1 ST HALF 2013 HOSPITALITY HIGHLIGHTS KLANG VALLEY / KUALA LUMPUR. Tourist Arrivals Boom!!!

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1 1 ST HALF 2013 HOSPITALITY HIGHLIGHTS KLANG VALLEY / KUALA LUMPUR Tourist Arrivals Boom!!!

2 Hospitality Highlights 1H 2013 International Tourist Arrivals The first half of 2013 saw international tourism grew beyond expectations with the international tourist arrivals reaching almost half a billion, a growth of 5% compared to the same period during 2012 according to UNWTO recent released data. The growth exceeds initial forecast of 3% to 4%. Countries with emerging markets witnessed stronger growth of 6% in tourist arrivals compared to 4% growth in developed countries. The palpable growth in international tourism growth was lead primarily by the robust growth in tourist arrivals for Asia-Pacific and Europe regions. Asia- Pacific recorded an increase of 6% in tourist arrivals with arrivals to South- East Asia increases by 12% and 7% to South Asia. Europe, on the other hand, observed an increase of 5% in international tourist arrivals despite the economic crisis. The Americas and Africa region too saw growth in international arrivals. Americas recorded a weaker than anticipated growth at 2% while Africa sustained its 4% growth. International arrivals is expected to continue its growth momentum, albeit at a slower pace, towards the second half of 2013.

3 The Market Klang Valley Hospitality Market 1H 2013 Malaysia continues to be one of the top tourist country with the increasing influx of tourist arrivals. United Nations World Tourism Organization (UNWTO), has been constantly acknowledging this by listing Malaysia in their yearly top ten list of most-visited countries in the world wherein Malaysia attracted about 25 million international tourist arrivals in 2012, thus garnering RM60.6 Billion in tourism receipts Grand Hyatt Kuala Lumpur Tourist Arrivals Klang Valley hospitality market performed reasonably well during the first half of 2013, albeit the election jitters. This is mainly driven by the substantial growth in tourist arrivals during the first six months. Tourist arrivals grew by 7.9% to 12,552,731 during the first half of 2013 compared to 11,632,478 arrivals during the corresponding period last year. Singapore remained the main contributor to tourist arrivals with a whopping 6,295,567 arrivals, an increase of 7.9%, followed by Indonesia and China with 1,242,055 (+12.1%) and 943,756 (+24.5%) arrivals respectively. In general, tourist arrivals from most of the countries recorded growth with the exception of Thailand (-8.9%), India (-4.6%), New Zealand (-8.1%), Middle East countries and few others. Meanwhile tourist receipts, as of first quarter of 2013, also grew by 16.7%, generating RM14.99bil to the country s revenue as compared to RM12.84bil during the corresponding period last year. Visit Malaysia Year 2014 The launch of the Visit Malaysia Year 2014 campaign early this year is a major boost to the tourism and hospitality industry. There are various promotional packages and tours offered and being planned under the Visit Malaysia Year 2014 Campaign as part of the initiatives to promote Malaysia as a tourist destination to other countries. The Visit Malaysia campaign is to be based on four themes namely Heritage & Culture, Adventure & Nature, Wellness & Spa, and Island & Beaches, which are touted to highlight the diverse attractions in Malaysia. The Visit Malaysia Year 2014 Campaign was launched with the aim to attract 28 million arrivals with RM75 billion in tourism receipts. It is further anticipated that the figure would subsequently reach the Malaysia Tourism Transformation Plan s ultimate target of 36 million tourists and RM168bil in receipts by Aloft Kuala Lumpur Sentral Ministry of Tourism is positive to achieve a 7.1% growth in tourist arrivals this year, compared to 25 million last year, thus targeting RM65bil in tourist receipts.

4 The Market Foraying into Niche Tourism Lately, Malaysia s tourism industry is gradually beckoning towards special niches in tourism sector, thus branching out from being solely dependent on the conventional tourism. MICE Tourism Business tourism is identified as one of the key sectors to stimulate economic growth under the government s Economic Transformation Programme (ETP). Several niche tourism subsectors are growing at a fast rate due to the demand from tourists from across the world. Among the prominent subsectors in our country are medical tourism and MICE tourism. Medical Tourism Medical tourism in Malaysia is ranked in the top five destinations for health tourism. The number of foreign patients seeking treatment in Malaysia are growing at an annual average of about 18%. In 2012, Malaysia received 671,000 medical tourists with majority of them originated from Singapore, Indonesia, Japan, and West Asia. Malaysia targets of becoming a highly favorable MICE destination by increasing business tourism arrivals from 5 percent (1.2 million) to 8 percent (2.9 million) of the overall tourist arrivals by year 2020, contributing RM3.9 billion (USD1.2 billion) to the country s Gross National Income (GNI). In tandem with government s intention to increase business tourists, MyCEB (Malaysia Convention Exhibition Bureau) has successfully secured 45 major MICE events in 2012, therefore attracting a total number of 61,659 delegates and an estimated revenue of RM597 million. The Malaysia Healthcare Travel Council (MHTC) expects to receive 700,000 medical tourists and to earn RM630 million from medical tourism compared to RM600 million revenue that was generated last year.

5 Supply & Demand Source: Zerin Properties Research The total hotel rooms in Klang Valley as of June 2012 stands at 41,495 following the opening of two new hotels during the first quarter of 2013 namely 484-rooms Aloft Hotel Kuala Lumpur Sentral (Starwood Hotels and Resort s sixth hotel brand and largest Aloft hotel in the world) and 90-rooms Premiera Hotel at Jalan Tuanku Abdul Rahman, a four-star brand created by the Impiana Group. The review period also witnessed the closure of 5-star Crowne Plaza Mutiara Kuala Lumpur (565 rooms) to make way for the proposed new mixed development project known as the Tradewinds Centre. From the current total of 41,495 rooms, about 30,148 rooms or 72.65% are located within Kuala Lumpur (KL) and the remaining 11,347 rooms (27.35%) are located outside the city limits (OKLC). The present supply of 3-star, 4-star and 5-star hotel rooms in Klang Valley stands at 9,412, 14,527 and 11,836 respectively following the opening of the two new hotels and closure of Crowne Plaza Mutiara Kuala Lumpur. Recently, Alila Hotels and Resorts group announced intention to make its debut in Peninsular Malaysia through the opening of boutique hotel Alila Bangsar KL that is slated to open by early 2017 at a mixed development known as The Establishment, which will be located opposite Menara UOA Bangsar. The Alila Bangsar KL hotel will comprise 124 rooms and will be housed on the top five floors of the 41-storey mixed development. Another new hotel development was announced by KLCC (Holdings) Sdn Bhd whereby it will develop a new mixed-commercial project on a 1.6 hectares land between Suria KLCC and the Asy-Syakirin mosque through a 50:50 joint venture with the Qatari Investment Authority via QD Asia Pacific Ltd. The mixed commercial development will consists of a 76-storey hotel, serviced apartments, residences and associated facilities; 64-storey office units; six-storey retail podium; and basement car park. The development is expected to be completed by end of 2017.

6 Supply & Demand A number of new hotel projects are in different stages of development. The following table shows the anticipated future supply of hotels in Klang Valley. Future Supply of Hotels in Klang Valley Source: Zerin Properties Research / Malaysian Association of Hotels (MAH)

7 Klang Valley Overall 3 to 5 Star Hotels Occupancy Rate Hotel occupancies during the first half of 2013 was slightly affected due to the uncertainty over when the 13th general election will be held. Average Occupancy Rates for 3-5 Star Hotels in Klang Valley The occupancy rate of 4-star and 3-star in Klang Valley during 1H 2013 was at 65% and 65.67% respectively, a slight decrease compared to 66.70% and 70% in second half of The occupancy rates for both 4-star and 3- star in 1H 2013 were also lower than 67% and 67.84% that was recorded in the corresponding period last year. However, the 5-star segment improved slightly to 70.57% durin g the review period compared to 70% in 2H 2012 and 68.48% in 1H Average Room Rate The average room rate (ARR) for 5-star hotels in Klang Valley was at RM355 during the first half of 2013, slightly higher than RM346 and RM344 that were recorded during second and first half of Average Room Rates for 3-5 Star Hotels in Klang Valley The ARR for 4-star hotel segment, on the other hand, declined to RM229 during the review period from RM237 in second half of 2012 but increased from RM224 in 1H Meanwhile, ARR for 3-star hotels was at RM162, increased from RM160 in 2H 2012 and RM153 in 1H 2012.

8 Kuala Lumpur Overall 3 to 5 Star Hotels Supply Total Supply of 3-5 Star Hotels in KL City As of June 2013, the total supply of 3 to 5 star hotel rooms in Kuala Lumpur stood at 24,158, of which about 7,373 rooms or 30.52% falls under 5-star category. The total supply of 5-star hotel rooms declined from 7,938 rooms due to the closure of Crowne Plaza Mutiara Kuala Lumpur during the review period. Occupancy Rate The occupancy for 5-star hotels in Kuala Lumpur during first half of 2013 was at 77.53%, declined slightly from 78% during 2H 2012 but increased from 76% in 1H Average Occupancy Rates for 3-5 Star Hotels in Kuala Lumpur Both 4-star and 3-star segments recorded slight decline in occupancy rates during the review period compared to first and second half of The occupancy rate for 4-star and 3-star were at 67% and 66% respectively during 1H 2013 as compared to 71% and 70% in 2H 2012 and 69% and 68% during 1H 2012.

9 Kuala Lumpur Overall 3 to 5 Star Hotels Average Room Rate Average room rates (ARR) for 3-star, 4-star and 5-star hotels in Kuala Lumpur during first half of 2013 were at RM171, RM232 and RM382 respectively. The average room rates for 3-star and 5-star were maintained at about the same rate as per the rates in 2H 2012 but grew from the rates that was recorded during 1H Average Room Rates for 3-5 Star Hotels in Kuala Lumpur The ARR for 4-star hotels, however, decreased from the rates that was recorded in both the first and second half of During 2H 2012, average room rates for 3- star, 4-star and 5-star hotels were at RM170, RM251 and RM382 respectively. The ARR for 4-star declined about 7.6% from the 2H 2012 rate while 3-star and 5- star maintained about the same rates during 1H The ARR for 3-star, 4-star and 5-star during 1H 2012 were at RM161, RM235 and RM376.

10 Budget Hotel Kuala Lumpur Supply As of 1H 2013, the total supply of budget hotel rooms in Kuala Lumpur stood at 5,990. There was no completion of new hotels under this category during the review period. Average Room Rates & Occupancy Rate For Budget Hotels in Kuala Lumpur Occupancy Rate & Average Room Rate Occupancy for budget hotels in Kuala Lumpur during 1H 2013 declined slightly from 62% in 2H 2012 and 59% in 1h 2012 to 58%. Meanwhile, the average room rate (ARR) for budget hotels revolved around the range of RM100 during 1H 2013, similar to the rates that were recorded during the first and second half 2012.

11 Serviced Apartment Kuala Lumpur Supply Presently, there are 31 service apartment properties with a total of 5,627 units in Kuala Lumpur with the completion of the 150-units Lanson Place Bukit Ceylon and addition of the existing 209-units One-Stop Serviced Residence at Jalan Metro Pudu 2 that was built in There a number of new serviced apartments that are pipelined to come on stream in Klang Valley which include the 240-units of the premium floors of 34-storey Camellia Serviced Suites (Level 22 to 31) which will be managed by Frasers Hospitality Pte Ltd under the Capri brand (end of 2013) and the three new serviced apartments of Ascott Group namely 143-units Ascott Serviced Residences at KL Sentral (1Q 2014), 232- units Citadines D Pulze Cyberjaya (2014) and 200-units Somerset Damansara Uptown Petaling Jaya (2016). Occupancy Rate & Average Room Rate Occupancy for service apartments in Kuala Lumpur during 1H 2013 was at 70.44%, declined from 73% in second half of 2012 but increased slightly from 70% during first half of Meanwhile, the average room rate for service apartments were recorded at RM289 during the review period which increased from RM287 in 2H 2012 and RMr280 in 1H As at June 2013, the notable Ascott Kuala Lumpur recorded an ARR of RM510 while the ARR for Garden Residences stood at RM449. Average Room Rate & Occupancy Rate for Service Apartment in Kuala Lumpur

12 Outlook In general, the performance of Klang Valley hospitality market during the first half of 2013 was slightly affected in terms of occupancy due to uncertainty over the 13 th general election. However, the positive outcome of the 13 th general election coupled with the many initiatives planned and being executed under the Visit Malaysia 2014 Campaign, enabled the hospitality industry to remain resilient throughout the review period. The hospitality market is expected to witness stronger growth in the second half of 2013 due the anticipated entry of branded hotels in the near future such as the St. Regis in 2014, The Regent in 2015, Four Seasons Place Kuala Lumpur and W Kuala Lumpur in 2016 and the continuous effort to promote Malaysia as prime tourist destination under the Visit Malaysia 2014 Campaign as well as the upcoming Budget 2014 which is believed to unveil some good news for the tourism industry. Artist impression of the upcoming 7-star Harrods Hotel Level 1, Block B, Damansara Office Complex, Jalan Dungun, Kuala Lumpur. Tel : Fax : Toll Free Line :

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