Known As Syeun Hotel)
IPOH HOTEL (Formerly Known As Syeun Hotel) No. 88, Jalan Sultan Abdul Jalil, 30450 Ipoh, Address Perak Darul Ridzuan Description 13-storey hotel building with 291 rooms 999-year leasehold expiring on 21 Tenure September 2894 No. of rooms 291 Acquisition date 8 April 2024 Valuation (1) RM58.0 million
Slide 37: Hilton Niseko Village
HILTON NISEKO VILLAGE Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido 16-storey hotel building with 1-storey of Description basement comprising 506 rooms Tenure Freehold Master lease expiry 21 December 2026 Master lease remaining (1) 3 years Annual rental (2) RM17.13 million No. of rooms 506 Acqui
Slide 38: The Green Leaf Niseko Village
THE GREEN LEAF NISEKO VILLAGE Aza-Higashiyama, Niseko-cho, Abuta-gun, Address Hokkaido 5-storey hotel building with 1-storey of Description basement comprising 200 rooms Tenure Freehold Master lease expiry 25 September 2048 Master lease remaining (1) 25 years Annual rental (2,4) JPY331 million (RM10
Slide 39: Sydney Harbour Marriott
SYDNEY HARBOUR MARRIOTT Address 30 Pitt Street, Sydney, New South Wales 33-storey hotel building with central atrium Description comprising 595 rooms including 3 levels of basement with car parking bays Tenure Freehold No. of rooms 595 Acquisition date 29 November 2012 Valuation (1, 2) AUD504.0 mill
Slide 40: Brisbane Marriott
BRISBANE MARRIOTT Address 515 Queen Street, Brisbane, Queensland 28-storey hotel building comprising 267 Description rooms with 3 levels of basement with car parking bays Tenure Freehold No. of rooms 267 Acquisition date 29 November 2012 Valuation (1, 2) AUD90.0 million (RM277.13 million) Notes: 1.
Slide 41: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 189 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 189 Acquisition date 29 November 2012 Valuation (1, 2) AUD80.0 million (RM246.34 million) Note
Slide 42: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 31 March 2024, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not co
Slide 43: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 199401028328 (314009-W) Manager of YTL Hospitality REIT 33rd Floor Menara YTL 205 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2038 0888 Fax: 603 2038 0388 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com
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