Central Plaza Hotel Public Company Limited - CENTEL

Q3/19 Opportunity Day Presentation

Agenda

� Q3/19 summary performance

� Hotel business overview

� Food business overview

� CAPEX and guidance 2019

� Appendix

Consolidated earning Q3/19 and 9M19

Note: * Total hotel revenue included deferred rental income

** Insurance claim from fire at Central World, Big C Rajdamri and Center One in 2010

Q3/19 Summary Performance Page 3

THB million Q3/18 Q3/19 % Chg 9M18 9M19 % Chg

Total hotel revenue* 2,210.5 1,882.2 -14.9% 7,298.7 6,638.6 -9.0%

Total food revenue 3,111.1 3,082.5 -0.9% 8,955.3 9,194.6 2.7%

Total revenues 5,321.6 4,964.7 -6.7% 16,254.0 15,833.2 -2.6%

EBITDA 1,113.8 800.4 -28.1% 3,767.2 3,204.7 -14.9%

EBITDA margin (%) 20.9% 16.1% -4.8% 23.2% 20.2% -3.0%

Net profit from operation 441.7 215.0 -51.3% 1,696.5 1,250.8 -26.3%

Extraordinary items

Add: Insurance claim (net tax)** - - - - 80.6 na

Less: Provision of long term employee benefits - - - - (58.1) na

Net profit excluding non-recurring items 441.7 215.0 -51.3% 1,696.5 1,273.3 -24.9%

Bottom out

Low gearing & optimized profile

Page 4

9M19 average finance cost of 3.06%

Fixed, 75%USD, 20%

Gearing ratio Dec 2018 Q3/19

Current ratio 1.1 0.9

Interest bearing debt/Equity 0.5 0.5

Dec 2018 Sep 2019

OD, Short-term loan Debentures Long-term loan

Note: * Included current portion of long-term loan and debentures

*

THB 7.1bn 2.0%

60%

34%

6%

48%

31%

21%

Dec 2018 Sep 2019

Financial position

Total liabilities Total equity

49%

51% 52%

48%

THB 26.4 bn

Total interest bearing debt

Q3/19 Summary Performance

THB 26.4 bn THB 7.2bn

Hotel business

overview

Thailand tourism overview Chinese coming back

Hotel Business Overview Page 66

Source: Ministry of Tourism and Sport

9.0 9.7 10.8 9.0 9.7

28.5 29.5

2.3% 4.3% 1.5% 1.1% 7.3% 9.2% 3.5%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

50.0%

-5.0

5.0

15.0

25.0

35.0

45.0

55.0

Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 9M18 9M19

No. of tourist arrivals Growth yoy

Thailand number of tourist arrivals

Unit: million

Chinese +17.3% yoyChinese +1.7% yoy and

Indian +25.6% yoy

Thailand tourism overview

Page 7

Indian +26% yoy

(Unit : Person)

Source: Ministry of Tourism and Sport

Hotel Business Overview

1.7%

5.6%

25.6%

4.9%

12.2%9.8%

-3.0%

2.7%4.7%

2.7%

China

8,518,031

29%

Malaysia

2,960,896

10%

India

1,471,218

5%

Korea

1,399,440

5%

Laos

1,383,410

5%

Japan

5%

Russia

3%

Vietnam

3%

USA

3%

Hong Kong 3%

Singapore

3% UK

2%

Cambodia

2%

Germany

2%

Taiwan

2%

Others

19%

Top 15 - International Tourist Contribution

9M19Top 10 - International Tourist Arrivals growth (%) – 9M19

Hotel demand and supply in Maldives

Hotel Business Overview Page 8

Q3/19 arrivals double digits growth even Chinese drop 4.9% yoy

Number of operational beds*

42,355 43,660 45,250 47,485 49,333

8% 8% 10% 14% 16%

-200.0%

-150.0%

-100.0%

-50.0%

0.0%

50.0%

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

Q3/18 Q4/18 Q1/19 Q2/19 Q3/19

No. of operational beds Bed growth yoy

Source: Ministry of Tourism, Republic of Maldives

Note: * included hotels, resorts, guest houses and safari vessels

Unit: beds

Number of tourist arrivals and occupancy rate (yoy)

353,944 403,815482,978

379,611 389,101

1,080,4591,251,690

57% 64% 75% 56% 54% 61% 62%

-500.0%

-400.0%

-300.0%

-200.0%

-100.0%

0.0%

100.0%

200.0%

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 9M18 9M19

No. of arrivals % Occupancy

Source: Ministry of Tourism, Republic of Maldives

Unit: persons

4%3% 15%

24%

8%16%

10%

Maldives tourism overview

Page 9

(Unit : Person)

Source: Ministry of Tourism Republic of Maldives

Indian +105% yoy

Hotel Business Overview

4%

105%

32%

9% 9%14%

37%29%

10% 8%China

230,349

18%

India

115,507

9%

Italy

97,375

8%

UK

90,965

7%

Germany

87,703

7%

Russia

5%

France

4%

U.S.A.

3%

Japan

3%

Australia

2%

Spain

2% Korea

2%

Switzerland

2%Thailand

2%

Saudi Arabia

2%

Others

24%

Top 15 - International Tourist Contribution

9M19 Top 10 – International Tourist Arrivals growth (%) – 9M19

Hotel portfolio – 14,402 rooms

Page 10

Upcoming overseas

In operation Pipeline

Thailand Overseas Total Thailand Overseas TotalGrand

total

Owned 15* 2 17 2 3 5 22

Managed 21 4 25 10 18 28 53

Total 36 6 42 12 21 33 75

In operation Pipeline

Thailand Overseas Total Thailand Overseas TotalGrand

total

Owned 3,940 252 4,192 423 917 1,340 5,532

Managed 2,902 786 3,688 1,974 3,208 5,182 8,870

Total 6,842 1,038 7,880 2,397 4,125 6,522 14,402

As of September 2019

53%

Owned

Total portfolio by rooms

*Including JV and property fund

64%

Thailand

38%

Owned

Number of hotels Number of rooms

In operation by rooms

87%

Thailand

Hotel Business Overview

Pipeline – 6,522 rooms

11Hotel Business Overview Page 11

AEC, Middle East and Indian Ocean

# of rooms Owned ManagedTotal

Year 2019E 2020E 2021E 2022E 2019E 2020E 2021E 2022E 2024E

Bali 210 210

Cambodia 240 240

China 596 596

Dubai 607 607

Laos 262 56 248 60 626

Maldives 310 231 541

Myanmar 95 95

Qatar 85 509 167 761

Turkey 449 449

Thailand 282 141 179 142 623 570 460 2,397

Total Rooms 282 607 141 310 264 1,008 1,442 1,259 1,209 6,522

Total Hotels 1 1 1 2 2 5 8 8 5 33

As of September 2019

Summary of pipeline 2019E-2024E

China 596 keysEast Asia

Turkey 449 keysWest Asia

Bali, Cambodia, Laos, Myanmar and Thailand 3,568 keys

Southeast Asia

Maldives 541 keys South Asia

Doha and Dubai 1,368 keys

Middle East

Total portfolio: number of rooms by region

*

* Target to open in November 2019

2,2111,882

7,299

6,639

676446

2,5932,164

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Q3/18 Q3/19 9M18 9M19

Total Revenue EBITDA

34.1%

14.9% 16.5%

9.0%

Hotel performance

12Hotel Business Overview Page 12

32.6%

Unit: THB mn

EBITDA margin 23.7%

Partial impact from Closure of Centara Grand Samui for renovation

30.6% 35.5%

Total own portfolio

13Hotel Business Overview Page 13

Q3/19 RevPar -12.5% from occupancy and room rate

3,825

4,519

3,8254,507

2,8583,479

2,8583,463

74.7%

77.0%

74.7%

76.8%

50%

55%

60%

65%

70%

75%

80%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q3/19 9M19 Q3/19 9M19

Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)

5.8%

12.5%

5.0%

1.7%

7.7%

5.3%4.9%

10.2%6.7%

5.7%0.7%

3.9%

Excluding Centara Grand SamuiIncluding Centara Grand Samui

Thailand portfolio

14Hotel Business Overview Page 14

Q3/19 RevPar -13.0% from occupancy and room rate

3,0533,654

3,0533,617

2,276

2,7982,276

2,764

74.6%76.6%

74.6%76.4%

50%

55%

60%

65%

70%

75%

80%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q3/19 9M19 Q3/19 9M19

Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)

6.2%

5.8%

5.5%

1.9%

8.5%

5.7%

5.4%

9.0%6.6%

13.1%

2.1% 0.1%

Excluding Centara Grand SamuiIncluding Centara Grand Samui

Bangkok portfolio

15Hotel Business Overview Page 15

Q3/19 RevPar -12.6% from occupancy and room rate

2,811 2,998

2,200 2,352

78.3% 78.5%

50%

55%

60%

65%

70%

75%

80%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q3/19 9M19

Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)

7.6%

12.6%

6.0%

1.4%

8.4%4.0%

Upcountry portfolio

16Hotel Business Overview Page 16

Q3/19 RevPar -13.1% from occupancy and room rate

3,190

3,999

3,190

3,957

2,317

3,024

2,3172,981

72.6%

75.6%

72.6%

75.3%

50%

55%

60%

65%

70%

75%

80%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q3/19 9M19 Q3/19 9M19

Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)

5.7%

13.1%

5.3%

1.9%

8.3%

4.7%

5.0%

7.1%5.8%

6.4% 1.1% 0.5%

Excluding Centara Grand SamuiIncluding Centara Grand Samui

Maldives portfolio

17Hotel Business Overview Page 17

Q3/19 RevPar (USD) -7.1% from room rate

14,880

16,625

11,461

13,785

77.0%

82.9%

10%

20%

30%

40%

50%

60%

70%

80%

0

5,000

10,000

15,000

20,000

25,000

Q3/19 9M19

Average Room Rate (ARR) Revenue Per Available Room (RevPar) Occupancy (OCC)

6.6%

9.2%14.3%

13.4%

0.8%

2.3%

4.5%7.1%373 USD 440 USD

Hotel revenue breakdown by region

Page 18

33.9%

16.9%14.7%

12.8%

6.5% 7.1% 5.8%2.3%

34.5%

17.5%14.9% 13.2%

7.2%

4.4%5.8%

2.5%

Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Others

9M18 9M19

Total revenue

9M19 Bangkok Maldives Phuket Pattaya Hua Hin Samui Krabi Hat Yai Tak

% RevPar Growth yoy -8.4% -6.6% -8.4% -6.6% 3.2% -31.0% -8.4% 0.8% -4.7%

Hotel Business Overview

done83% of hotel revenue from Thailand

-11.3%Excluding Centara Grand Samui

Food business

overview

Q3/19: Portfolio of 1,029 outletsNet expansion of 107 outlets (or +11.6% yoy)

Page 20Food Business Overview

Bangkok Non-Bangkok

64% Non-Bangkok

65% Non-Bangkok

Brands # of outlets Change yoy

KFC 275 +23

Mister Donut 365 +21

Auntie Anne’s 178 +25

Ootoya 46 +4

Pepper Lunch 45 +8

The Terrace 9 -

Chabuton 19 +2

Yoshinoya 21 +2

Tenya 13 +5

Katsuya 31 +8

Cold Stone 17 -1

Aroi Dee 7 +7

Suki House 2 +2

Soft Air 1 +1

Total 1,029 +107

Number of outlets by location Revenue contribution by location

Food business performance Economy slowdown and high competition pressure on margin

Page 21Food Business Overview

3,111 3,083

8,955 9,195

438355

1,175 1,040

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Q3/18 Q3/19 9M18 9M19

Total Revenue EBITDA

19.0 %

0.9%

11.4%

2.7%

11.3%

Unit: THB mn

EBITDA margin 11.5%14.1% 13.1%

SSS & TSS Weak CCI & high base last year

Page 22Food Business Overview

Same store sale (SSS) and Total system sale (TSS) Same store sale (SSS): Bangkok vs Non-Bangkok

3.3%

-1.7%

-4.1%

-1.7%

-9.4%

1.2%

-5.2%

2.2%

-1.7%

-3.6%-1.8%

-7.9%

0.4%

-4.5%

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Bangkok Non-Bangkok

2.6%

-1.7%

-3.8%

-1.8%

-8.4%

0.7%

-4.7%

12.5%

6.5%

3.4%

5.7%

-1.0%

10.2%

2.7%

-10.0%

-5.0%

0.0%

5.0%

10.0%

15.0%

SSS TSS

3Q18 4Q18

3Q18

1Q19

4Q18

2Q19

9M18

3Q19 9M18 9M19

1Q19 2Q19 9M193Q19

KFC, 56%

Mister Donut, 15%

OOTOYA, 8%

Auntie Anne's, 7%

Others, 14%

Food total revenue breakdown

Page 23

KFC, 56%

Mister Donut, 15%

OOTOYA, 8%

Auntie Anne's, 7%

Others, 14%

9M19

Food Business Overview

KFC high base Q3/18

(+2.9% yoy)

(+5.7% yoy)

(+5.2% yoy)

(+6.2% yoy)

(-5.8% yoy)

Q3/19

(-5.2% yoy)

(+6.5% yoy)

(+8.3% yoy)

(+5.9% yoy)

(no change yoy)

New food brand

Food Type Soft serve

Concept Fly you to the soft Cream World

Products 6 flavours:

• California – Strawberry

• Normandie – Milk

• Brussels – Choco

• Shizuoka – Matcha

• Okinawa – Purple Potato

• Chanthaburi - Mhonthong

Price Start from 25 Baht

1st outlet 4th floor @ Siam Center

Target customer Young generation age range 18-29 years old

Outlet format Kios 15-20 sq.m.

Target location • Shopping malls – CAPEX THB 1mn/outlet

• Hypermarket – CAPEX THB 0.4-0.5mn/outlet

Page 24

Launched “Soft Air” in September

Food Business Overview

Soft Air

Page 25

Products

Food Business Overview

CAPEX &

GUIDANCE 2019

3-year capital expenditure : THB 21bn

Page 27

-

2,000

4,000

6,000

8,000

10,000

2018A 2019E 2020E 2021E

Hotel Food Potential projects

Sufficient funding with loan/bond & operating cashflow

Financial Highlight

2020E2019E 2021E

Centara Grand Central World

Renovation

&

Enhancement

New

Investment

&

Expansion

Centara Grand Samui

Centara Grand Hua Hin*

New investment in food brand(s) & hotel(s)*

Food outlet expansion

2 new Centara Maldives

Centara Dubai

COSI Chiang Mai

CAPEX (THB mn)

Annual renovation for existing hotels

Annual renovation for existing CRG’s outlets

Note: *potential projects are under feasibility study

…

Centara Grand Osaka

CENTEL guidance 2019

Page 28Financial Highlight

2018A 2019E - Revised

Hotel

RevPar (THB) 3,786* -6% to -9% yoy(Excluding Centara Grand Beach Resort Samui and COSI Pattaya)

Food

TSS 9.3% 3% to 5% yoy

Number of outlets 956 12% yoy

Hotel:

• To open COSI Pattaya 282 rooms in November

• Revised target as a result of Q3/19 performance softer

than expectation and uncertain rebound in Q4/19

Food:

• Outlet expansion drives the growth focusing on “Katsuya” and

“Aroi Dee”

• Focusing on delivery through own platform and food aggregators

*Included COSI Samui and Centra Chaeng Watthana

Recovery in hotel business remains to be seen & high competition in food business

Q&A

29Page 29Q&A

More Information please Contract: Investor Relations department

Central Plaza Public Company Limited25th Fl, Centara Grand at CentralWorld999/9 Rama I Rd., PathumwanBangkok 10330 Thailand

https://investor.centarahotelsresorts.com/ ir@chr.co.th

Disclaimer

This presentation contains certain forward looking statements. Such forward looking statements are not guarantees of future

performance and involve risks and uncertainties, and actual results may differ from those in the forward looking statements

as a result of various factors and circumstances. The views, analyses and opinions expressed herein contain some information

derived from publicly available sources and third party information providers. No representation or warranty is made as to

the accuracy, completeness, or reliability of such information. This presentation should not be relied upon as any

recommendation, view, opinion, representation or forecast of “Central Plaza Hotel Plc.” Nothing in this presentation should

be construed as either an offer to sell, a solicitation of an offer to buy or sell shares or any type of securities in any

jurisdiction. This presentation is not intended to be any type of investment advice and must not be relied upon as such. You

must always seek the relevant professional advice before otherwise making any such financial, legal or commercial decisions.

30Page 30

Appendix

Hotel revenue by asset type (Freehold & Leasehold)

Page 32Appendix

0.6

9.2

13.2

34.0

0

5

10

15

20

25

30

35

40

Centara

Grand Hua

Hin

Centara

Grand

Ladprao

Centara

Grand Central

World

COSI Samui

Re

ma

inin

g Y

ea

rs

Remaining leasehold life for

Thailand hotels as at September 30, 2019

CHBR

7% CGLB

10%

CGCW

20%

37%

46%

17%

2018 hotel revenue

Thailand freehold

Thailand leaseholdMaldives leasehold

Page 33Appendix

Hotels in operation as at September 30, 2019 (1/3)

Owned hotels Stars Opened # of Rooms % Ownership Location

1 Centara Grand at Central Plaza Ladprao Bangkok 5 Q2/83 565 100% Thailand

2 Centara Grand Resort & Villas Hua Hin 5 Q1/86 249 64% Thailand

3 Centra by Centara Hotel Mae Sot* 3 Q4/89 120 100% Thailand

4 Centara Hat Yai 4 Q4/95 248 100% Thailand

5 Centara Grand Beach Resort Samui 5 Q2/96 203 25% in Property Fund Thailand

6 Centara Villas Samui 4 Q2/00 102 100% Thailand

7 Centara Villas Phuket 4 Q2/00 72 100% Thailand

8 Centara Grand Beach Resort & Villas Krabi 5 Q4/05 192 100% Thailand

9 Centara Kata Resort Phuket 4 Q2/06 163 100% Thailand

10 Centara Karon Resort Phuket 4 Q2/06 335 100% Thailand

11 Centara Grand at CentralWorld 5 Q4/08 512 100% Thailand

12 Centara Grand Mirage Beach Resort Pattaya 5 Q4/09 555 100% Thailand

13 Centara Grand Island Resort & Spa Maldives 5 Q4/09 112 74% Maldives

14 Centara Grand Beach Resort Phuket 5 Q4/10 262 100% Thailand

15 Centara Ras Fushi Resort & Spa Maldives 4 Q1/13 140 75% Maldives

16 COSI Samui Chaweng Beach Affordable lifestyle Q1/17 150 100% Thailand

17 Centra by Centara Government Complex Hotel &

Convention Centre Cheang Watthana

3 Q4/12 212* 100% Thailand

Total owned hotels 4,192

*after renovation since April 2019

Page 34Appendix

Hotels in operation as at September 30, 2019 (2/3)

Managed hotels Stars Opened # of Rooms Country

18 Centara Chaan Talay Resort & Villas Trat 4 Q1/08 44 Thailand

19 Centara Hotel & Convention Centre Udon Thani 4 Q2/10 259 Thailand

20 Centara Q Resort Rayong 4 Q2/10 41 Thailand

21 Khum Phaya Resort, Centara Boutique Collection Boutique Q3/10 87 Thailand

22 Waterfront Suites Phuket by Centara Residence Q1/11 39 Thailand

23 Centara Anda Dhevi Resort & Spa Krabi 4 Q4/11 135 Thailand

24 Centara Pattaya Hotel 4 Q4/11 152 Thailand

25 Centara Nova Hotel & Spa Pattaya 4 Q4/11 79 Thailand

26 Centara Koh Chang Tropicana Resort 4 Q2/12 157 Thailand

27 Centra Coconut Beach Resort Samui 3 Q3/12 55 Thailand

28 Sandy Beach Non Nuoc Resort Danang Vietnam Managed by Centara 4 Q4/12 204 Vietnam

29 Centara Watergate Hotel & Spa Bangkok 4 Q2/13 281 Thailand

30 Centara Seaview Resort Khao Lak 4 Q2/13 250 Thailand

31 Centara Grand Phratamnak Pattaya 5 Q3/13 161 Thailand

Page 35Appendix

Hotels in operation as at September 30, 2019 (3/3)

Managed hotels Stars Opened # of Rooms Country

32 Centara Blue Marine Resort & Spa Phuket 4 1Q14 266 Thailand

33 Centara Ceysands Resort & Spa Srilanka 4 2Q14 165 Sri Lanka

34 Centra by Centara Avenue Hotel Pattaya 3 4Q14 51 Thailand

35 Centra by Centara Maris Resort Jomtien 3 1Q16 282 Thailand

36 Centra by Centara Phu Pano Resort Krabi 3 4Q16 158 Thailand

37 Centara Azure Hotel Pattaya 4 4Q16 96 Thailand

38 Centara Muscat Hotel 4 2Q17 152 Oman

39 Centara West Bay Residences & Suites Doha Residence 4Q18 265 Qatar

40 Centara Sonrisa Residence and Suites Sriracha Residence 2Q19 145 Thailand

41 Maikhao Hotel Boutique 3Q19 142 Thailand

42 Maikhao Dream Villa Resort & Spa Boutique 3Q19 22 Thailand

Total managed hotels 3,688

Grand total 7,880

Thank You