Gpt Group · ASX:GPT
Gpt — Merger or Acquisition (2004)
23 slides from Gpt's merger presentation, 2004
Slide 1: P&O Australian Resorts
P&O Australian Resorts www.poresorts.com
Slide 2: Fit with Hotel/Tourism Strategy
Fit with Hotel/Tourism Strategy • Barriers to entry 9 Æ Economic and environmental barriers • Geographic diversification 9 Æ Domestic visitors represent 64% • Aligned management interests 9 Æ Voyages • Major cities / tourist locations 9 Æ Unique nature based locations GPT
Slide 3: Portfolio Summary
Portfolio Summary • Provides scale in luxury eco-tourism sector Æ “Australia’s Natural Treasures” (9 assets, >400 rooms) • High quality, well-capitalised assets • Established trading history • Future expansion potential Asset Total Rooms Dunk Island (1) 144 Brampton Island 106 Lizard Island 40 Bedar
Slide 4: Portfolio Summary
Portfolio Summary Market Mix POAR 2003 International 36% Domestic 64% 2001 2002 2003 2004* Y/E Dec Actual Actual Actual Budget Rooms 572 561 561 561 Occupancy 65% 68% 75% 74% Ave. Rate $223 $241 $243 $258 Total Rev. ($000) $71,401 $79,323 $86,757 $92,785 EBITDA $ $11,225 $16,272 $18,941 $21,368 EBIT
Slide 5: Summary of Acquisition
Summary of Acquisition • Investment* $225 - $227m • Yield Year 1 9.0% Year 2 10.0% • Capex Year 1 $3.0m Year 2 $5.0m • Land Surplus land value circa $9m * Includes stamp duty/transaction costs, working capital and project completion costs ($4.3m) GPT
Slide 6: Bedarra Island
Bedarra Island ‘A romantic rainforest retreat where a fortunate few can savour the finer things in life!’ GPT
Slide 7: Bedarra Island
Bedarra Island Title Freehold Rooms 16 villas and pavilions Located 4 km off Mission Beach, Qld Access by launch Capex - 2001 Main complex upgrade - 2002 Pavilions added - 2003 Point Villa added Market Luxury Position - Couples seeking relaxed pampering in an exclusive environment (no children under
Slide 8: Brampton Island
Brampton Island ‘Almost entirely National Park, Brampton has seven glorious beaches and its own coral reef’ GPT
Slide 9: Brampton Island
Brampton Island Title Perpetual Leasehold Rooms 106 guest rooms Located 32 km north-east of Mackay, Qld Access by launch and light plane Market Mid market Position - Couples, groups of couples and honeymooners - Whitsunday's best value hideaway Opportunity The Resort has future expansion potential o
Slide 10: Cradle Mountain Lodge
Cradle Mountain Lodge ‘A superb escape featuring cosy cabins, fine food and wine and many activities’ GPT
Slide 11: Cradle Mountain Lodge
Cradle Mountain Lodge Title Freehold Rooms 90 cabins and suites Located 142 km inland from Launceston, Tasmania Market Mid market Position - Couples and families - Mountain wilderness experience in the heart of Tasmania Awards - Top 100 Tasmanian Conference Venue (2003) (3rd) - UK Condé Nast Travell
Slide 12: Dunk Island
Dunk Island ‘Australia’s most beautiful tropical rainforest island’ GPT
Slide 13: Dunk Island
Dunk Island Title Freehold Rooms 144 rooms and suites (160 rooms when expansion complete) Located 4km off Mission Beach, Qld Access by launch and light plane Capex - 2000 Main complex upgrade - 2001 + 2002 staff accommodation - 2002 - 18-hole resort golf course - 2003 Suites upgrade - 2004 16 new de
Slide 14: Heron Island
Heron Island ‘A true coral cay right on the Great Barrier Reef’ GPT
Slide 15: Heron Island
Heron Island Title Perpetual Leasehold Rooms 109 rooms and suites Located 72 km off the coast of Gladstone, Qld Access by launch and helicopter Capex - 2000 Complete refurbishment - 2003 Suite upgrade - 2003 Spa added Market Mid market Position - Families and couples - The coral island - anyone want
Slide 16: Lizard Island
Lizard Island ‘Right on the Great Barrier Reef - a private paradise with 24 powdery beaches’ GPT
Slide 17: Lizard Island
Lizard Island Title 29 year leasehold Rooms 40 suites Located 240 kilometres north of Cairns Access by plane Capex - 2000 Complete refurbishment - 2003 Additional luxury suite Market Luxury Position - Couples in search of isolation and reef based activity in an exclusive environment - A remote priva
Slide 18: Silky Oaks Lodge
Silky Oaks Lodge ‘The Daintree’s ultimate resort where this rare wilderness can be enjoyed in elegance and ease’ GPT
Slide 19: Silky Oaks Lodge
Silky Oaks Lodge Title Freehold Rooms 50 tree & river houses Located 83 km north of Cairns, Qld Capex - 2001 Complete refurbishment - 2003 Spa added Market Luxury Position - Couples, no children - The Daintree’s ultimate resort Awards - UK Condé Nast Traveller - 2002 (14th) - Top 10 Platinum List of
Slide 20: Wilson Island
Wilson Island ‘Pristine reef and beach environments including rare turtle and bird breeding grounds’ Title 15 year leasehold Rooms 6 premium tents Located 8 nautical miles off Heron Island, Qld Access by launch Market Luxury Position - Couples - A private Great Barrier Reef island nature experience
Slide 21: Wrotham Park Station (under construction)
Wrotham Park Station (under construction) ‘The ‘Homestead’ and guest ‘Quarters’ are located on a spectacular site high above the banks of the Mitchell River’ Title 13 year license to occupy on pastoral lease (plus option if pastoral lease renewed) Rooms 10 Quarters (Completion due September 2004) Lo
Slide 22: Wrap Up
Wrap Up • Excellent strategic fit • Scale and quality benefits • Leverages Voyages brand as a dominant player • Hotels now 9.0% of GPT Portfolio • Hotel acquisition strategy remains selective GPT
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