Company Presentation May 2011 AGENDA 1Q11 Results Review Business - PowerPoint PPT Presentation

ST. REGIS MEETS BANGKOK ST. REGIS MEETS BANGKOK Company Presentation May 2011

AGENDA 1Q11 Results Review Business Updates & Outlook Appendix Anantara Kihavah, Maldives 2

1Q11 Results Review The St. Regis Bangkok 3

RECORD QUARTERLY REVENUE 1Q11 Results MINT REPORTED RECORD QUARTERLY REVENUES IN 1Q11, AN INCREASE OF 26% YoY, ATTRIBUTABLE TO GROWTH IN ALL BUSINESSES, IN PARTICULAR THE HOTEL AND MIXED-USE BUSINESS % Revenue Contribution Retail Trading +26% YoY THB Million 13% +26% QoQ Restaurant 44% 8,000 6,686 6,000 5,326 5,296 Hotel & Mixed Mixed 4,412 4,412 4,055 Use 4,000 43% Revenue increased by 26% YoY, as a result of: Gradual recovery of hotel business, partly supported 2,000 by the improvement in the tourism industry; Recognition of sales of St. Regis residential units; - Commencement of sales of Anantara Vacation Club; 1Q10 2Q10 3Q10 4Q10 1Q11 Strong growth of restaurant business; Impressive same store sales growth of existing retail Restaurant Hotel & Mixed Use Retail Trading trading brands, together with increased contribution from GAP; Resumption of contract manufacturing orders 4

RECORD QUARTERLY EBITDA 1Q11 Results EBITDA INCREASED BY 19% YoY PRIMARILY PROPELLED BY THE HOTEL AND MIXED-USE BUSINESS, WHILE EBITDA MARGIN DECLINED SLIGHTLY YoY OWING MAINLY TO PRE-OPENING EXPENSES OF TWO NEW HOTELS AND ANANTARA VACATION CLUB EBITDA Contribution +19% YoY Retail +43% QoQ Trading THB Million 4% 1,600 1,506 Restaurant 31% 1,270 1,200 1,056 Hotel & Mixed Use 65% 800 800 690 617 400 EBITDA increased by 19% YoY, as a result of: Recovery of occupancy of existing hotels (excluding newly-opened hotels), although the - pre-opening expenses of two new hotels 1Q10 2Q10 3Q10 4Q10 1Q11 mitigated such positive effect; EBITDA Recognition of sale of St. Regis residential units 23.8% 15.2% 15.6% 19.9% 22.5% Margin Better performance of the retail trading and contract manufacturing businesses from higher Restaurant Hotel & Mixed Use Retail Trading operating efficiency and operating leverage 5

RECORD QUARTERLY NET PROFIT 1Q11 Results MINT REPORTED RECORD QUARTERLY NET PROFIT IN 1Q11, WHICH ROSE 37% YoY, WHILE NET PROFIT MARGIN ALSO EXPANDED TO 12.3%, HELPED BY IMPROVED PERFORMANCE OF ALL THREE BUSINESS UNITS, TOGETHER WITH LOWER EFFECTIVE TAX RATE Net Profit Contribution Retail THB Million +37% YoY Trading +90% QoQ 4% 1,000 Restaurant 26% 823 800 600 600 Hotel & Mixed 433 Use Use 70% 400 200 127 80 Net profit increased by 37% YoY, as a result of: Improvement in hotel and mixed use net profit of - over 40% 1Q10 2Q10 3Q10 4Q10 1Q11 Steady improvement in restaurant net profit of 8% -200 Net profit of retail trading and contract manufacturing business more than doubled in Net 11.3% 2.0% 2.9% 8.2% 12.3% 1Q11 Margin Lower effective tax rate as MINT did not have to pay taxes on subsidiaries with net losses, namely the two Restaurant Hotel & Mixed Use Retail Trading new hotels & Anantara Vacation Club 6

Business Updates & Outlook Anantara Vacation Club, Bophut, Koh Samui 7

FINANCIAL PERFORMANCE – HOTEL & MIXED USE Hotel Updates REVENUE AND PROFIT FROM THE HOTEL & MIXED-USE BUSINESS EXHIBITED IMPRESSIVE GROWTH OF 50% YoY WITH NET MARGIN REMAINING STABLE. STRIPPING OUT PRE-OPENING EXPENSES OF TWO NEW HOTELS AND ANANTARA VACATION CLUB, NET MARGIN WOULD HAVE IMPROVED SIGNIFICANTLY Key Highlights THB Million 2,883 Recognition of sale of real estates - St. Regis 1,866 1,853 Residences was a major revenue contributor Revenue 1,222 1,010 to the hotel and mixed-use business in 1Q11; Although contribution is still not significant, Anantara Vacation Club started to recognize revenues from sale of points for right-to-use in time share resort after it was successfully launched in December 2010 successfully launched in December 2010 975 975 761 Anantara Kihavah, MINT’s first wholly-owned 553 EBITDA hotel outside of Thailand, was opened in Feb 298 204 2011, along with Anantara Rasananda, a managed hotel under Anantara brand; EBITDA 40.8% 20.2% 24.4% 29.8% 33.8% St. Regis Hotel Bangkok was opened in April 2011 Margin Hotel business saw a gradual recovery as evidenced by improvement in organic occupancy 577 Share of profit from the three Maldives hotels 389 NPAT 216 (Anantara Veli, Anantara Dhigu and Naladhu) -49 almost doubled in 1Q11, compared to 1Q10 -24 The company made initial investment in Oaks Net 20.9% -4.8% -2.0% 11.7% 20.0% Hotels & Resorts Limited (OAK ASX) in Australia Margin in March 2011 1Q10 2Q10 3Q10 4Q10 1Q11 8

RESIDENTIAL PROPERTY DEVELOPMENT Hotel Outlook SALES OF ST. REGIS RESIDENTIAL UNITS WERE ONE OF THE MAJOR REVENUE CONTRIBUTORS FOR THE HOTEL & MIXED USE BUSINESS IN 1Q11. BOTH ST. REGIS RESIDENCES AND THE ESTATES SAMUI STILL HAVE INVENTORIES AVAILABLE FOR SALE FOR THE NEXT FEW YEARS THE ESTATES SAMUI ST. REGIS RESIDENCES While sales have been recognized for the 7 Although 32% of the total sellable area of St. Regis Residences have been units during 2006-2008, The Estates Samui sold to date, a total of 22% have been booked as revenues in 4Q10 and has seven units in the inventory to be sold 1Q11. The remaining 10% will be booked as the properties are transferred. over the next few years More revenue will be recognized as more inventories are sold Sold 50% Sold 32% Inventory 50% Inventory 68% 2006 2007 2008 2009 2010 1Q11 2011F 2011F 2011F 2012F 2013F Sold Potential; Inventory Inventory Inventory pending deposit transfer collected 9 2011F

ANANTARA VACATION CLUB Hotel Outlook LAUNCHED IN DEC 2010, ANANTARA VACATION CLUB STARTED TO CONTRIBUTE TO REVENUES OF THE HOTEL & MIXED USE BUSINESS IN 1Q11. ALTHOUGH THE AMOUNT IS STILL NOT SIGNIFICANT, IT HAS EXCEEDED MINT’S INTERNAL TARGET. MINT EXPECTS SELLING MOMENTUM TO ACCELERATE OVER THE NEXT FEW YEARS Inventories Sales & Marketing Anantara Vacation Club is in the process of Sales and marketing offices have been accumulating its own purpose-built launched in Samui and Phuket properties: As at 1Q11, over 130 memberships � Samui have been sold, with Asians currently the biggest market The 20 units of exclusive suites and villas have been completed in Dec 2010 and are now available are now available AVC Members Singapore � Phuket 15% Two villas at Anantara Phuket Resort & Germany Spa have been rented as immediate 8% Others inventory 46% Hong Kong 30 rais of land has been purchased to 8% build 100 units of Anantara Vacation Club properties, to be available by end of Malaysia 2012 8% Japan Other destinations, which are being actively UK Australia 5% 5% 5% pursued, include Bangkok and Bali Sample of AVC Brochure 10

REJUVENATION OF EXISTING ASSETS Hotel Outlook REVENUE STREAM IS ENHANCED THROUGH CONSTANT RENEWAL OF EXISTING ASSETS AND PROPERTIES WITH MINIMAL INVESTMENT Anantara Bangkok Riverside By November 2011, Bangkok Marriott Resort and Spa will be rebranded to Anantara Bangkok Riverside Lease term has been extended from the remaining 8 years to 38 years The 413-room hotel will be upgraded through development of a convention center and shopping plaza, with additional guest rooms on upper floors Manorah Cruises will also be rebranded to Anantara Cruises in July 2011 The Anantara brand reinforces our commitment to leverage on our own intellectual properties 11

MINT’S HOTEL STATISTICS Hotel Outlook MINT’S HOTEL STATISTICS SAW GRADUAL IMPROVEMENT SINCE ITS ALL-TIME-LOW IN 2Q10. EXCLUDING NEW HOTELS OPENED, ORGANIC OCCUPANCY OF EXISTING HOTELS SAW AN IMPROVEMENT BOTH YoY AND QoQ TO 64% WHILE ADR IMPROVED QoQ WHILE REMAINED STABLE YoY AT THB 6,866 IN 1Q11 THB +436 rooms Anantara Sathorn 8,000 80% +44 rooms Anantara Rasananda +78 rooms Anantara Kihavah 6,877 6,960 6,237 Number 61% of Rooms 6,000 60% 64% 59% 57% 5,000 61% 4,940 60% 4,590 57% 59% 48% 4,000 4,234 4,048 48% 41% 41% 4,000 4,000 40% 40% 3,571 3,571 41% 40% 3,000 2,211 2,000 2,018 2,000 20% 20% 1,000 3,142 3,142 3,142 3,142 3,687 0 0% 0 0% 1Q10 2Q10 3Q10 4Q10 1Q11 1Q10 2Q10 3Q10 4Q10 1Q11 Number of Hotel Rooms Overall Occupancy ADR Revpar % Occupancy Organic Occupancy * Note: No of rooms exclude Elewana, Serendib and Kani Lanka rooms 12

MINT’S FEEDER MARKETS Hotel Outlook MINT CONTINUES TO SEE IMPROVEMENTS ACROSS ALL OF ITS FEEDER MARKETS, WITH A 10% YoY INCREASE IN OVERALL ROOMNIGHTS COMPARED TO INCREASE IN THAILAND’S TOURIST ARRIVALS OF 14% YoY MINT’s 1Q11 Feeder Markets Number of China +53% Room Nights 4% Korea +62% UAE +70% 80,000 India +45% 60,000 11% 1Q10 1Q11 40,000 13% 2% 56% 13% 20,000 34% -22% 0 0 Thailand East Asia Europe The Americas South Asia Oceania Middle East Africa & Others MINT’s 1Q11 Feeder Markets Thailand’s Top 5 Feeder Markets Number of The Americas Tourists 11% South Asia 30% 500,000 3% 1Q10 1Q11 Oceania 43% 400,000 5% 4% 18% 1% 300,000 Middle East 8% 200,000 Europe Africa & 41% Others 100,000 2% Thailand 0 East Asia 11% 20% China Japan Russia Korea United 13 Kingdom