Fourth Quarter FY2019 Financial Results31 July 2019
2
• Properties in Malaysia and Japan under master leases
• 4Q FY2019 and FY2019 average occupancy rates forproperties in Australia: 87.2% and 84.9% respectively
• 4Q FY2019 and FY2019 ADRs for properties in Australia:AUD246 and AUD271 respectively. FY2019 ADR was 1.9%higher as compared to FY2018 ADR of AUD266.
• 4Q FY2019 and FY2019 RevPARs for properties inAustralia: AUD215 and AUD230 respectively. FY2019RevPAR was 1.7% lower as compared to FY2018 RevParof AUD234.
• Melbourne Marriott Renovation Capex (Planned): AUD1million
PORTFOLIO
MANAGEMENTHIGHLIGHTS
FINANCIAL
KEY HIGHLIGHTS –4Q FY2019
CAPITAL
MANAGEMENT
• Income available for distribution of RM35.8million, +6.8% q-o-q
• 2.0989 sen distribution per unit (“DPU”)declared for 4Q FY2019
• Average interest rates for the quarter ‐ Borrowings in Ringgit Malaysia : 5.0%‐ Borrowings in Australian Dollar : 4.5%‐ Borrowings in Japanese Yen : 0.8%
• Debt headroom of ~RM835 million for acquisitions (Leverage limit reduced to 50% under new regulatory guidelines)
1 Financial performances 4Q FY2019
Pangkor Laut ResortPerak Darul Ridzuan, Malaysia
1 April - 30 June 4Q FY2019 4Q FY2018 Change
Total Revenue 118.7 116.6 + 1.8%
- Hotel Revenue (Management Contracts) 78.0 79.0 (1.2%)
- Lease Rental (Master Leases) 40.6 37.6 + 7.9%
Net Property Income (NPI) 60.3 58.1 + 3.7%
- Management Contracts 22.4 23.0 (2.5%)
- Master Leases 37.9 35.1 + 7.8%
Income avai lable for distr ibution 35.8 33.5 + 6.8%
Income distribution 35.8 33.5 + 6.8%
- from current quarter 35.8 33.5 + 6.8%
Distr ibution per unit (DPU) (sen) 2.0989 1.9651 + 6.8%
Payout ratio (%) 100.0 100.0 0.0 pp*
Notes:(1) Increased mainly due to the acquisition of The Green Leaf Niseko Village in September 2018.
All figures in RM million unless indicated otherwise.
4
FINANCIAL PERFORMANCE: 4Q FY2019
* pp = change in percentage points
(1)
(1)
RM ('000)As at 30 June 2019
(Unaudited)
As at 30 June 2018
(Audited)Change
Investment properties 2,732,554 2,371,618 + 15.2%
Property, plant and equipment 1,946,226 1,947,753 (0.1%)
Cash & cash equivalents 148,972 155,457 (4.2%)
Other assets 37,025 36,827 + 0.5%
Total Assets 4,864,777 4,511,655 + 7.8%
Borrowings 2,009,424 1,687,694 + 19.1%
Other liabilities 118,253 105,450 + 12.1%
Total Liabilities 2,127,677 1,793,144 + 18.7%
Net Asset Value (NAV) 2,737,100 2,718,511 + 0.7%
Number of units in circulation ('000) 1,704,389 1,704,389 0.0%
NAV per unit (RM) 1.606 1.595 + 0.7%
5
STATEMENT OF FINANCIAL POSITION
Notes:(1) Increased due to (i) the acquisition of The Green Leaf Niseko Village on 26 September 2018, (ii) surplus on revaluations and (iii) refurbishment of JW Marriott Kuala Lumpur.(2) Increased due to (i) the acquisition of The Green Leaf Niseko Village on 26 September 2018 and (ii) drawdown for refurbishments of Brisbane Marriott and JW Marriott Kuala Lumpur. (3) After total income distribution of RM134.2 million in respect of FY2019.
(3)
(1)
(2)
(3)
6
Quarterly Breakdown
Notes: 1. Quarterly distributions commenced during the financial year ended 30 June 2014.2. DPUs subsequent to the issuance of 380,000,000 new placement units on 16 December 2016 are based on the enlarged number of units in issue.
DPU PERFORMANCE
DPU (sen)
Total DPU
1Q
2Q
3Q
4Q
FY2018 FY2019
Cumulative 134.1 134.2
4Q 33.5 35.8
3Q 33.0 32.6
2Q 33.9 33.0
1Q 33.6 32.8
Total Distributions*
* In RM mi l l ion
6.4855 6.4855
7.63597.3803
8.46137.9746 7.8938 8.0838
7.8683 7.8711
0
5
10
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
1.9737 1.9219
1.9917 1.9387
1.9378 1.9116
1.9651 2.0989
FY2018 FY2019
2,170 2,203
1,872 1,950
539 529
Prior to revaluation After revaluation
- JW Marriott Hotel Kuala Lumpur + RM3.7 mil- The Ritz-Carlton, Kuala Lumpur - Suite Wing + RM5.0 mil- The Ritz-Carlton, Kuala Lumpur - Hotel Wing + RM14.0 mil- Vistana Penang Bukit Jambul + RM2.0 mil- Vistana Kuala Lumpur Titiwangsa + RM2.0 mil- Vistana Kuantan City Centre + RM1.0 mil - Pangkor Laut Resort + RM1.0 mil- Tanjong Jara Resort + RM1.0 mil- Cameron Highlands Resort -- The Majestic Hotel Kuala Lumpur + RM3.0 mil
- Sydney Harbour Marriott + RM69.3 mil- Brisbane Marriott + RM1.0 mil- Melbourne Marriott + RM7.9 mil
- Hilton Niseko Village (RM12.3 mil)- The Green Leaf Niseko Village + RM2.1 mil
7
REVALUATION SURPLUS OF RM101 million DURING 4Q FY2019
AUSTRALIAN properties
RM (million) RM (million)JAPANESE properties
MALAYSIAN properties
Total : 4,581 Total : 4,682
RM (million) RM (million)
8
QUARTERLY FINANCIAL PERFORMANCES
TOTALrevenue NETproperty income
FY2019FY2018
3.7%
1.8%
120.5
134.7129.2
116.6113.9
132.5125.9
118.7
0
50
100
150
1Q 2Q 3Q 4Q
55.1
67.7 67.9
58.156.3
69.3 67.460.3
0
50
100
150
1Q 2Q 3Q 4Q
RM (million) RM (million)
4Q FY20194Q FY2018
9
QUARTERLY FINANCIAL PERFORMANCES BY COUNTRY
TOTALrevenue NETproperty income
2.5%
81.1%73.1%
1.2%
33.5
79.0
4.1
33.5
78.0
7.1
0
50
100
Malaysia Australia Japan
31.7
23.0
3.4
31.7
22.4
6.2
0
50
100
Malaysia Australia Japan
FY2015
10
NPI FOR AUSTRALIA IN AUD AND RM
AUD (million) RM (million)
NPI in RM impacted by the foreign exchange effects of the weaker AUD relative to RM
1.3% 2.5%
FY2014 FY2016 FY2017 FY2018 FY2015FY2014 FY2016 FY2017 FY2018FY2019 FY2019
0
6
12
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
0
20
40
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
11
75.1%
FY2014
NPI FOR JAPAN IN JPY AND RM
JPY (million) RM (million)
NPI in RM impacted by the foreign exchange effects of the stronger JPY relative to RM
81.1%
FY2018FY2015 FY2016 FY2017 FY2014 FY2018FY2015 FY2016 FY2017FY2019 FY2019
0
60
120
180
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q0
2
4
6
8
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
0
5
10
15
20
1.00
1.05
1.10
1.15
1.20
1.25
1.30
1.35
1.40
Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19
-50
-25
0
25
50
0.80
1.00
1.20
1.40
Jan
-12
Ap
r-12
Jul-
12O
ct-1
2Ja
n-1
3A
pr-
13Ju
l-13
Oct
-13
Jan
-14
Ap
r-14
Jul-
14O
ct-1
4Ja
n-1
5A
pr-
15Ju
l-15
Oct
-15
Jan
-16
Ap
r-16
Jul-
16O
ct-1
6Ja
n-1
7A
pr-
17Ju
l-17
Oct
-17
Jan
-18
Ap
r-18
Jul-
18O
ct-1
8Ja
n-1
9A
pr-
19
Notes:(1) As at 28 June 2019.(2) For the quarter ended 30 June 2019.
12
RM
OutperformFBMKLCI
UnderperformFBMKLCI
UNIT PRICE PERFORMANCE
YTL Hospitality REIT’sUnit Price Movement & Relative Performance to FBMKLCI
(1 January 2012 to 30 June 2019)
%
TRADING STATISTIC
Closing price (1) RM1.34
Market Cap (RM) (1) RM2,284 mil
Units issued (1) 1,704,388,889
Average daily traded volume for 4Q FY2019 (‘000 units) (2) 600.0
Source: Bloomberg
Relative Performance(right scale)
YTL Hospitality REIT’sUnit Price Movement & Relative Performance to REIT Index
(1 October 2017 to 30 June 2019)
RM %
OutperformREIT Index
Unit Price (left scale)
Relative Performance(right scale)
Unit Price (left scale)
2 Financial performances: FY2019
JW Marriott Kuala Lumpur, Malaysia
1 July - 30 June FY2019 FY2018 Change
Total Revenue 490.9 501.0 (2.0%)
- Hotel Revenue (Management Contracts) 331.5 359.9 (7.9%)
- Lease Rental (Master Leases) 159.4 141.0 + 13.0%
Net Property Income (NPI) 253.3 248.8 + 1.8%
- Management Contracts 105.3 118.2 (10.9%)
- Master Leases 148.0 130.6 + 13.3%
Income avai lable for distr ibution 134.2 134.1 + 0.0%
Income distribution 134.2 134.1 + 0.0%
- from current year 134.2 134.1 + 0.0%
Distr ibution per unit (DPU) (sen) 7.8711 7.8683 + 0.0%
Payout ratio (%) 100.0 100.0 0.0 pp*
14
Notes: (1) Decreased mainly due to (i) the refurbishment exercise at Brisbane Marriott and (ii) the weakening of Australian Dollar against Ringgit Malaysia.(2) Increased mainly due to (i) the acquisition of The Green Leaf Niseko Village in September 2018 and (ii) full year of contributions from (a) the lease rental income of The Majestic Hotel Kuala Lumpur for FY2019 as
compared to 8 months in FY2018 and (b) the 5% step-up lease rental income for JW Marriott Hotel Kuala Lumpur in FY2019 as compared to 7 months in FY2018.
All figures in RM million unless indicated otherwise.
FINANCIAL PERFORMANCES: FY2019
(1)
(2)
(2)
(1)
* pp = change in percentage points
15
YEARLY FINANCIAL PERFORMANCES
TOTALrevenue NETproperty income
RM (million) RM (million)
1.8%2.0%
109.8
30.1
80.9
292.0
425.1 417.7 426.3449.7
501.0 490.9
0
100
200
300
400
500
600
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
87.1
28.3
75.5
157.0
202.9 201.5 198.9209.6
248.8 253.3
0
50
100
150
200
250
300
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
118.0 118.2
12.7
127.1
105.3
20.8
0
100
200
300
400
Malaysia Australia Japan
124.7
359.9
16.3
134.2
331.5
25.2
0
100
200
300
400
Malaysia Australia Japan
FY2019FY2018
16
TOTALrevenue NETproperty income
FINANCIAL PERFORMANCES BY COUNTRY
RM (million)RM (million)
7.6%
54.5%
7.9%
7.7%
64.6%
10.9%
3 Capital management
Tanjong Jara Resort,Terengganu, Malaysia
995.1
75.0
350.0
207.9
385.0
FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Borrowings in RM Borrowings in AUD
18
DEBT ̂MATURITY PROFILE
Notes:^ Excluding the effects of capitalised transaction costs.
* RM equivalent based on the exchange rate of A$1.00: RM2.9029 as at 28 June 2019.
*
Borrowings in JPY
# RM equivalent based on the exchange rate of JPY100: RM3.8485 as at 28 June 2019.
#
19
CURRENCY INTEREST RATE
DEBT ̂PROFILE AS AT 30 JUNE 2019
Notes:* For the respective Quarter.^ Excluding the effects of capitalised transaction costs.# Computed as NPI / Finance Cost@ The interest rate is hedged and fixed at the effective rate of 4.68% with effect from 29 December 2017.α 49.4% denominated in AUD and 21.2% denominated in RM.β 10.3% denominated in JPY and 19.1% denominated in RM.
α
β
30 June 2019 31 March 2019 Change
Borrowings^ (RM'000) 2,012,966 1,911,133 + 5.3%
Total Asset Value (RM'000) 4,864,777 4,663,208 + 4.3%
Gearing (%) 41.4% 41.0% + 0.4 pp
Average Interest Rates (%) *
- Borrowings in Ringgit Malaysia 5.0% 5.0% 0.0 pp
- Borrowings in Australian Dollar @
4.5% 4.5% 0.0 pp
- Borrowings in Japanese Yen 0.8% 0.8% 0.0 pp
Interest Cover * #
2.8 x 3.2 x -0.4 x
2,013
4,865 835
835
-
1,000
2,000
3,000
4,000
5,000
6,000
Total Borrowings^ Total AssetsNotes:
^ Excluding the effects of capitalised transaction costs.* Leverage limit reduced to 50% under new regulatory guidelines, previous limit of 60% no longer applicable
20
DEBT HEADROOM OF ~RM835 million FOR ACQUISITIONS
RM (million)
2,848
5,700
Gearing = 41.4%(As at 30 June 2019)
Gearing limit = 50%*
4 Asset management
Cameron Highlands Resort, Malaysia
Japan
Hilton Niseko Village
The Green Leaf Niseko Village
Australia
Brisbane Marriott
Sydney Harbour Marriott
Melbourne Marriott
Malaysia (Northern) Vistana Penang Bukit Jambul
Pangkor Laut Resort
Cameron Highlands Resort
Malaysia (Eastern) Tanjong Jara Resort
Vistana Kuantan City Centre
Kuala Lumpur JW Marriott Hotel Kuala Lumpur
The Majestic Hotel Kuala Lumpur
The Ritz-Carlton, Kuala Lumpur –Suite Wing
The Ritz Carlton, Kuala Lumpur –Hotel Wing
Vistana Kuala Lumpur Titiwangsa
Note:(1) Based on investment properties and property, plant & equipment as at 30 June 2019.
22
LUXURY HOTELS & SERVICED RESIDENCES IN 3 COUNTRIES
ASSET breakdown (by Country)(1)
ASSET breakdown (by Contract Type)(1)
23
Notes:(1) Derived by annualising the applicable monthly rental as at 30 June 2019.(2) As at 31 May 2019 (except for JW Marriott Kuala Lumpur which is as at 30 June 2019).(3) RM equivalent based on the exchange rate of JPY100:RM3.8485 as at 28 June 2019.(4) Renovations carried out on the property, rental revision to commence on 1 July 2019. (5) Renovations carried out on the property.
PORTFOLIO VALUATION
FY2018 FY2019 (2 )
Malaysia RM RM RM
JW Marriott Hotel Kuala Lumpur 578 2005 331.0 25.69 424.0 519.0 +56.8%
The Ritz-Carlton, Kuala Lumpur -
Suite Wing 114 2007 & 2011 198.0 16.38 306.0 311.0 +57.1%
The Ritz-Carlton, Kuala Lumpur -
Hotel Wing 251 2011 250.0 21.63 343.0 357.0 +42.8%
Vistana Penang Bukit Jambul 427 2011 100.0 8.61 118.0 120.0 +20.0%
Vistana Kuala Lumpur Titiwangsa 364 2011 100.0 8.61 136.0 138.0 +38.0%
Vistana Kuantan City Centre 215 2011 75.0 6.30 88.0 89.0 +18.7%
Pangkor Laut Resort 97 2011 97.0 8.82 117.0 118.0 +21.6%
Tanjong Jara Resort 100 2011 87.0 7.35 102.0 103.0 +18.4%
Cameron Highlands Resort 56 2011 50.0 4.20 60.0 60.0 +20.0%
The Majestic Hotel Kuala Lumpur 300 2017 380.0 26.60 385.0 388.0 +2.1%
Total Malaysia 2,502 1,668.0 134.19 2,079.0 2,203.0 +32.1%
Japan JPY JPY JPY
Hilton Niseko Village 506 2011 6,000.0 16.32 8,020.0 7,700.0 +28.3%
The Green Leaf Niseko Village 200 2018 6,000.0 12.12 6,000.0 6,060.0 +1.0%
Total Japan 706 12,000.0 28.4 14,020.0 13,760.0 +14.7%
Australia AUD AUD AUD
Sydney Harbour Marriott 595 2012 249.0 n.a. 498.0 500.0 +100.8%
Brisbane Marriott 267 2012 113.0 n.a. 80.0 93.5 (17.3%)
Melbourne Marriott 186 2012 53.0 n.a. 78.4 78.5 +48.1%
Total Australia 1,048 415.0 656.4 672.0 +61.9%
TOTAL 4,256
Changes since
acquisitionAnnual Lease Rental (1 )
(RM million)Property
No. of
Rooms
Year
Acquired
Purchase Price
(million)
Valuation (million)
(4)
(5)
(3)
FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019
Malaysia Under Master Leases
Japan Under Master Leases
Australia – – 83.1% (1) 84.2% 84.4% 86.4% 86.9% 87.8% 84.9%
24
PORTFOLIO OCCUPANCY
Note:(1) For 1 July 2012 to 30 June 2013 which includes certain pre-acquisition period as the properties were acquired on 29 November 2012.
10
32
6
10
5
0
10
20
30
40
2019 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2049
Note:* For 4Q FY2019.
25
MASTER LEASES EXPIRY PROFILE
Master leasesNETproperty income(% of total *)
NETproperty income(% of total *)
216
253 252
214208
251 247
215
0
100
200
300
1Q 2Q 3Q 4Q
AUD
26
REVENUE per available room(RevPAR)
AUSTRALIA HOTEL PERFORMANCE (1 OF 2)
FY2019FY2018
0.3%
246
285 283
249249
298 292
246
0
100
200
300
1Q 2Q 3Q 4Q
87.7 88.7 89.185.8
83.6 84.2 84.587.2
0
50
100
1Q 2Q 3Q 4Q
27
% AUD
Average occupancy
AUSTRALIA HOTEL PERFORMANCE (2 OF 2)
1.3%
Average daily rate (ADR)
1.4pp
FY2019FY2018
28
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
AFTERBEFORE
29
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
BEFORE AFTER
30
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
BEFORE AFTER
31
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
AFTERBEFORE
32
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
AFTERBEFORE
33
BRISBANE MARRIOTT: BEFORE AND AFTER REFURBISHMENT
AFTERBEFORE
5 Appendices
Hilton Niseko VillageHokkaido, Japan
35
AddressNo. 183, Jalan Bukit Bintang, 55100 KualaLumpur
Description
A 5-star hotel with 578 rooms located on partof an 8-level podium block and entire 24-level tower block of Starhill Gallery togetherwith car park bays located partially atbasement 1 and 4 and the entire basement2, 3 and 5 of JW Marriott Hotel Kuala Lumpur
Tenure Freehold
Master lease expiry 31 December 2023
Master lease remaining (1) 4 years
Annual rental (2) RM25.69 million
No. of rooms 578
Acquisition date 16 December 2005
Valuation (3) RM519 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 30 June 2019.
JW MARRIOTT HOTEL KUALA LUMPUR
36
AddressNo. 5, Jalan Sultan Hishamuddin, 50000 KualaLumpur
Description
A 5-star hotel comprising Majestic Wing(original historic hotel building) with 47luxurious suites, Tower Wing with 253guestrooms and suites, Majestic Ballroomwith seating capacity of 1,200 for banquet or1,500 theatre-style, Contango restaurant withseating capacity of 250, Colonial Cafe withseating capacity of 120, Orchid Conservatorywith seating capacity of 15 and 3 levels ofbasement car park
Tenure90-year registered lease expiring on 11 May2091
Master lease expiry 2 November 2032
Master lease remaining (1) 13 years
Annual rental (2) RM26.60 million
No. of rooms 300
Acquisition date 3 November 2017
Valuation (3) RM388 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
THE MAJESTIC HOTEL KUALA LUMPUR
37
Address No. 168, Jalan Imbi, 55100 Kuala Lumpur
Description
Parcel 1: 60 units of hotel suites, 4 levels ofcommercial podium, 1 level of facilities deckand 2 levels of basement car parks
Parcel 2: 50 units of hotel suites, 4 units ofpenthouses and 1 level of basement car park
Tenure Freehold
Master lease expiry 30 June 2031
Master lease remaining (1) 12 years
Annual rental (2) RM16.38 million
No. of rooms 114
Acquisition date 16 May 2007 & 15 November 2011
Valuation (3) Parcel 1: RM210 millionParcel 2: RM101 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
THE RITZ-CARLTON, KUALA LUMPUR –SUITE WING
38
Address No. 168, Jalan Imbi, 55100 Kuala Lumpur
Description22-storey 5-star hotel building comprising251 rooms with 4-storey basement car parks
Tenure Freehold
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM21.63 million
No. of rooms 251
Acquisition date 15 November 2011
Valuation (3) RM357 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
THE RITZ-CARLTON, KUALA LUMPUR –HOTEL WING
39
AddressNo. 9, Jalan Lumut, Off Jalan Ipoh, 50400Kuala Lumpur
Description17-storey hotel building with 364 rooms and2-storey basement car parks
Tenure Freehold
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM8.61 million
No. of rooms 364
Acquisition date 15 November 2011
Valuation (3) RM138 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
VISTANA KUALA LUMPUR TITIWANGSA
40
AddressNo. 213, Jalan Bukit Gambier, Bukit Jambul,11950 Pulau Pinang
Description17-storey Hotel Wing with 238 hotel roomsand 26-storey Suite Wing with 189 hotelsuites with an annexed 3-storey podium
Tenure99-year leasehold expiring on 27 October2094
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM8.61 million
No. of rooms 427
Acquisition date 15 November 2011
Valuation (3) RM120 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
VISTANA PENANG BUKIT JAMBUL
41
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) 7 years
Annual rental (2) RM6.30 million
No. of rooms 215
Acquisition date 15 November 2011
Valuation (3) RM89 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
VISTANA KUANTAN CITY CENTRE
42
AddressPangkor Laut Island, 32200 Lumut, PerakDarul Ridzuan
Description36 units of Garden Villas, 52 units of HillVillas, 8 units of Beach Villas and 1 unit ofPavarotti Suite
Tenure99-year registered lease expiring on 21 May2095
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM8.82 million
No. of rooms 97
Acquisition date 15 November 2011
Valuation (3) RM118 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
PANGKOR LAUT RESORT
43
AddressBatu 8, Off Jalan Dungun, 23000 Dungun,Terengganu Darul Iman
Description Small luxury boutique resort with 100 rooms
Tenure60-year leasehold expiring on 4 December2067
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM7.35 million
No. of rooms 100
Acquisition date 15 November 2011
Valuation (3) RM103 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.
TANJONG JARA RESORT
44
AddressBy the Golf Course, 39000 Tanah Rata,Cameron Highlands, Pahang Darul Makmur
Description3-storey luxury resort with a 2-storey spavillage block with 56 rooms and suites and asingle storey building
Tenure99-year leasehold expiring on 9 December2108
Master lease expiry 14 November 2026
Master lease remaining (1) 7 years
Annual rental (2) RM4.20 million
No. of rooms 56
Acquisition date 15 November 2011
Valuation (3) RM60 million
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019. 3. As at 31 May 2019.
CAMERON HIGHLANDS RESORT
45
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.4. RM equivalent based on the exchange rate of JPY100:RM3.8485 as at 28 June 2019.
Address Aza-Soga, Niseko-cho, Abuta-gun, Hokkaido
Description16-storey hotel building with 1-storey ofbasement comprising 506 rooms
Tenure Freehold
Master lease expiry 21 December 2026
Master lease remaining (1) 7 years
Annual rental (2) RM16.32 million
No. of rooms 506
Acquisition date 22 December 2011
Valuation (3, 4) JPY7,700 million (RM296.33 million)
HILTON NISEKO VILLAGE
46
Notes: 1. Lease remaining calculated as at 30 June 2019. There is an option for the lessee to renew the lease upon expiry.2. Derived by annualising the applicable monthly rental as at 30 June 2019.3. As at 31 May 2019.4. RM equivalent based on the exchange rate of JPY100:RM3.8485 as at 28 June 2019.
Address1, 6 and 7, Aza-Higashiyama, Niseko-cho,Abuta-gun, Hokkaido
Description5-storey hotel building with 1-storey ofbasement comprising 200 rooms
Tenure Freehold
Master lease expiry 25 September 2048
Master lease remaining (1) 29 years
Annual rental (2,4) JPY315 million (RM12.12 million)
No. of rooms 200
Acquisition date 26 September 2018
Valuation (3, 4) JPY6,060 million (RM233.22 million)
THE GREEN LEAF NISEKO VILLAGE
47
Notes: 1. As at 31 May 2019.2. RM equivalent based on the exchange rate of A$1.00:RM2.9029 as at 28 June 2019.
Address 30 Pitt Street, Sydney, New South Wales
Description33-storey hotel building with central atriumcomprising 595 rooms including 3 levels ofbasement with car parking bays
Tenure Freehold
No. of rooms 595
Acquisition date 29 November 2012
Valuation (1, 2) AUD500 million (RM1,451.45 million)
SYDNEY HARBOUR MARRIOTT
48
Notes: 1. As at 31 May 2019.2. RM equivalent based on the exchange rate of A$1.00:RM2.9029 as at 28 June 2019.
Address 515 Queen Street, Brisbane, Queensland
Description28-storey hotel building comprising 267rooms with 3 levels of basement with carparking bays
Tenure Freehold
No. of rooms 267
Acquisition date 29 November 2012
Valuation (1, 2) AUD93.5 million (RM271.42 million)
BRISBANE MARRIOTT
49
Notes: 1. As at 31 May 2019.2. RM equivalent based on the exchange rate of A$1.00:RM2.9029 as at 28 June 2019.
AddressCorner Exhibition and Lonsdale Streets,Melbourne, Victoria
Description16-storey hotel building comprising 186rooms with 5 split levels of car park
Tenure Freehold
No. of rooms 186
Acquisition date 29 November 2012
Valuation (1, 2) AUD78.5 million (RM227.88 million)
MELBOURNE MARRIOTT
This presentation shall be read in conjunction with YTL Hospitality REIT’s interim financial report for the quarter ended 30 June 2019, a copy of which is availableon www.bursamalaysia.com and www.ytlhospitalityreit.com.
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This presentation may contain forward looking statements which are subject to changes due to a number of risks, uncertainties and assumptions. Representativeexamples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availabilityincluding availability of financing in the amounts and on the terms necessary to support future business, availability of real estate properties, competition fromother companies/entities, changes in operating expenses including employee wages, benefits and training and property expenses and regulatory and publicpolicy changes. These forward looking statements are based on estimates and assumptions of the management’s current view of future events and these forwardlooking statements speak only as at the date of which they are made. None of YTL Hospitality REIT, its trustee, its manager, any of its or their respective agents,employees or advisors intends or has any duty or obligation to supplement, amend, update or revise any forward looking statement contained herein to reflectany changes in circumstances, conditions, events or expectations upon which any such forward looking statement is based. Past performance is not necessarilyindicative of its future performance. Nothing in this presentation is, or should be relied on, as a promise or representation as to the future.
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Any discrepancy between the individual amounts and the total thereof in this document is due to rounding.50
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PINTAR PROJEK SDN BHD314009-W
Manager of YTL Hospitality REIT11th FloorYeoh Tiong Lay Plaza55 Jalan Bukit Bintang55100 Kuala LumpurMalaysia
Tel: 603 2117 0088603 2142 6633
Fax: 603 2141 2703Email: [email protected]