Ytl Hospitality Reit · MYX:YTLREIT
Ytl Hospitality Reit — Q4 FY2024 Earnings Presentation
48 slides from Ytl Hospitality Reit's earnings presentation, Aug 1, 2024
Slide 1: Fourth Quarter FY2024 Financial Results
Fourth Quarter FY2024 Financial Results 1 August 2024
Slide 2: Key Highlights – 4Q FY2024
KEY HIGHLIGHTS – 4Q FY2024 • Income distribution of RM141 million for FY FINANCIAL 2024, +11% y-o-y PORTFOLIO • 4.0880 sen and 8.2661 sen distribution per unit (“DPU”) declared for 2H FY2024 and HIGHLIGHTS FY2024 respectively MANAGEMENT • Revaluation surplus of RM127 million in May • Properties in M
Slide 3: Financial performance 4Q & 2H FY2024
1 Financial performance 4Q & 2H FY2024 Pangkor Laut Resort Perak Darul Ridzuan, Malaysia
Slide 4: Financial Performance: 4Q FY2024
FINANCIAL PERFORMANCE: 4Q FY2024 1 April - 30 June 4Q FY2024 4Q FY2023 Change Total Revenue 130.2 117.6 + 10.7% (1) - Hotel Revenue (Management Contracts) 83.9 74.2 + 13.1% (2) - Lease Rental (Master Leases) 46.3 43.4 + 6.8% Net Property Income (NPI) 65.8 59.9 + 9.7% (1) - Management Contracts 22.2
Slide 5: Financial Performance: 2H FY2024
FINANCIAL PERFORMANCE: 2H FY2024 1 January - 30 June 2H FY2024 2H FY2023 Change Total Revenue 278.8 244.5 + 14.0% (1) - Hotel Revenue (Management Contracts) 186.0 157.7 + 18.0% (2) - Lease Rental (Master Leases) 92.8 86.8 + 6.9% Net Property Income (NPI) 145.6 126.9 + 14.8% (1) - Management Contract
Slide 6: Half Yearly Financial Performance: 2H FY2024
HALF YEARLY FINANCIAL PERFORMANCE: 2H FY2024 FY2023 FY2024 TOTAL revenue NET property income RM (million) RM (million) 14.0% 300 278.8 300 276.1 242.4 244.5 200 200 14.8% 144.0 145.6 124.4 126.9 100 100 0 0 1H 2H 1H 2H 6
Slide 7: Financial Performance by Country: 2H FY2024
FINANCIAL PERFORMANCE BY COUNTRY: 2H FY2024 2H FY2023 2H FY2024 TOTAL revenue NET property income RM (million) RM (million) 18.0% 200 186.0 200 157.7 8.7% 8.6% 100 100 79.3 75.2 73.0 27.2% 69.3 58.4 45.9 1.8% 3.4% 13.7 13.5 11.6 12.0 0 0 Malaysia Australia Japan Malaysia Australia Japan 7
Slide 8: Financial performances: FY2024
Financial performances: FY2024 2 JW Marriott Kuala Lumpur, Malaysia
Slide 9: Financial Performance: FY2024
FINANCIAL PERFORMANCE: FY2024 1 July - 30 June FY2024 FY2023 Change Total Revenue 554.9 486.8 + 14.0% (1) - Hotel Revenue (Management Contracts) 373.7 313.4 + 19.2% - Lease Rental (Master Leases) 181.2 173.4 + 4.5% Net Property Income (NPI) 289.5 251.3 + 15.2% (1) - Management Contracts 119.6 88.9 +
Slide 10: Yearly Financial Performance
YEARLY FINANCIAL PERFORMANCE TOTAL revenue NET property income RM (million) RM (million) 14.0% 600 600 554.9 490.9 486.8 426.4 400 363.9 400 326.3 15.2% 289.5 253.3 251.3 235.2 205.3 214.8 200 200 0 0 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 10
Slide 11: Financial Performance by Country: FY2024
FINANCIAL PERFORMANCE BY COUNTRY: FY2024 FY2023 FY2024 TOTAL revenue NET property income RM (million) RM (million) 19.2% 400 400 373.7 313.4 5.4% 200 200 5.3% 146.1 154.0 34.6% 138.7 146.0 119.7 88.9 0.3% 0.4% 27.3 27.2 23.7 23.8 0 0 Malaysia Australia Japan Malaysia Australia Japan 11
Slide 12: DPU Performance
DPU PERFORMANCE Total DPU Semi-annual Breakdown DPU (sen) 10 8.4613 8.2661 7.9746 8.0838 7.8938 7.8683 7.8711 7.6359 7.3803 7.4433 6.7115 6.4855 6.4855 Total Distributions* FY2 0 2 3 FY2 0 2 4 5 Cumulative 126.9 140.9 4.0880 4.1636 2H 74.7 69.7 3.9550 4.3833 1H 52.2 71.2 2H * In RM million 3.0600 4.
Slide 13: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION As at 30 June 2024 As at 30 June 2023 RM ('000) Change (Unaudited) (Audited) (1) Investment properties 3,052,259 2,792,750 + 9.3% Property, plant and equipment 2,118,453 2,085,578 + 1.6% Cash & cash equivalents 233,701 183,599 + 27.3% Other assets 41,497 65,351 (36.5%
Slide 14: Revaluation Surplus of RM127 Million During 4Q FY2024
REVALUATION SURPLUS OF RM127 MILLION DURING 4Q FY2024 RM (million) RM (million) JAPANESE properties - Hilton Niseko Village + RM 16.8 mil 481 - The Green Leaf Niseko Village + RM 4.5 mil 502 AUSTRALIAN properties 2,042 2,120 - Sydney Harbour Marriott + RM 52.3 mil - Brisbane Marriott + RM 18.6 mil -
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 2024) (1 October 2017 to 30 June 2024) RM % RM % 1.40 60 1.40 30 Unit Price Relative Performa
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) 1,198 1,200 1,000 385 800 600 380 400 813 220 200 350 289 160 105 0 FY2025 FY2026 FY2027 FY2028 FY2029 Notes: ^ Excluding the effects of capitalised transaction costs. * RM equivalent based on the exchange r
Slide 18: Debt Profile as at 30 June 2024
DEBT^ PROFILE AS AT 30 JUNE 2024 CURRENCY INTEREST RATE Fixed α JPY 3.7% 6.9% AUD 47.5% RM Floating 45.6% β 96.3% 30 June 2024 31 March 2024 Change Borrowings^ (RM'000) 2,322,089 2,260,644 + 2.7% Total Asset Value (RM'000) 5,445,910 5,272,822 + 3.3% Gearing (%) 42.6% 42.9% (0.3 pp) Average Interest
Slide 19: Debt Headroom of ~RM541 Million for Acquisitions
DEBT HEADROOM OF ~RM541 million FOR ACQUISITIONS As at 30 June 2024 After completion of proposed renovation of Ipoh Hotel and proposed development of RM (million) RM (million) Moxy Niseko 8,000 8,000 6,241 6,241 6,000 795 6,000 541 4,000 4,000 3,117 3,117 Gearing 541 5,700 795 5,446 limit = 50% 2,00
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 ASSET breakdown(by Country)(1) Malaysia (Northern) ◼ AC Hotel Penang Bukit Jambul Japan Japan ◼ Pangkor Laut Resort 9.9% ◼ Hilton Niseko Village Australia ◼ Cameron Highlands Resort 41.0% ◼ The Green Leaf Niseko ◼ Ipoh Hotel Village Malaysia 49.1% M
Slide 22: Portfolio Valuation
PORTFOLIO VALUATION No. of Year Purchase Price Annual Lease Rental (1 ) Valuation (million) Changes since Property (2 ) Rooms Acquired (million) (RM million) FY2023 FY2024 acquisition Ma la y sia RM RM RM JW Marriott Hotel Kuala Lumpur 578 2005 331.0 32.7 527.5 538.0 +6 2 .5 % The Ritz-Carlton, Kual
Slide 23: Portfolio Occupancy
PORTFOLIO OCCUPANCY FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 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) 82.5% Notes: (1) For 1 July 2012 to 30 June
Slide 24: Master Leases Expiry Profile
MASTER LEASES EXPIRY PROFILE NET property income NET property income (% of total *) Master leases (% of total *) 40 Master Leases 66% 30 30 20 16 Management Contracts 10 34% 10 6 4 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2038 2048 Notes: * For 4Q FY2024. 24
Slide 25: Australia Hotel Performance by Quarter (1 of 2)
AUSTRALIA HOTEL PERFORMANCE BY QUARTER (1 OF 2) FY2023 FY2024 REVENUE per available room (RevPAR) AUD 400 300 289 275 10.8% 239 237 242 225 203 200 183 100 0 1Q 2Q 3Q 4Q 25
Slide 26: Australia Hotel Performance by Quarter (2 of 2)
AUSTRALIA HOTEL PERFORMANCE BY QUARTER (2 OF 2) FY2023 FY2024 Average occupancy Average daily rate (ADR) % AUD 100 400 6.4pp 84.4 84.2 343 81.7 79.6 326 76.1 78.7 311 2.2% 73.2 307 292 66.1 300 277 277 283 50 200 100 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) REVENUE per available room AUD (RevPAR) 300 19.0% 257 234 230 219 219 218 216 213 200 179 97 100 75 0 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 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 86.9 87.8 9.0pp 400 84.2 84.4 86.4 84.9 82.5 6.0% 73.1 73.5 312 294 300 271 259 266 253 253 251 245 53.3 222 50 43.8 200 140 100 0 0 FY2014 FY2016 FY2018 FY2020 FY2022 FY2024 FY2014 FY2016 FY2018 FY2020
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 Address Kuala 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 – 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) 2 years Annual rental (2) RM22.
Slide 33: 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 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) 2 years Annual rental (2) RM9.04 million
Slide 35: Hotel Stripes Kuala Lumpur
HOTEL STRIPES KUALA LUMPUR No. 25, Jalan Kamunting, 50300 Kuala Address Lumpur 20-storey hotel building with 184 rooms and Description 148 car park bays Tenure Freehold Master lease expiry 30 October 2038 Master lease remaining (1) 14 years Annual rental (2) RM9.66 million No. of rooms 184 Acquisiti
Slide 36: 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 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 101 rooms 60-year leasehold expiring on 4 December Tenure 2067 Master lease expiry 14 November 2026 Master lease remaining (1) 2 years Annual rental (2) RM7.72 mill
Slide 39: 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) 2 years Annual rental (2) RM6.62 million No. of rooms 215
Slide 40: 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 41: Ipoh Hotel (Formerly Known As Syeun Hotel)
IPOH HOTEL (Formerly Known As Syeun Hotel) No. 88, Jalan Sultan Abdul Jalil, 30450 Ipoh, Address Perak Darul Ridzuan Description 13-storey hotel building with 291 rooms 999-year leasehold expiring on 21 Tenure September 2894 No. of rooms 291 Acquisition date 8 April 2024 Valuation (1) RM58.0 million
Slide 42: 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) 2 years Annual rental (2) RM17.13 million No. of rooms 506 Acqui
Slide 43: 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) 24 years Annual rental (2,4) JPY331 million (RM9.
Slide 44: 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) AUD506.0 mill
Slide 45: 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) AUD93.0 million (RM290.85 million) Notes: 1.
Slide 46: 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 (RM250.19 million) Note
Slide 47: Disclaimer
DISCLAIMER This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 30 June 2024, 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 48: 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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