Frasers Property Ltd. · SGX:TQ5
Frasers Property — Frasers Hospitality Trust — Investor Presentation (August 2021)
27 slides from Frasers Property's investor presentation, August 2021
Slide 1: Frasers Hospitality Trust Investor Presentation
Frasers Hospitality Trust Investor Presentation August 2021 InterContinental Singapore
Slide 2: Forward-looking statements disclaimer
Certain statements in this presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
Slide 3: Contents
Contents ◆ Overview of FHT ◆ Market updates ◆ Portfolio performance ◆ Risk & capital management ◆ Looking forward Fraser Suites Singapore 3
Slide 4: Overview of FHT
Overview of FHT Fraser Suites Edinburgh
Slide 5: FHT portfolio of cities and properties
Edinburgh 9 15 ▪ Fraser Suites Edinburgh Glasgow Europe Cities Properties ▪ Fraser Suites Glasgow UK Germany London Kobe ▪ ibis Styles London Gloucester Road ▪ ANA Crowne Plaza Kobe SGD ▪ Park International London Japan 3,913 2.25 b ▪ Fraser Place Canary Wharf ▪ Fraser Suites Queens Gate Dresden Asi
Slide 6: FHT's investment mandate
FHT’s investment mandate > Hospitality and hospitality-related assets located globally, excluding Thailand Strong developer-sponsor in Frasers Property (25.8%1 stake in FHT) > Robust pipeline of “rights of first refusal” assets from the Sponsor through Frasers Hospitality > Full flexibility to a
Slide 7: Market updates
Market updates ANA Crowne Plaza Kobe
Slide 8: International tourist arrivals
International tourist arrivals: -65% year-on-year1 (YoY) International tourist arrivals, % change in Jan-May 2021, due to surge of new COVID-19 2 2 World Europe Asia and the Pacific pandemic variants, widespread travel restrictions and 0% 0% 0% uneven rollout of vaccines -20% -20% -20% -40% -40% -
Slide 9: Portfolio performance
Portfolio performance InterContinental Singapore
Slide 10: 1H FY2021 performance
YoY HoH SGD m 1H FY2021 1H FY2020 Change 2H FY2020 Change Gross revenue (GR) 39.9 62.6 36.2% 26.0 53.8% Net property income (NPI) 26.7 45.3 40.9% 14.6 83.5 % Income available for distribution (DI) 8.6 31.6 72.7% -1.7 NM1 Distribution to stapled securityholders 3.4 6.32 45.4% 20.63 83.3% 0.1790 0.328
Slide 11: Gross revenue and NPI by country
Germany Germany 9% 9% Malaysia Malaysia 7% 8% Australia Australia Japan 36% Japan 31% 11% GR1 9% NPI1 SGD 39.9 m SGD 26.7 m UK 15% UK 19% Singapore Singapore 24% 22% 1. Figures for 1H FY2021 (1 Oct 2020 to 31 Mar 2021) 11
Slide 12: Portfolio performance by country for 9M FY2021
FHT’s portfolio performance by country for 9 months ended 30 Jun 2021 (9M FY2021) Australia Portfolio Performance Singapore Portfolio Performance UK Portfolio Performance 200 173 173 172 100% 232 92% 105 108 160 250 209 217 213 209 120 100% 98 102 50% 180 151 90% 206 199 203 94 94 94 93 94 160 144 1
Slide 13: Australia portfolio performance
Sofitel Sydney Wentworth (SSW) Fraser Suites Sydney (FSS) Novotel Sydney Darling Square (NSDS) Novotel Melbourne on Collins (NMOC) > International tourist arrivals1: 81,460 (-95.4% YoY) in Jan-May 2021; 1.8m (-80.7% YoY) in 2020 > Australia portfolio’s revenue per available room (RevPAR): -5
Slide 14: Singapore portfolio performance
InterContinental Singapore (ICSG) Fraser Suites Singapore (FSSG) > International visitor arrivals1: 118,660 (-95.5% YoY) in Jan-Jun 2021; 2.7m (-85.7% YoY) in 2020 > Singapore portfolio’s RevPAR: -31.4% YoY in 9M FY2021. RevPAR for 9M FY2020 had benefitted from ICSG’s deal to be Stay-Home facili
Slide 15: UK portfolio performance
Fraser Suites Queens Gate (FSQG) Park International London (PIL) Fraser Place Canary Wharf (FPCW) ibis Styles London Gloucester Road (ISLG) Fraser Suites Edinburgh (FSE) Fraser Suites Glasgow (FSG) > Hotels in UK were permitted to re-open on 17 May 2021, after more than 4 months of lockd
Slide 16: ANA Crowne Plaza Kobe performance
ANA Crowne Plaza Kobe (CPK) > International visitor arrivals1: 87,053 (-97.8% YoY) in Jan-May 2021; 4.1m (-87.1% YoY) in 2020 > CPK’s RevPAR: -40.8% YoY in 9M FY2021 as Japan had to weather second and third state of emergency within the first 6 months of 2021. The third state of emergency which st
Slide 17: The Westin Kuala Lumpur performance
The Westin Kuala Lumpur (TWKL) > International tourist arrivals: 25,256 (-99.4% YoY) in Jan-Mar 2021; 4.3m (-83.4% YoY) in 2020 > TWKL’s RevPAR for 9M FY2021 was adversely affected by repeated lockdowns in the country and a temporary suspension of operations for close to 5 months in 2020. > TWKL h
Slide 18: Maritim Hotel Dresden performance
Maritim Hotel Dresden (MHD)1 > Number of overnight stays by domestic and foreign visitors2: > Germany: 46m (-48.4% YoY) in Jan-May 2021; 302m (-39.0% YoY) in 2020 > For 9M FY2021, MHD’s performance continued to be affected by the temporary closure of the adjoining International Congress Centre whi
Slide 19: Risk & capital management
Risk & capital management Park International London
Slide 20: Debt maturity profile and capital management
Redemption of SGD 100.0m perpetual securities in Debt maturity profile (excludes short-term loans) May 2021 was funded by debt SGD m 350.7 > Gearing increased from 37.7% to 42.1% > Approximately SGD 3.0m interest cost savings per 191.1 148.5 150.0 year 100.0 As at 30 Jun 2021 2022 2023 2024 2025 2
Slide 21: Looking forward
Looking forward The Westin Kuala Lumpur
Slide 22: Near-term outlook
◆ Near-term outlook remains challenging and fluid, given rise of Delta variant in recent months: According to latest May 2021 survey of the UNWTO Panel of Experts1, 60% of the respondents (up from 50% in Jan 2021 survey) expect rebound in international tourism in 2022. Nearly half of all the experts
Slide 23: Capitalising on strengths, financial flexibility, enhancing asset values
Capitalising on strengths of portfolio Maintaining financial flexibility Enhancing asset values Key priority: Key priority: Quality assets in prime locations Sufficient liquidity Cost-containment measures ◆ A rebound in domestic tourism will ◆ Long-term master lease contracts ◆ Collaborating with ho
Slide 24: Experience matters.
Experience matters.
Slide 25: Property valuations (1)
Valuation, Property Country Description Tenure Class Rooms 30 Sep 2020 Novotel Strategically located within AUD 226.0m Melbourne on Australia Melbourne’s core CBD area Freehold Upscale 380 (AUD0.6m/key) Collins along Collins Street 4.5-star hotel located within close Novotel Sydney 84 Mid- AUD108.0m
Slide 26: Property valuations (2)
Valuation, Property Country Description Tenure Class Rooms 30 Sep 2020 Elegant hotel ideally located in Park International GBP38.6m UK the heart of Kensington and 75 years1 Mid-scale 171 London (GBP0.2m/key) Chelsea ANA Crowne Unique panoramic view of Kobe Upper JPY15,900.0 Japan Freehold 593 Plaza
Slide 27: Property valuations (3)
Valuation, Property Country Description Tenure Class Rooms 30 Sep 2020 First luxury apartments in Sydney Fraser Suites 75 Upper AUD122.0m Australia designed by internationally 201 Sydney years1 Upscale (AUD0.6m/key) renowned architects Luxurious serviced residences in Fraser Suites 75 Upper SGD292.0
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