Company Presentation March 2011 AGENDA 2010 Results Review 2010 - PowerPoint PPT Presentation

Anantara Kihavah, Maldives Company Presentation March 2011

AGENDA 2010 Results Review 2010 Business Updates & 2011 Outlook Long-Term Investment Rationales �

2010 Results Review Anantara Kihavah, Maldives �

FINANCIAL PERFORMANCE - REVENUE 2010 Results REVENUE INCREASED 10.7% IN 2010, SUPPORTED BY REVENUE GROWTH FROM RESTAURANT & FULL-YEAR CONSOLIDATION OF MINOR CORPORATION THB Million THB Million 25,000 20% 19.0% 10,000 17.7% 20,000 19,089 +3.9% YoY 8,000 13.2% 15% +20.0% QoQ 17,244 16,515 15,000 14,029 6,000 6,000 10.7% 10.7% 5,296 5,296 5,326 5,326 12,394 5,098 10% 4,412 4,055 10,000 4,000 5% 4.4% 2,000 5,000 0 0 0% 4Q09 1Q10 2Q10 3Q10 4Q10 2006 2007 2008 2009 2010 � Restaurant Hotel & Mixed Use Retail Trading % Growth

FINANCIAL PERFORMANCE - EBITDA 2010 Results EBITDA DECLINED 4.2% IN 2010 PRIMARILY DUE TO WEAKER HOTEL PERFORMANCE , ALTHOUGH RECOVERY WAS UNDER WAY IN 2H10 THB Million THB Million 6,000 20% 2,000 14.9% 14.7% 15% 5,000 12.3% -14.6% YoY 4,311 +53.0% QoQ 1,500 10% 3,791 4,000 3,759 3,633 1,270 1,237 3,271 5% 1,056 3,000 1,000 0% 690 -4.2% 2,000 617 -5% 500 1,000 -10% -12.1% 0 -15% 0 4Q09 1Q10 2Q10 3Q10 4Q10 2006 2007 2008 2009 2010 EBITDA EBITDA 24.3% 23.8% 15.2% 15.6% 19.9% 26.4% 26.8% 26.1% 22.0% 19.0% Margin Margin � Restaurant Hotel & Mixed Use Retail Trading % Growth

FINANCIAL PERFORMANCE – NET PROFIT 2010 Results NET PROFIT DECLINED 11.9% IN 2010 MAINLY DUE TO WEAKER HOTEL PERFORMANCE , ALTHOUGH RECOVERY WAS UNDER WAY IN 2H10 THB Million THB Million 2,000 30% 1,000 25.8% 1,892 20.6% 1,611 20% 800 -29.8% YoY 17.5% 1,500 +241.7% QoQ 1,400 618 600 600 1,280 1,241 10% 434 400 400 1,000 1,000 0% 0% 200 127 -11.4% 80 -10% 500 0 -20% -26.0% 200 0 -30% 4Q09 1Q10 2Q10 3Q10 4Q10 2006 2007 2008 2009 2010 Net Net 12.1% 11.3% 2.0% 2.9% 8.2% 10.3% 11.5% 11.5% 8.1% 6.5% Margin Margin � Restaurant Hotel & Mixed Use Retail Trading % Growth

2010 Business Updates & 2011 Outlook St. Regis Residence, Bangkok �

FINANCIAL PERFORMANCE – HOTEL & MIXED USE Hotel Updates HOTEL REVENUE INCREASED ALONGSIDE NUMBER OF ROOMS BUT PROFIT FELL ON LOW AVERAGE OCCUPANCY AND PRE-OPERATING EXPENSES OF NEW HOTELS & AVC TIMESHARE THB Million 7,177 7,677 5,918 5,950 5,832 1,853 1,866 1,864 Revenue 1,222 1,011 3,121 2,782 2,078 EBITDA 2,211 743 761 1,815 553 298 204 EBITDA 39.9% 40.8% 20.2% 24.4% 29.8% 37.4% 38.8% 40.7% 35.6% 30.5% Margin 1,567 1,301 NPAT 917 794 389 532 398 -49 216 -24 Net 21.4% 20.9% -4.8% -2.0% 11.7% 15.5% 18.1% 20.4% 13.6% 8.9% Margin 2006 2007 2008 2009 2010 1Q10 2Q10 3Q10 4Q10 4Q09 �

MINT’S HOTEL STATISTICS Hotel Updates GLOBAL ECONOMIC UNCERTAINTY & DOMESTIC POLITICAL UNREST PUT PRESSURE ON OCCUPANCY, ADR & REVPAR IN 2009-2010. HOWEVER, OCCUPANCY, ADR & REVPAR GRADUALLY RECOVERED IN 2H10, WITH MOMENTUM PARTICULARLY PICKING UP IN 4Q10 THB THB 7,000 80% 6,339 72% 72% 5,880 70% 5,805 6,000 65% 5,454 60% 5,000 4,627 52% 52% 52% 52% 50% 50% 4,142 3,951 4,000 3,339 40% 3,076 3,005 3,000 30% 2,000 20% 1,000 10% 0 0% 2006 2007 2008 2009 2010 � Revpar ADR % Occupancy

TOURIST ARRIVAL TO THAILAND Hotel Outlook HOTEL INDUSTRY OUTLOOK IS EXPECTED TO GRADUALLY RECOVER ON THE BACK OF INCREASING TOURIST ARRIVAL Million Tourists Arrival to Thailand – Yearly Trend F Million Tourist Arrival to Thailand – Monthly Trend �� Source: Tourism Authority of Thailand and Bank of Thailand

TOURIST ARRIVAL TO THAILAND FROM KEY FEEDER MARKETS Hotel Outlook THE NUMBER OF TOURISTS FROM ASIA SHOULD CONTINUE RISING, MAKING UP FOR A SLOW DOWN FROM THE U.S. & U.K. Million 2.50 12% 2.00 1.50 45% -2% -3% 32% 29% 1.00 11% 7% 81% -1% 0.50 - Malaysia China Japan Korea Germany Russia United USA India Australia Kingdom = 2009 = 2010 �� Source: Tourism Authority of Thailand

MINT’S TOP FEEDER MARKETS Hotel Outlook MINT CONTINUES TO SEE IMPROVEMENT IN NUMBER OF ROOM NIGHTS FROM CUSTOMERS ALMOST ACROSS THE BOARD, WHILE CUSTOMER MIX HAS GRADUALLY CHANGED Number of China +20% Room Nights Taiwan +16% 6% = 2009 = 2010 4% 23% -6% 11% 47% 35% 35% 2007 2010 Thailand, Africa & Others, 7% Middle East, 8% Others, 2% 7% Oceania, 4% Thailand, Oceania, 5% 13% SE Asia, 9% South Asia, 3% East Asia, East Asia, 18% 23% The The Americas, Americas, 11% 14% �� Europe, 36% Europe, 40%

LUXURY HOTEL SUPPLY IN BANGKOK Hotel Outlook BANGKOK HAS SEEN NEW SUPPLY IN RECENT YEARS AND WILL SEE MORE IN 2011 & 2012 Number of Rooms 2011F No. of Rooms 2012F No. of Rooms The Regent Bangkok 327 Crowne Plaza Sukhumvit 342 Aloft Bangkok Sukhumvit 11 297 Hotel Okura Bangkok 242 Park Plaza Bangkok Asoke 120 W Hotel Bangkok 403 Four Points by Sheraton, Sathorn 436 Le Meridien Suvarnabhumi 214 Golf Resort & Spa Sofitel Bangkok, Sukhumvit 13 345 St Regis Bangkok 227 2013F No. of Rooms The Langham Sukhumvit Bangkok 230 �� Source: HVS Reseach

BANGKOK TOURIST ARRIVAL & MINT’S UNIQUE POSITION Hotel Outlook IMPROVING TOURIST ARRIVAL & UNIQUE POSITION OF MINT’S HOTELS SHOULD ALLEVIATE PRESSURE FROM NEW SUPPLY ON BKK OCCUPANCY & ADR Million Tourists Arrival at Bangkok Airports Source: Tourism Authority of Thailand Strength of MINT’s Hotels Creates Resiliency Operating Efficiency Premier Worldwide Strong Brand & Effectiveness Locations & Network Awareness Properties Obtained with Experience ��

MINT’S HOTEL EXPANSION PLAN Hotel Outlook EXPANSION INTO MARKETS INSIDE AND OUTSIDE THAILAND HAS BEEN ON TRACK & SHOULD CONTRIBUTE WELL TO REVENUE & PROFIT IN COMING QUARTERS Investment Hotel Management Contract Hotel Pipeline • Anantara Pa-Ngan (44 Rooms) • Anantara Kihavah, Maldives (78 Rooms) • Anantara Vietnam (89 Rooms) • St Regis Hotel, Bangkok (227 Rooms) 2011 • Anantara Flamingo Villas, UAE (30 Rooms) • Masai Mara Camp (12 Rooms) • Anantara Savannah Villas, UAE (30 Rooms) • Amboseli Camp (12 Rooms) • Anantara Xishuangbanna, China (103 Rooms) • Marula Manor (16 Rooms) • Anantara Uluwatu, Bali (77 Rooms) • Serengeti Migration Camp Explorer (8 Rooms) • Anantara Blue City, Oman (122 Rooms) • Anantara Sri Lanka (125 Rooms) • Anantara Sanya, China (122 Rooms) 2012 • Anantara Chennai, India (130 Rooms) • Anantara La Cambuse, Mauritius (170 Rooms) • Anantara Wayanad, India (95 Rooms) • Anantara Chongqing, China (130 Rooms) 2013 • Anantara Chengdu, China (163 Rooms) 7 Hotels / 478 Rooms Total 13 Hotels / 1,305 Rooms ��

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 The Anantara brand reinforces our commitment to leverage on our own intellectual properties ��

RECENT DEVELOPMENT – ST. REGIS Hotel Outlook SALES OF ST. REGIS RESIDENCES ARE EXPECTED TO CONTRIBUTE TO REVENUE IN 2011 AND BEYOND Expected Incremental Revenue from Residential Sales Relative to Total Hotel Revenue 53 residences and penthouses at the upper section 53 residences and penthouses at the upper section of 47-storey high rise building, attached to 227 hotel rooms situated at the lower section; Offering 270-degree views of downtown Bangkok, private swimming pool and the Residence Club, which is accessible only by the residents and 2009 2010 2011F 2012F 2013F their guests; Residential Hotel & Mixed Use (Excl. Residential) Mixed-use concept leveraging on hotel brand and facilities such as butler and room services, specialty dining, e.g. a planned Zuma comtemporary Japanese cuisine, and the luxurious Elemis Spa ��

RECENT DEVELOPMENT – ANANTARA VACATION CLUB Hotel Outlook THE NEW TIMESHARE PROGRAM (LAUNCHED IN DEC-10) HAS BEEN WELL-RECEIVED & LOOKS SET TO ADD TO EARNINGS IN 2012 & BEYOND Purpose-Built Property in Samui Phuket Bangkok Anantara Vacation Club Asia Pacific Points Based Timeshare Product; Bali Inventories in various locations and other properties around the world under the Club Exchange Program; Others Properties are typically in resort destinations in which multiple owners hold 30-year rights to use the club inventories ��

FINANCIAL PERFORMANCE - RESTAURANT Restaurant Update RESTAURANT PERFORMANCE REMAINS STABLE & RESILIENT, WITH REVENUE, PROFIT & MARGINS CONTINUING TO IMPROVE IN 2010 THB Million 10,459 10,033 8,839 6,477 6,852 Revenue 2,765 2,471 2,704 2,571 2,520 EBITDA 1,666 1,666 1,594 1,594 1,190 1,059 977 356 471 390 449 436 EBITDA 17.0% 17.0% 15.8% 14.1% 16.6% 16.4% 14.3% 13.5% 15.9% 15.9% Margin NPAT 531 661 363 310 325 191 178 198 128 143 Net 6.9% 7.2% 5.2% 5.7% 7.1% 5.6% 4.5% 3.7% 5.3% 6.3% Margin 2006 2007 2008 2009 2010 1Q10 2Q10 3Q10 4Q10 4Q09 ��