Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — FY2017 Earnings Presentation
45 slides from Ytl Hospitality Reit's earnings presentation, Sep 7, 2017
Slide 1: FY2017 Financial Results
FY2017 Financial Results 7 September 2017
Slide 2: Key Highlights – FY2017
KEY HIGHLIGHTS – FY2017 • Income available for distribution of FINANCIAL RM122.7 million, +17.4% y-o-y PORTFOLIO • 8.0838 sen distribution per unit (“DPU”) HIGHLIGHTS declared for FY2017, +2.4% y-o-y MANAGEMENT • Revaluation surplus of RM198 million in • Properties in Malaysia and Japan under master
Slide 3: Financial performance FY2017
1 Financial performance FY2017 Brisbane Marriott Queensland, Australia
Slide 4: Financial Performance: FY2017
FINANCIAL PERFORMANCE: FY2017 1 July - 30 June FY2017 FY2016 Change Total Revenue 449.7 426.3 + 5.5% - Hotel Revenue (Management Contracts) 332.7 312.4 + 6.5% - Lease Rental (Master Leases) 116.9 113.9 + 2.7% Net Property Income (NPI) 209.6 198.9 + 5.4% - Management Contracts 102.3 93.6 + 9.3% - Mas
Slide 5: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2017 As at 30 June 2016 RM ('000) Change (Audited) (Audited) Investment properties 1,937,647 1,843,183 + 5.1% (1) Property, plant and equipment 1,921,844 1,623,328 + 18.4% Cash & cash equivalents 142,462 119,563 + 19.2% Other assets 37,253 35,844 + 3.9%
Slide 6: DPU Performance
DPU PERFORMANCE Total DPU Quarterly Breakdown DPU (sen) 10 8.4613 7.9746 7.8938 8.0838 7.6359 7.3803 1.9306 4Q Total Distributions* 6.4855 6.4855 2.1413 FY2016 FY2017 Cumulative 104.5 122.7 1.8364 5 1.9175 3Q 4Q 28.4 32.9 3Q 25.4 31.3 2.2640 2Q 2Q 25.4 31.3 1.9175 1Q 25.4 27.2 * In RM mi l l i on 1Q
Slide 7: Revaluation Surplus of RM198 million in May 2017
REVALUATION SURPLUS OF RM198 million IN MAY 2017 RM (million) RM (million) 275 253 AUSTRALIAN properties - Sydney Harbour Marriott + RM146.5 mil 1,859 1,695 - Brisbane Marriott + RM5.3 mil - Melbourne Marriott + RM12.0 mil MALAYSIAN properties - JW Marriott Hotel Kuala Lumpur + RM1.0 mil Kuala Lumpu
Slide 8: Unit Price Performance
UNIT PRICE PERFORMANCE YTL Hospitality REIT’s RM Unit Price Movement & Relative Performance to FBMKLCI % (1 January 2012 to 30 June 2017) TRADING STATISTICS 1.30 40 Relative Performance Closing price 1 RM1.18 (right scale) 1.20 Market Cap (RM) 1 RM2,011 mil Outperform 20 FBMKLCI Units issued 1 1,704
Slide 9: Yearly Financial Performance
YEARLY FINANCIAL PERFORMANCE TOTALrevenue NETproperty income RM (million) RM (million) 5.5% 5.4% 500 250 449.7 425.1 417.7 426.3 202.9 209.6 201.5 198.9 400 200 157.0 292.0 300 150 200 100 87.1 75.5 109.8 100 80.9 50 28.3 30.1 0 0 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2010 FY2011
Slide 10: Financial Performance by Country
FINANCIAL PERFORMANCE BY COUNTRY FY2016 FY2017 TOTALrevenue NETproperty income RM (million) RM (million) 6.5% 350 332.7 350 312.4 300 300 250 250 200 200 150 9.3% 2.9% 150 3.1% 98.1 101.0 95.2 102.3 100 92.4 93.6 100 6.8% 50 1.3% 50 15.8 16.0 13.0 12.1 0 0 Malaysia Australia Japan Malaysia Australia
Slide 11: Capital management
2 Capital management Tanjong Jara Resort, Terengganu, Malaysia
Slide 12: Debt Maturity Profile
DEBT^ MATURITY PROFILE Borrowings in RM Borrowings in AUD 920.6 * 416.8 65.0 10.0 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange rate of A$1.00: RM3.3064 as at 30 June 2017. 12
Slide 13: Debt Profile as at 30 June 2017
DEBT^ PROFILE AS AT 30 JUNE 2017 CURRENCY INTEREST RATE @ 30 June 2017 30 June 2016 Change Borrowings (RM'000) 1,412,394 1,613,734 (12.5%) Total Asset Value (RM'000) 4,039,206 3,621,918 + 11.5% Gearing (%) 35.0% 44.6% (9.6 pp) Average Interest Rates (%) * - Borrowings in Ringgit Malaysia 4.7% 4.9% (
Slide 14: Debt Headroom of ~RM2,134 million for Acquisitions
DEBT HEADROOM OF ~RM2,134 million FOR ACQUISITIONS As at 30June 2017 Borrowings of RM385 million* After completion oftheacquisition RM (million) RM (million) 7,000 7,000 6,554 6,558 6,000 6,000 2,134 2,515 5,000 5,000 3,927 3,931 4,000 4,000 3,000 3,000 2,134 Gearing 2,515 limit = 60% 4,424 2,000 4,
Slide 15: Asset management
3 Asset management Vistana Penang Bukit Jambul Pulau Pinang, Malaysia
Slide 16: Luxury Hotels & Serviced Residences in 3 Countries
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES Malaysia (Northern) ASSET breakdown(by Country)(1) Vistana Penang Bukit Jambul Japan Pangkor Laut Resort Hilton Niseko Village Cameron Highlands Resort Malaysia (Eastern) Tanjong Jara Resort Vistana Kuantan City Centre Kuala Lumpur JW
Slide 17: Portfolio Valuation
PORTFOLIO VALUATION No. of Year Purchase Price Annual Lease Rental (1 ) Valuation (million) Changes since Property (2 ) Rooms Acquired (million) (RM million) FY2016 FY2017 acquisition Malaysia RM RM RM JW Marriott Hotel Kuala Lumpur 569 2005 331.0 24.56 410.0 411.0 +24.2% The Ritz-Carlton, Kuala Lum
Slide 18: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 Malaysia Under Master Leases Japan Under Master Lease Australia – – 83.1% (1) 84.2% 84.4% 86.4% 86.9% Note: (1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the properties were acquired on 29 Nov
Slide 19: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NETproperty income NETproperty income (% of total *) Master leases (% of total *) 40 Master Leases 34 51% 30 Management Contracts 49% 20 10 11 6 0 2017 2023 2024 2025 2026 2027 2028 2029 2030 2031 Note: * For the financial year ended 30 June 2017. 19
Slide 20: Australia Yearly Hotel Performance (1 of 2)
AUSTRALIA YEARLY HOTEL PERFORMANCE (1 OF 2) REVENUE per available room AUD (RevPAR) 300 0.3% 219 219 218 213 200 100 0 FY2014 FY2015 FY2016 FY2017 20
Slide 21: Australia Yearly Hotel Performance (2 of 2)
AUSTRALIA YEARLY HOTEL PERFORMANCE (2 OF 2) Average occupancy Average daily rate (ADR) % AUD 100 0.5pp 86.4 86.9 0.8% 84.2 84.4 300 253 259 253 251 200 50 100 0 0 FY2014 FY2015 FY2016 FY2017 FY2014 FY2015 FY2016 FY2017 21
Slide 22: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT A fresh new look after the completion of an extensive refurbishment 22
Slide 23: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Silvester’s Proudly Australian Fine Dining “Farm to Table” Concept Fresh Sustainable Produce Australian Wines Live Kitchen 120 Seats Function Seating Capacity up to 200 Pax 23
Slide 24: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Three Bottle Man Capacity: Indoor 20 Pax Outdoor 50 Pax 24
Slide 25: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Customs House Bar Capacity: Indoor 80-100 Pax Outdoor 150-170 Pax 25
Slide 26: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Function/Meeting Spaces 26
Slide 27: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Various Events Parties |Launches | Brand Activation 27
Slide 28: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Wide Media Coverage Sydney Morning Herald – February 2017 The Urban List – May 2017 GQ Online – June 2017 Print Audience: 95,733 Audience: 526,694 Audience: 202,000 Online Audience: 4,970,699 28
Slide 29: Sydney Harbour Marriott After Major Refurbishment
SYDNEY HARBOUR MARRIOTT AFTER MAJOR REFURBISHMENT Positive Influencer Coverage JessieKhoo – May 2017 TwoGirlsOneFork – June 2017 AteaSpoonofStyle – July 2017 Audience: 100,476 Audience: 55,754 Audience: 13,000 29
Slide 30: Appendices
4 Appendices Hilton Niseko Village Hokkaido, Japan
Slide 31: JW Marriott Hotel Kuala Lumpur
JW MARRIOTT HOTEL KUALA LUMPUR No. 183, Jalan Bukit Bintang, 55100 Kuala Address Lumpur A 5-star hotel with 569 rooms located on part of an 8-level podium block and entire 24- level tower block of Starhill Gallery together Description with car park bays located partially at basement 1 and 4 and the
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 serviced apartments, 4 levels of commercial podium, 1 level of facilities deck and 2 levels of basement car parks Description Parcel 2: 50 units of serviced apartments and 4 units of p
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 parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 9 years Annual rental (2) RM
Slide 34: Vistana Penang Bukit Jambul
VISTANA PENANG BUKIT JAMBUL No. 213, Jalan Bukit Gambier, Bukit Jambul, Address 11950 Pulau Pinang 17-storey Tower A with 238 hotel rooms and Description 26-storey Tower B with 189 hotel suites with an annexed 3-storey podium 99-year leasehold expiring on 27 October Tenure 2094 Master lease expiry 1
Slide 35: Vistana Kuala Lumpur Titiwangsa
VISTANA 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 parks Tenure Freehold Master lease expiry 14 November 2026 Master lease remaining (1) 9 years Annual rental (2) RM8.61 million
Slide 36: Vistana Kuantan City Centre
VISTANA 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) 9 years Annual rental (2) RM6.30 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) 9 years Annual rental (2) RM7.35 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) 9 years Annual rental (2) RM16.32 million No. of rooms 506 Acqui
Slide 41: 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) AUD420 millio
Slide 42: 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) AUD85 million (RM281.0 million) Notes: 1. As
Slide 43: Melbourne Marriott
MELBOURNE MARRIOTT Corner Exhibition and Lonsdale Streets, Address Melbourne, Victoria 16-storey hotel building comprising 186 Description rooms with 5 split levels of car park Tenure Freehold No. of rooms 186 Acquisition date 29 November 2012 Valuation (1, 2) AUD78.4 million (RM259.2 million) Notes
Slide 44: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s Annual Report for the financial year ended 30 June 2017, a copy of which is available on www.bursamalaysia.com and www.ytlhospitalityreit.com. This presentation is for information purposes only and does not constit
Slide 45: Pintar Projek Sdn Bhd
PINTAR PROJEK SDN BHD 314009-W Manager of YTL Hospitality REIT 11th Floor Yeoh Tiong Lay Plaza 55 Jalan Bukit Bintang 55100 Kuala Lumpur Malaysia Tel: 603 2117 0088 603 2142 6633 Fax: 603 2141 2703 Email: ir@ytlhospitalityreit.com www.ytlhospitalityreit.com