Peppers Docklands, Melbourne

Size: px

Start display at page:

Download "Peppers Docklands, Melbourne"

Edmund Boyd
5 years ago
Views:

1 Peppers Docklands, Melbourne

2 Contents Mantra Group Overview State of Market 8 3 Australian Market Mantra Group Mantra Salt, Kingscliff

3 Peppers Noosa, Noosa

Mantra Group* CBD - RevPAR (A$) Largest Australia-based hotel and resort operator 20,500+ rooms under management in 125+ properties across Australia, New Zealand, Bali Indonesia and Hawaii

4 Mantra Group* CBD - RevPAR (A$) Largest Australia-based hotel and resort operator 20,500+ rooms under management in 125+ properties across Australia, New Zealand, Bali Indonesia and Hawaii Successfully listed on the Australian Securities Exchange in June 2014 Quality, diversified property portfolio with long tenure average remaining agreement tenure of 18 years 5,000+ employees RevPAR % occupancy 85.9% 84.1% 84.5% 81.7% 78.7% 76.9% FY11 FY12 FY13 FY14 FY15 1H16 90% 85% 80% 75% 70% 65% Operating segment Resorts RevPAR (A$) Central distribution 30% Resorts 23% CBD 47% *Includes Ala Moana, Honolulu which settles in July RevPAR % occupancy 75.3% 69.5% 65.6% 64.0% 62.5% % FY11 FY12 FY13 FY14 FY15 1H16 80% 75% 70% 65% 60% 55% 50% 4

8 Peppers Soul, Surfers Paradise

9 Supply & Demand % Change, December 2015 YTD 6% 5% 4% 3% 2% 1% 0% -1% Supply Demand -2% North America Central & South America Europe Middle East Africa Asia Australia & Oceania Source: STR, December

10 Source: 100 Years of Commercial Flight, IATA & Global Market Forecast, Flying by Numbers,

11 Source: UNWTO Tourism Highlights, 2015 Edition 11

12 Source: Global Market Forecast

13 Source: Flight Centre, The Golden Age of Travel, 21 April

14 Source: McKinsey Global Institute, Urban world: Cities and the rise of the consuming class, June

15 15 Source: PWC, Australia s Jobs Future

16 (m) Outbound tourists Growth (RHS) (%) Cagr 11% Cagr 15% 05A 07A 09A 11A 13A 15CL 17CL 19CL Source: CLSA, The next wave, December

4% Australia 22,116 4.2% Malaysia 29,680 5.6% India 46,700 8.

17 Total of 528,094 rooms in the pipeline for the listed regions Singapore 6, % Vietnam 16, % South Korea 10, % Thailand 18, % Australia 22, % Malaysia 29, % India 46, % Indonesia 60, % China 316, % 0 100, , ,000 Source: STR, April

18 Peppers Beach Club & Spa, Palm Cove

19 Source: Tourism Research Australia, Tourism Forecasts

20 8,000, Year International Short-term (less than one year) 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 - FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 International Arrivals Source: ABS 20

21 26.00% 25.00% 24.00% 23.00% 22.00% 21.00% 10 Year - International Room Nights % for Hotel/Resort/Motel or Motor Inn 78.00% 77.00% 76.00% 75.00% 74.00% 73.00% 10 Year - Domestic Room Nights % for Hotel/Resort/Motel or Motor Inn International Domestic Source: Tourism Research Australia 21

22 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15F FY16F FY17F FY18F FY19F FY20F FY21F FY22F (rooms) 120,000 Hotel rooms 100,000 80,000 60,000 40,000 20,000 0 Source: Dransfield (CLSA, The next wave, December 2014) 22

23 75% 73% 71% 69% 67% 65% 63% 61% 59% 57% 55% $200 $160 $120 $80 $40 ROOM OCC% ROOM RATE REVPAR Poly. (ROOM OCC%) Poly. (ROOM RATE) Poly. (REVPAR) Source: Tourism Research Australia, Tourism Forecasts 2015 (Deloitte Access Economics, Tourism & Hotel Market Outlook August 2015) 23

24 Peppers Cradle Mountain, Tasmania

25 25

26 Mantra Group has demonstrated a flexibility in its approach to operating agreements 26

27 Revenue (A$mm) 600 Revenue % growth 25% % 7.2% 21.7% 4.5% 2.5% FY11 FY12 FY13 FY14 FY15 1H16 20% 15% 10% 5% 0% EBITDA (A$mm) EBITDA % margin 12.2% 13.0% 13.6% 13.5% % % 53 20% 16% 12% 8% 4% 0 FY11 FY12 FY13 FY14 FY15 1H16 0% 27

Largest category marketer in Australia A$20mm+ annual sales & marketing spend 25,000+ online hits per day #1 Australia based hotel & resort operator 19,500+ rooms under management A$7bn+ assets under

28 Largest category marketer in Australia A$20mm+ annual sales & marketing spend 25,000+ online hits per day #1 Australia based hotel & resort operator 19,500+ rooms under management A$7bn+ assets under management Large hotel leasing portfolio Significant bargaining power 3 high awareness brands Best-in-class structures Centralised low-cost group operating model 50%+ gross margins Market leading sales support 60 sales specialists Cater to corporate, leisure & property-based divisions Complete investor offering Real estate sales & branding In house design & renovation Flexible & tailored operating models Caters to the requirements of all kinds of stakeholders 28

29 Australia New Zealand Indonesia Malaysia Singapore Thailand Hawaii Map is not to scale 29

30 30

31 31

32 32

33 33

34 IPO in Jun-14: Peppers: 30 properties / 2,271 rooms Mantra: 58 properties / 7,591 rooms BreakFree: 26 properties / 1,919 rooms Launched BreakFree on Clarence, a 52 room hotel in Sydney CBD Oct-14 Dec-14 Launched Mantra Bell City (383 rooms) and BreakFree Bell City (461 rooms) in Melbourne Jan-15 Apr-15 Reached an aggregate of 119 properties and 13,000+ rooms Jun-15 Secured a hotel management agreement for a 261-room resort on the Nusa Dua Peninsular, Bali Jul-15 Reached an aggregate of 125+ properties and 19,500+ rooms Jan-16 Dec-15 Acquired Outrigger Hotels & Resorts for $29.5mm Launched Pepper Docklands in Melbourne CBD Jul-16 Settle Ala Moana Hotel, Hawaii (1,176 rooms) Jul-14 Dec-14: Peppers: 29 properties / 2,245 rooms Jun-14 Launched Peppers brand in Canberra with an 80 room CBD hotel Mantra: 60 properties / 7,704 rooms BreakFree: 25 properties / 1,848 rooms 34

35 Income statement (A$mm) FY15 1H16 Revenue Total operating expenses (426) (259) EBITDAI %margin 14.7% 15.7% Depreciation, amortisation (excluding amortisation of lease rights) and impairment (15) (9) EBITA Amortisation of lease rights (4) (2) EBIT %margin 11.0% 12.1% Net interest (4) (3) Pretax income Tax (15) (11) Net income %margin 7.3% 7.9% Balance sheet (A$mm) Dec-15 Cash and cash equivalents 42 Trade and other receivables 69 Other current assets 6 Current assets 117 PPE 121 Intangible assets 475 Other non-current assets 1 Total non-current assets 596 Total assets 713 Trade and other payables 45 Other 61 Total current liabilities 106 Borrowings 160 Deferred tax liabilities 93 Other non-current liabilities 3 Total non-current liabilities 257 Total liabilities 363 Net assets 350 Note: Financial year ends in June 1 EBITDAI Earnings Before Interest, Taxation, Depreciation, Amortisation and Impairment 35

36 Mantra South Bank, Brisbane

SET Opportunity Day #3/2011

SET Opportunity Day #3/2011 2Q11 & 1H11 Performance & Outlook 18 August 2011 The views expressed here contain some information derived from publicly available sources that have not been independently verified.