Digitalbridge Group, Inc. · NYSE:DBRG
Digitalbridge — Colony Capital — Corporate Update (May 2020)
35 slides from Digitalbridge's corporate update, May 22, 2020
Slide 1: Hospitality Portfolio Overview
Exhibit 99.1 HOSPITALITY PORTFOLIO OVERVIEW May 22, 2020 1
Slide 2: Disclaimer
DISCLAIMER Cautionary Statement Regarding Forward-Looking Statements This presentation may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or
Slide 3: 1. Inland Portfolio Overview
Residence Inn – Chicago, IL 1. INLAND PORTFOLIO OVERVIEW 3
Slide 4: Inland Portfolio Overview
INLAND PORTFOLIO OVERVIEW The Inland portfolio is a collection of upscale extended stay and select service hotels located throughout the U.S. PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The Inland portfolio (“IHP”) is comprised of 48 properties and 6,402 keys Region (% of Keys) The portfolio has an a
Slide 5: Historical P&L
HISTORICAL P&L The table below provides an overview of IHP’s key historical financials. All financials shown on a same- store basis for the 48 properties currently owned ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 76% 76% 60% ADR ($) $125 $125 $119 RevPAR ($) $95 $96 $71 Re
Slide 6: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of IHP’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $20.9 Senior
Slide 7: 2. Innkeepers Portfolio Overview
Courtyard – Atlantic City, NJ 2. INNKEEPERS PORTFOLIO OVERVIEW 7
Slide 8: Innkeepers Portfolio Overview
INNKEEPERS PORTFOLIO OVERVIEW Innkeepers is a diversified portfolio of U.S. hotels with significant extended stay exposure PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The Innkeepers portfolio (“INK”) is comprised of 46 properties and 5,948 keys Region (% of Keys) Geographically diverse portfolio, wit
Slide 9: Historical P&L
HISTORICAL P&L The table below provides an overview of INK’s key historical financials. All financials shown on a same- store basis for the 46 properties currently owned and have been adjusted for dispositions to-date (in $mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 77% 76% 60% A
Slide 10: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of INK’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $33.3 Senior
Slide 11: 3. New England Portfolio Overview
Courtyard – San Jose, CA 3. NEW ENGLAND PORTFOLIO OVERVIEW 11
Slide 12: New England Portfolio Overview
NEW ENGLAND PORTFOLIO OVERVIEW The New England portfolio is concentrated in the Northeast and has a primary focus on extended stay properties, with a portion concentrated in the select service segment PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The New England Portfolio (“NEP”) is comprised of 9 proper
Slide 13: Historical P&L
HISTORICAL P&L The table below provides an overview of NEP’s key historical financials ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 84% 80% 63% ADR ($) $138 $134 $138 RevPAR ($) $115 $106 $87 Revenue $44.4 $41.2 $8.4 Growth (%) (7.2%) 3.3% NOI Before FF&E $18.0 $15.8 $2.7 Ma
Slide 14: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of NEP’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $3.1 Senior D
Slide 15: 4. K Portfolio Overview
Courtyard – Pleasanton, CA 4. K PORTFOLIO OVERVIEW 15
Slide 16: K Portfolio Overview
K PORTFOLIO OVERVIEW The K portfolio represents an assortment of premium branded select service and extended stay hotels primarily located in Texas and California PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN K portfolio is comprised of 20 properties and 1,922 keys Region (% of Keys) The portfolio has
Slide 17: Historical P&L
HISTORICAL P&L The table below provides an overview of K’s key historical financials. All financials shown on a same-store basis for the 20 properties currently owned ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 75% 77% 65% ADR ($) $105 $107 $101 RevPAR ($) $79 $82 $66 Reven
Slide 18: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of K’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $14.8 Senior De
Slide 19: 5. Courtyard by Marriott Portfolio Overview
Courtyard – Herndon, VA 5. COURTYARD BY MARRIOTT PORTFOLIO OVERVIEW 19
Slide 20: Courtyard by Marriott Portfolio Overview
COURTYARD BY MARRIOTT PORTFOLIO OVERVIEW The CBM portfolio is concentrated in high quality, long-term growth markets PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The Courtyard by Marriott portfolio (“CBM”) is comprised of 30 properties and 4,379 keys Region (% of Keys) The portfolio has an average age
Slide 21: Historical P&L
HISTORICAL P&L The table below provides an overview of CBM’s key historical financials. All financials shown on a same- store basis for the 30 properties currently owned and have been adjusted for further dispositions to-date ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 71%
Slide 22: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of CBM’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $25.9 Senior
Slide 23: 6. THL Portfolio Overview
Residence Inn – Las Vegas , NV 6. THL PORTFOLIO OVERVIEW 23
Slide 24: THL Portfolio Overview
THL PORTFOLIO OVERVIEW The THL portfolio, previously referenced to as the Tharaldson portfolio, is a recently renovated and well diversified US hotel portfolio PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The THL portfolio is comprised of 89 properties and 8,585 keys Region (% of Keys) The portfolio h
Slide 25: Historical P&L
HISTORICAL P&L The table below provides an overview of THL’s key historical financials. All financials shown on a same- store basis for the 89 properties currently owned and have been adjusted for dispositions to-date ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 74% 71% 59%
Slide 26: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of THL’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $12.1 Senior
Slide 27: 7. Miami Connection Overview
Marriott – Miami, FL 7. MIAMI CONNECTION OVERVIEW 27
Slide 28: Miami Connection Overview
MIAMI CONNECTION OVERVIEW MIA consists of high quality and recently renovated hotels near the Miami International Airport PORTFOLIO OVERVIEW PORTFOLIO BREAKDOWN The Miami Connection (“MIA”) is comprised of 3 properties and 835 keys Region (% of Keys) The portfolio has an average age of 28 years
Slide 29: Historical P&L
HISTORICAL P&L The table below provides an overview of MIA’s key historical financials ($ in mm, except per key data) 2018A 2019A Q1 2020 KPIs Occupancy (%) 81% 83% 77% ADR ($) $136 $133 $169 RevPAR ($) $111 $111 $131 Revenue $42.5 $43.4 $12.7 Growth (%) 2.1% (12.2%) NOI Before FF&E $13.3 $12.4 $4.2
Slide 30: Current Capital Structure
CURRENT CAPITAL STRUCTURE The table below provides an overview of MIA’s senior debt as of March 31, 2020 Cumulative Debt / ($ in mm, except per key Amount Cumulative Debt Cumulative Debt Margin (bps) % of Total Debt 2019 NOI Before data) Outstanding Per Key Yield¹ FF&E Cash & Reserves² $8.2 Senior D
Slide 31: 8. Non-GAAP Reconciliation
Four Points – Fort Walton Beach, FL 8. NON-GAAP RECONCILIATION 31
Slide 32: Income (Loss) from Continuing Operations by Colony Segment
INCOME (LOSS) FROM CONTINUING OPERATIONS BY COLONY SEGMENT ($ in mm) 2018A 2019A Q1 2020 Income (Loss) From Continuing Operations Digital $6.0 $43.8 ($19.2) Healthcare (283.5) (239.9) (64.1) Hospitality (90.6) (107.1) (295.8) CLNC (65.4) (241.4) (10.1) Other Equity and Debt 266.9 87.0 30.0 Other Inv
Slide 33: Hospitality Segment Reconciliation: Same-Store NOI by Portfolio
HOSPITALITY SEGMENT RECONCILIATION Hospitality Segment Same-Store NOI by Portfolio ($ in mm) 2018A 2019A Q1 2020 Revenue Inland Portfolio $239.2 $241.1 $45.1 Innkeepers Portfolio 254.8 251.3 45.8 New England Portfolio 44.4 41.2 8.4 K Portfolio 59.2 61.8 12.3 Courtyard By Marriott Portfolio 164.4 162
Slide 34: Hospitality Segment Reconciliation
HOSPITALITY SEGMENT RECONCILIATION Reconciliation of Loss From Continuing Operations of Hospitality Segment to Same-Store Hospitality Segment NOI Before FF&E Reserve and NOI After FF&E Reserve (in $mm) 2018A 2019A Q1 2020 Loss from continuing operations of Hospitality segment ($90.6) ($107.1) ($295.
Slide 35: THL Reconciliation
THL RECONCILIATION Reconciliation of Income From Continuing Operations of Other Equity and Debt Segment to Same-Store THL NOI Before FF&E and NOI After FF&E ($ in mm) 2018A 2019A Q1 2020 Income From Continuing Operations of Other Equity and Debt Segment $266.9 $87.0 $30.0 Adjustments: Property opera