1 / Corporate Presentation Q3 2013

Transcription

1 1 / Corporate Presentation Q3 2013

2 Carlson Rezidor Hotel Group 668hotels 76,800 rooms 204 hotels 35,000 rooms 433 hotels 95,000 rooms THE AMERICAS ASIA PACIFIC EMEA 2 /

3 Creation of the Carlson Rezidor Hotel Group: A strategic, global partnership refined to exploit synergies Key Objectives Establish clear, compelling positioning for each brand Deliver the brand promises Accelerate global development Win the revenue battle Build a global team and organisation 3 /

4 One of the world s ten largest hotel groups No 10 worldwide RANK COMPANY 2013 HOTELS 2013 ROOMS No 5 in Europe RANK COMPANY 2013 HOTELS 2013 ROOMS 1 INTERCONTINENTAL 4, ,000 2 HILTON 3, ,000 3 MARRIOTT 3, ,000 4 WYNDHAM 7, ,000 5 CHOICE 6, ,000 6 ACCOR 3, ,000 7 STARWOOD 1, ,000 8 BEST WESTERN 4, ,000 9 HOME INNS 1, , CARLSON REZIDOR 1, ,000 1 ACCOR 2, ,000 2 BEST WESTERN 1,312 90,600 3 INTERCONTINENTAL ,200 4 GROUPE DU LOUVRE (*) ,400 5 CARLSON REZIDOR (**) ,800 6 NH HOTELES ,800 7 WHITBREAD ,700 8 HILTON ,600 9 MELIA , MARRIOTT ,600 SOURCE I MKG Hospitality 2013 (*) Louvre Hotels Group + Concorde Hotels (**) Rezidor + Park Plaza + Radisson Edwardian 4 /

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6 Publicly listed on Stockholm Stock Exchange since 2006 A portfolio of 433 hotels & 95,000 rooms; 35,000 employees 70+ countries across Europe, the Middle East & Africa 2 strong core brands: Radisson Blu (upper upscale), Park Inn by Radisson (mid-scale) Member of the Carlson Rezidor Hotel Group, one of the world's ten largest hotel groups

7 Our Mission What we do! We provide unique Yes I Can! service

8 Our Vision We will be recognised as: The most passionate team of hoteliers Building outstanding guest loyalty by providing memorable experiences Committing to attracting, developing and retaining talent 8 /

9 Our Vision We will be recognised as: The most innovative and responsible organisation Leading the industry in anticipating trends and responding to changing customer needs Caring for our planet and acting in a sustainable way 9 /

10 Our Vision We will be recognised as: The most dynamic hotel company in EMEA Operating distinctive and market leading brands Being the leader in the Nordics and Emerging Markets 10 /

11 Our Vision We will be recognised as: The preferred hotel company to invest in and to do business with Delivering consistent and compelling financial returns to our owners and shareholders Valuing strong and long-term relationships with all stakeholders 11 /

12 Our Values

13 Our Credo Whatever you do, DO WITH INTEGRITY. Wherever you go, GO AS A LEADER. Whomever you serve, SERVE WITH CARING. Whenever you dream, DREAM WITH YOUR ALL. And never, ever give up. CURTIS CARLSON

14 OCT Powerful presence in EMEA presence in 70+ countries 430+Hotels 95,000 Rooms Owned Franchised Leased Managed

15 Our core brands: Radisson Blu and Park Inn by Radisson UPPER UPSCALE 265 HOTELS 63,700 ROOMS UPSCALE 159 HOTELS 29,800 ROOMS MIDSCALE Hotels and rooms In operation and under development dated Q3 2013

16 Hilton Marriott Crowne Plaza Sheraton Hilton Marriott Crowne Plaza Sheraton Radisson Blu remains Europe s largest upper-upscale hotel brand Number of Hotels Number of Rooms ,000 45,000 43, ,000 35,000 37, , ,000 20,000 15,000 21,200 16,400 15, , , SOURCE / MKG Hospitality Database / March 2013 (In Operation) 16 /

17 Profitable, asset-light and sustainable growth focused on Emerging Markets In operation Q Pipeline Q Total Q by 2015/16 25% 16% 19% 40% 47% 4% 13% 38% 50% Emerging Markets 22% 28% 16% 34% 50% Home Markets NOR RoWE EE MEAO NOR RoWE EE MEAO NOR RoWE EE MEAO 24% 22% 8% 20% 18% 54% 92% 62% Leased Managed Franchised Leased Managed Franchised Leased Managed Franchised 336 hotels 74,700 rooms 97 hotels 20,200 rooms 433 hotels Almost 95,000 rooms

18 An award-winning Responsible Business Programme Our Scandinavian DNA First to launch RB programme 1990s 3 Pillars of Responsible Business World Childhood Foundation as global charity organisation One of the World s Most Ethical Companies for 4 consecutive Years Latest initiative: Health, Safety & Security for guests and employees Reduced environmental impact Respect for social and ethical issues within the company Think Planet targeting 25% energy consumption reduction by 2016

19 19 / FINANCIAL PERFORMANCE Q3-2013

20 Q3 2013: Higher market share and profitability RevPAR +5.9% (L/L) 10% EBITDA Margin +2.6pp 23m EBITDA + 5m 15m EBIT + 7m L/L RevPAR growth of 5.9%, driven by both occupancy and rate Reported RevPAR growth of 0.8%, negatively impacted by the strengthening of the Euro Market share (RGI) up 2.3% August YTD Strict cost control and the 2012 terminations of unprofitable leases led to solid conversion of revenue to EBITDA EBITDA up MEUR 5 to MEUR 23 and margin up by 2.6pp to 10.0%. EBIT up MEUR 7 to MEUR 15 and margin up by 3.1pp to 6.7% Cash Flow from operating activities up by MEUR 17 YTD New Asset Management transaction in October Rezidor and Formosa have mutually agreed to end the alliance agreement for Regent 20

21 L/L RevPAR improvement of 5.9% driven by both occupancy and rate growth L/L Occupancy L/L Average Room Rate L/L RevPAR 10% 8% 6% 4% 2% 6.5% 3.0% 2.3% 3.2% 5.6% 5.9% 4.6% 4.2% 5.7% 6.0% 5.9% 0% -2%

22 Emerging Markets driving RevPAR; led by Russia, the Baltics, South Africa and UAE NORDICS REST OF WESTERN EUROPE 25% L/L Occupancy L/L Average Room Rate L/L RevPAR 25% L/L Occupancy L/L Average Room Rate L/L RevPAR 15% 5% 1.7% 1.8% 0.8% 3.4% 0.7% 8.8% 3.8% 15% 5% 3.1% 2.0% 3.6% 2.2% 1.2% 4.2% 4.8% -5% -5% Q1 Q2 Q3 Q4 Q1 Q2 Q Q1 Q2 Q3 Q4 Q1 Q2 Q EASTERN EUROPE MIDDLE EAST & AFRICA L/L Occupancy L/L Average Room Rate L/L RevPAR L/L Occupancy L/L Average Room Rate L/L RevPAR 25% 15% 5% 12.2% 11.9% 6.1% 5.7% 4.0% 1.2% 8.4% 25% 15% 5% 10.8% 17.1% 13.0% 7.9% 20.5% 13.5% 7.8% -5% -5% Q1 Q2 Q3 Q4 Q1 Q2 Q Q1 Q2 Q3 Q4 Q1 Q2 Q

23 Margin improvement on track in pursuit of Route 2015 objectives EBITDAR, MEUR / EBITDAR margin, % EBITDAR margin: EBITDAR, MEUR EBITDAR margin %, Rolling 12-months Route 2015 gaining momentum % 34% Solid progression since Q % 3 rd party benchmark confirms a leading EBITDAR margin % 31% 30% EBITDA margin: 0 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 29% Steady increase since Q EBITDA, MEUR / EBITDA margin, % Margin target of 10-12% remains EBITDA, MEUR EBITDA margin %, Rolling 12-months Cost optimisation program yields the targeted saving objectives Revenue optimisation in close cooperation with Carlson and Asset Management are the key drivers % 6% 4% 2% -20 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 0%

24 Asset Management contributes more than MEUR 5 on the EBITDA improvement in 2013 In MEUR Exit Fee Revenue Impact 2013 EBITDA Impact Exit from seven leases in France Exit from two leases in Sweden Exit from a committed management contract Contract extensions, renovation/restructuring two leases in ROWE Rent restructuring one lease in ROWE Total EBITDA margin impact of 0.7% from above listed Asset Management deals Further progress expected in Q4

25 Q Q3 signings emphasize strategic focus on Emerging Markets SIGNINGS Q Q YTD 2013 YTD 2012 Hotels Rooms 1,400 2,000 4,300 5,900 Park Inn Pulkovo Airport, St. Petersburg 100% Emerging Markets 100% Fee-based >60% Radisson Blu 2 strategic extensions in Copenhagen with conversion from managed to leased Radisson Blu Hotel Algiers Hydra, Algeria Q3 comments: First hotel in Algeria with the Radisson Blu Algiers Hydra Key Focus Countries: Saudi Arabia, Turkey and Russia

26 Q Lower Q3 openings but our pipeline remains strong OPENINGS Q Q YTD 2013 YTD 2012 Hotels Rooms ,300 2,900 Park Inn by Radisson Astana, Kazakhstan >90% Emerging Markets >90% Fee based >55% Radisson Blu Radisson Blu Resort & Thalasso, Hammamet, Tunisia Q3 comments: Park Inn by Radisson Astana, Kazakhstan Radisson Blu Resort & Thalasso, Hammamet, Tunisia

27 Q Hotel Portfolio

28 Selected Future Openings ( ) Radisson Blu Rooms Park Inn by Radisson Rooms Istanbul Tuzla, Turkey 249 Sochi, Russia 508 Istanbul Şişli, Turkey 291 Okoume Palace Libreville, Gabon 180 Mammy Yoko Freetown, Sierra Leone 171 Chelyabinsk, Russia 211 Oslo Alna, Norway 142 Sheremetyevo Airport Moscow, Russia 391 Sohar, Oman 179 Belgrade, Serbia 237 Göttingen, Germany 114 Petrozavodsk, Russia 180 Yaroslavl, Russia 167 Pulkovo Airport St Petersburg, Russia 200 Lund, Sweden 190 Libreville, Gabon 140 Abeokuta, Nigeria 173 Istanbul Ataturk Airport, Turkey 144 Troyitska Kyiv, Ukraine 199 Oslo Alna, Norway 206 Balanced openings between the brands Continued focus on Emerging Markets & key focus countries (Turkey, Russia) Only management and franchise contracts

29 Executive Committee WOLFGANG M. NEUMANN President & CEO KNUT KLEIVEN Deputy President & Chief Financial Officer OLIVIER HARNISCH Executive Vice President & Chief Operating Officer ERIC DE NEEF SVP Marketing, CRM Global Branding Park Inn Age: 51 Seniority: 2.5 years Age: 59 Seniority: 27 years Age: 46 Seniority: 9 months Age: 49 Seniority: 2 years MICHAEL FARRELL Senior Vice President Human Resources MARIANNE RUHNGÅRD SVP, General Counsel & Secretary to the Board EUGÈNE STAAL Senior Vice President Technical Development ELIE YOUNES Senior Vice President Head of Group Development Age: 57 Seniority: 2 years Age: 53 Seniority: 13 years Age: 49 Seniority: 7 years Age: 36 Seniority: 3 years 29 / Owners Dinner / Dubai / May 2013

30 Board of Directors TRUDY RAUTIO Chairman of the Board STAFFAN BOHMAN Vice Chairman of the Board WENDY NELSON Board Member (Director) GÖTE DAHLIN Board Member (Director) ANDERS MOBERG Board Member (Director) Doug Anderson Board Member (Director) GÖRAN LARSSON Employee Representative

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