Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q4 FY2023 Earnings Presentation
46 slides from Ytl Hospitality Reit's earnings presentation, Jul 31, 2023
Slide 1: Fourth Quarter FY2023 Financial Results
Fourth Quarter FY2023 Financial Results 31 July 2023
Slide 2: Key Highlights – 4Q FY2023
KEY HIGHLIGHTS – 4Q FY2023 • Income available for distribution of RM42.7 million FINANCIAL for 4Q FY2023, +150.8% q-o-q PORTFOLIO • Income available for distribution of RM68.919 HIGHLIGHTS million for 2H FY2023, +95.7% compared to 2H MANAGEMENT FY2022 • Properties in Malaysia and Japan under master
Slide 3: Financial performance 4Q & 2H FY2023
1 Financial performance 4Q & 2H FY2023 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 4Q FY2023
FINANCIAL PERFORMANCE: 4Q FY2023 1 April - 30 June 4Q FY2023 4Q FY2022 Change Total Revenue 117.6 106.4 + 10.4% (1) - Hotel Revenue (Management Contracts) 74.2 63.0 + 17.8% - Lease Rental (Master Leases) - Realised 57.7 23.1 + 149.2% (2) (3) (4) - Lease Rental (Master Leases) - Unrealised (14.3) 20.
Slide 5: Financial Performance: 2H FY2023
FINANCIAL PERFORMANCE: 2H FY2023 1 January - 30 June 2H FY2023 2H FY2022 Change Tota l R evenue 244.5 183.9 + 32.9% (1) - Hotel Revenue (Management Contracts) 157.7 96.8 + 62.9% - Lease Rental (Master Leases) - Realised 101.4 46.4 + 118.4% (2) (3) (4) - Lease Rental (Master Leases) - Unrealised (14.
Slide 6: Half Yearly Financial Performance: 2H FY2023
HALF YEARLY FINANCIAL PERFORMANCE: 2H FY2023 FY2022 FY2023 TOTALrevenue NETproperty income RM (million) RM (million) 300 32.9% 300 242.4 244.5 200 183.9 200 179.9 25.2% 124.4 126.9 113.5 101.3 100 100 0 0 1H 2H 1H 2H 6
Slide 7: Financial Performance by Country: 2H FY2023
FINANCIAL PERFORMANCE BY COUNTRY: 2H FY2023 Deferred Rental Lease Rental / Hotel Revenue TOTALrevenue NETproperty income RM (million) RM (million) 200 200 62.9% 157.7 96.8 100 100 73.0 73.0 157.7 69.3 69.3 134.2% +63% 36.4 36.4 45.9 96.8 73.0 2.8%* 69.3 +99% 19.6 5.6%* 14.1 13.7 +111% 45.9 36.6 12.5
Slide 8: Financial performances: FY2023
2 Financial performances: FY2023 JW Marriott Kuala Lumpur, Malaysia
Slide 9: Financial Performances: FY2023
FINANCIAL PERFORMANCES: FY2023 1 July - 30 June FY2023 FY2022 Change Tota l R evenue 486.8 363.9 + 33.8% (1) - Hotel Revenue (Management Contracts) 313.4 189.3 + 65.5% - Lease Rental (Master Leases) - Realised 189.1 92.5 + 104.5% (2) (3) (4) - Lease Rental (Master Leases) - Unrealised (15.6) 82.1 (1
Slide 10: Yearly Financial Performances
YEARLY FINANCIAL PERFORMANCES TOTALrevenue NETproperty income RM (million) RM (million) 600 33.8% 600 501.0 490.9 486.8 426.4 363.9 326.3 17.0% 300 300 248.8 253.3 251.3 235.2 205.3 214.8 0 0 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 12 months 12 months (1 J
Slide 11: Financial Performance by Country: FY2023
FINANCIAL PERFORMANCE BY COUNTRY: FY2023 Deferred Rental Hotel Revenue/ Lease Rental TOTALrevenue NETproperty income RM (million) RM (million) 400 400 65.5% 313.4 200 189.3 200 146.0 146.1 313.4 138.7 138.7 74.2% +66% 73.5 73.5 88.9 189.3 5.9%* 146.1 4.2%* 138.7 51.0 +101% 28.5 +113% 88.9 25.1 72.5
Slide 12: 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* 4.3833 FY2 0 2 2 FY2 0 2 3 5 Cumulative 67.4 126.9 4.1636 3.9550 2H 35.2 74.7 2H 2.0670 1H 32.2 52.2 * In RM million 3.0600 1H 1.8880
Slide 13: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2023 As at 30 June 2022 RM ('000) Change (U naudited) (Audited) Investment properties 2,792,750 2,754,328 + 1.4% Property, plant and equipment 2,085,578 1,971,944 + 5.8% Cash & cash equivalents 183,599 83,633 + 119.5% Other assets 65,351 92,345 (29.2%) T
Slide 14: Revaluation Surplus of RM151 million During 4Q FY2023
REVALUATION SURPLUS OF RM151 million DURING 4Q FY2023 RM (million) RM (million) JAPANESE properties - Hilton Niseko Village + RM14.5 mil 529 508 - The Green Leaf Niseko Village + RM 6.3 mil AUSTRALIAN properties 1,907 - Sydney Harbour Marriott + RM78.3 mil 2,021 - Brisbane Marriott + RM23.4 mil - Me
Slide 15: 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 30 June 2023) (1 October 2017 to 30 June 2023) RM % RM % Unit Price 1.40 60 1.40 30 Relative (left sc
Slide 16: Capital management
3 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 17: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in AUD * Borrowings in RM Borrowings in JPY # RM (million) 1,200 1,188 385 800 * 400 803 * * 350 # 279 174 # 80 0 - - - FY2024 FY2025 FY2026 FY2027 FY2028 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of
Slide 18: Debt Profile as at 30 June 2023
DEBT^ PROFILE AS AT 30 JUNE 2023 CURRENCY INTEREST RATE Fixed α JPY 4.2% 8.4% AUD 52.2% RM 39.4% Floating 95.8% β 30 June 2023 31 March 2023 Change Borrowings^ (RM'000) 2,071,253 2,027,780 + 2.1% Total Asset Value (RM'000) 5,127,278 4,894,619 + 4.8% Gearing (%) 40.4% 41.4% (1.0 pp) Average Interest
Slide 19: Debt Headroom of ~RM977 million for Acquisitions
DEBT HEADROOM OF ~RM977 million FOR ACQUISITIONS RM (million) 7,000 6,104 6,000 977 5,000 4,000 3,048 3,000 Gearing limit = 50% 977 5,127 2,000 1,000 Gearing = 40.4% 2,071 (As at 30 June 2023) - Total Borrowings ^ Total Assets Note: ^ Excluding the effects of capitalised transaction costs. 19
Slide 20: Asset management
4 Asset management Cameron Highlands Resort, Malaysia
Slide 21: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES ASSETbreakdown(by Country)(1) Malaysia (Northern) AC Hotel Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort The Green Leaf Niseko Village Malaysia (Eastern) Tanjong Jara Resort AC Hotel Kuant
Slide 22: Portfolio Valuation
PORTFOLIO VALUATION No. of Year Purchase Price Annual Lease Rental (1 ) Valuation (million) Changes since Property Rooms Acquired (million) (RM million) FY2022 FY2023 (2 ) acquisition Ma la y sia RM RM RM JW Marriott Hotel Kuala Lumpur 578 2005 331.0 31.2 526.5 527.5 +5 9 .4 % The Ritz-Carlton, Kual
Slide 23: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 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) Notes: (1) For 1 July 2012 to 30 June 2013 which includ
Slide 24: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (%of total*) Master leases (%of total*) 40 Master Leases 68% 33 20 Management Contracts 13 ^ 32% 11 7 4 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2048 Notes: * For 4Q FY2023. ^ Lessee exercised option to renew lease expirin
Slide 25: Australia Hotel Performance by Quarter (1 of 2)
AUSTRALIA HOTEL PERFORMANCE BY QUARTER (1 OF 2) FY2022 FY2023 REVENUE per available room AUD (RevPAR) 300 19.0% 237 242 203 200 183 171 100 82 83 53 0 1Q 2Q 3Q 4Q 25
Slide 26: Australia Hotel Performance by Quarter (2 of 2)
AUSTRALIA HOTEL PERFORMANCE BY QUARTER (2 OF 2) FY2022 FY2023 Average occupancy Average daily rate (ADR) % AUD 100 400 10.7pp 1.6% 76.1 78.7 311 73.2 307 277 273 277 66.1 62.5 231 49.5 195 50 200 166 36.0 27.3 0 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 26
Slide 27: Australia Yearly Hotel Performance (1 of 2)
AUSTRALIA YEARLY HOTEL PERFORMANCE (1 OF 2) REVENUEper available room AUD (RevPAR) 300 234 122.4% 230 213 219 219 218 216 200 179 97 100 75 0 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 27
Slide 28: Australia Yearly Hotel Performance (2 of 2)
AUSTRALIA YEARLY HOTEL PERFORMANCE (2 OF 2) Average occupancy Average daily rate (ADR) % AUD 100 400 29.7pp 32.6% 86.9 87.8 84.2 84.4 86.4 84.9 73.1 73.5 294 266 271 253 259 253 251 245 222 53.3 50 43.8 200 140 0 0 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2014 FY2015 F
Slide 29: Appendices
5 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 30: 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 31: The Majestic Hotel Kuala Lumpur
THE MAJESTIC HOTEL KUALA LUMPUR No. 5, Jalan Sultan Hishamuddin, 50000 Kuala Address 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 32: 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 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: 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 40: 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 41: 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) JPY315 million (RM10
Slide 42: 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 43: 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 (RM279.07 million) Notes: 1.
Slide 44: 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 (RM248.06 million) Note
Slide 45: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 30 June 2023, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not con
Slide 46: 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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